Attn: All FOREIGN NATIONALS wanting to own property and Live In The Pacific Northwest!


Photo Credit: Skyler Jokian

Now that the Canadian dollar is improving again, I have many foreign real estate clients asking if they can finance purchases of US homes in the Pacific Northwest. Yes, they can!

Finance Programs Available for Foreign Purchasers

Here are some of the programs from one of my favorite Mortgage Brokers, Tom Mercadante, Sr. Loan Officer with Security First Mortgage, Inc., right here in Bellingham, WA . . .

Right now Tom has programs that require a 25% down payment for Second Homes at approximately 5.75% for a 30-year fixed rate loan, and programs that require 35% down payment for Non-owner occupied homes at approximately 6% for a 30-year fixed rate loan.

Of course, full documentation of income and assets is required.

Am I eligible?

Are you eligible for these kind of loans? Ask Tom. He will pull US and Canadian credit scores, and ask you to provide:

  1. 2 years of your T-1’s and T-4’s;
  2. 2 months of assets reports (including all pages of the documents) for all financial accounts;
  3. One month of paystubs;
  4. Your most recent RSP statements; and
  5. Two forms of ID (e.g., your Passport and Driver’s License).

Note: These loans have a 1% hard pre-payment fee for payoff sooner than 3 years of lending history.

If you are NOT a Canadian, Tom will need a $100,000 down payment and 50% loan to value, whichever is more. Seller secondary financing is permitted as long as the combined loan-to-value is less than 50%.

How to contact Tom:

Tom Mercadante can be contacted at:tom

Security First Mortgage
2900 Meridian Street
Bellingham, WA 98225
(360) 734-5768 Office
(360) 483-9077 Cell

Give him a call and tell him “Susan Stecher said I should talk to you about foreign purchaser financing for buying a Pacific Northwest home!”

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