Canadian investor information for
buying homes or condos in Florida

Investors from Canada are coming to Naples, Florida and buying homes and condos in this buyers market.

If from Canada, what you can expect when buying property here in Naples...
a side by side comparsion.

When in Canada

  • 5-10 Days Total to Close
  • Rate Locked at time of First Quote
  • Closing Costs 0 - 1% of Purchase Price
  • Land Transfer Taxes: (CSD)
    • Up to $55,000 = .50%
    • $55,000 to $250,000 = 1.0%
    • $250,000 to $400,000 = 1.5%
  • Pre-Payment Penalty during CLOSED period.
  • No Options for fixed rates on 15 or 30 year term & amortization.
  • Variable Rate Mortgages (A.R.M.'s) may be converted to fixed rate.
  • 'Simple' Documentation Submission Requirements.
  • No Provincial taxes nor fees
  • Mortgages Are:
    • Switchable
    • Assumable
    • Portable
    • Add-ons

When in Florida

  • 3 - 5 Weeks Total to Close
  • Rate Locked at disretion of Borrower after contract/loan application is signed.
  • Closing Costs 2 - 3% of Purchase Price.
  • Documents Stamps (County)
  • Intangibles Taxes (State)
  • No Pre-Payment Penalty ever on RBC Centura products.
  • Options available for fixed rates on 15 or 30 year term & amortization.
  • A.R.M.'s (V.R.M.) cannot be converted into fixed rate.
  • More Expansive Documentation Submission Requirements.
  • No tax deduction(s) for mortagage interest paid by Canadians on Florida property.*
  • Mortgages Are Not:
    • Switchable
    • Assumable
    • Portble
    • Add-ons are permitted

Read these other informative articles
for Canadian buyers:

1. Process For Getting A U.S. Mortgage.

2. Canadians getting a mortgage in Florida...what to expect.

or search for Naples Real Estate Now



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RUTH BETHEM, ABR, CRS, GRI, Realtor®
Downing-Frye Realty, Inc.
3411 Tamiami Tr. N.
Naples, Florida 34103
Phone: 239-777-7007 or Toll Free 877-777-7545

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