Does mortgage on Canada rental reduce US mortgage?

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Nishant
Posts: 78
Joined: Sun Sep 06, 2009 10:15 am

Does mortgage on Canada rental reduce US mortgage?

Post by Nishant »

Do US home loan lenders look at balance mortgage on Canada rental property to calculate debt ratios? If yes, does that reduce available mortgage on US home?

Cash flow wise, Canada rental property is a net plus and there is no need to use US funds to maintain rental property in Canada.

Since Canada property apperars on schedule E showing world wide income, it will be visible to the lenders especially FHA insured homes.

Since credit history of the two countries are independent and not linked, it would be nicer if home loans are as well.
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Nishant
Posts: 78
Joined: Sun Sep 06, 2009 10:15 am

Post by Nishant »

Already answered in Canuckabroad forums.
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