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Ian Charlebois

| Charlebois Real Estate & Mortgages

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Buy · U.S. property

Financing a U.S. home from Canada.

There are three common ways to pay for a U.S. home from Canada: cash, equity from your Canadian home, or a mortgage on the U.S. property. We arrange the financing for each, and our cross-border accounting partners look at the tax side, so you compare the options on your numbers before you shop.

Book a Clarity CallEmail the team

The options

Three ways to pay for a U.S. home.

We arrange all types of financing for a U.S. purchase. Each option has a different cost, a different risk and a different paper trail.

01

Cash

The simplest closing. Plan when you exchange your dollars and how the funds reach the closing agent, and keep records of what you paid: both countries will ask for your cost when you sell.

02

Equity from your Canadian home

A refinance replaces your mortgage with a larger one and can involve a penalty on the current term. A home equity line of credit lets you borrow up to 65% of your home’s value, usually at a variable rate. Either way, your Canadian home secures the loan.

03

A U.S. mortgage

A loan on the U.S. property itself, arranged by our team. Lenders set their own rules for buyers who live in Canada and will document your Canadian income and credit. In Florida, documentary stamp tax applies to the recorded mortgage: 35 cents per $100.

You see every option side by side, not just the one a single lender offers.

Compare

Compare the total cost, not just the rate.

We compare the options on your numbers: the rate, any penalty on your current mortgage, appraisal and legal costs, the currency exchange, and what each choice means for your Canadian home. Our cross-border accounting partners check how each one plays out for tax in both countries.

Borrowing in Canadian dollars to buy in U.S. dollars adds a currency decision to the mortgage decision.

RateFixed or variable; HELOCs are usually variable.
PenaltyBreaking a mortgage term early can be expensive.
FeesAppraisal, legal, title search and discharge.
CurrencyBorrowed in Canadian dollars, spent in U.S. dollars.
SecurityA refinance or HELOC is secured by your Canadian home.
The exitHow the loan is repaid when the U.S. home sells.

The steps

Six steps before you make an offer.

Sellers and closing agents want to know the money is ready. So do you.

Arrange the money before you fall for a house in the U.S.

  1. Clarity Call.Your budget, where you want to buy, your timeline and what you want the Canadian home to do: stay as it is, be refinanced, or be sold.
  2. Review your Canadian mortgage.Your term, your rate, any penalty to break it, and the equity available.
  3. Choose the source.Cash, a refinance, a HELOC or a U.S. mortgage, compared on total cost and risk.
  4. Check the tax side.Our cross-border accounting partners review the financing and ownership plan for both countries before you commit.
  5. Arrange it before you shop.Approval and funds in place before you make an offer, and an introduction to an agent from my U.S. referral network.
  6. Plan the transfer.The currency exchange and the wire timed with your closing agent.

Rules checked on October 16, 2026 against the IRS (FIRPTA withholding and its exceptions, rental income, the substantial presence test and Form 8840, estate tax for nonresidents, ITINs), the Canada Revenue Agency (Form T1135, the foreign tax credit, property at death), the Financial Consumer Agency of Canada, the Florida Department of Revenue (documentary stamp tax, homestead exemption), Ontario (OHIP outside Canada) and Global Affairs Canada.

This is general information, not legal or tax advice. Rules change, and how they apply depends on your situation, so confirm yours with a cross-border accountant, such as our partners on both sides of the border, and a lawyer before you act.

Buying U.S. propertyU.S. tax and estate basicsMortgages

Questions

Financing a U.S. home: quick answers.

Can I use the equity in my Canadian home to buy in the U.S.?

Often, yes, through a refinance or a home equity line of credit (HELOC), and we arrange both. Your Canadian home secures the loan, so we look at the payment, the rate and the risk before you commit. See refinancing.

How much can I borrow on a HELOC?

Up to 65% of your home’s value, depending on your equity and the lender. A standalone HELOC needs more than 35% equity; a HELOC combined with a mortgage needs 20%. At a bank you also pass a stress test. See the Financial Consumer Agency of Canada.

Do you arrange U.S. mortgages?

Yes. We arrange all types of financing for a U.S. purchase, including a mortgage on the U.S. property itself, and compare its total cost with a refinance or HELOC on your Canadian home.

Who handles the tax side?

We work with financial partners on both sides of the border who specialize in cross-border accounting. We bring them in before you choose how to finance and hold the property, because the structure affects tax in both countries.

Is there tax on a mortgage in Florida?

Yes. A mortgage recorded in Florida carries documentary stamp tax of 35 cents per $100 of the amount it secures. Other states set their own costs. See the Florida Department of Revenue.

Does buying in the U.S. change my Canadian taxes?

It can: rental income is reportable in Canada, a rented property with a cost over $100,000 is reported on Form T1135, and the U.S. has its own rules. See U.S. tax and estate basics.