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Cross-border mortgages for Canadians

Our Gateway Program simplifies the mortgage process for Canadians buying a home in the U.S.

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Cross-border mortgages

If you’re a Canadian citizen looking to buy or refinance a home in the U.S., the mortgage process can be complicated.

Our Gateway Program offers cross-border mortgage options with more convenience and less complexity. Plus, you’ll have the support of an experienced Mortgage Banker each step of the way.

About the Gateway Program

Cross-border home buyers need a cross-border bank. Our Gateway Program streamlines the mortgage process for Canadians buying or refinancing property in the U.S.

  • Available to Canadian citizens who bank with BMO Harris1
  • Conventional fixed and adjustable rate mortgages available2
  • Loan amounts up to $2 million (USD)3
  • Condos are included
  • Open to self-employed applicants

About the Gateway Program

Cross-border home buyers need a cross-border bank. Our Gateway Program streamlines the mortgage process for Canadians buying or refinancing property in the U.S.

  • Available to Canadian citizens who bank with BMO Harris1
  • Conventional fixed and adjustable rate mortgages available2
  • Loan amounts up to $2 million (USD)3
  • Condos are included
  • Open to self-employed applicants

What you’ll need to apply:

Canadian documents can be accepted when applying for your U.S. mortgage. Here’s what you may need:

Documents you may need when applying for a cross-border mortgage
  Canadian Documents U.S. Documents
Proof of Income
Tax Documents T1 Income Tax and Benefit Return and Notice of Assessment 1040 U.S. Individual Income Tax Return
Investment Income Your most recent two years of T3 and T5 slips 1040 Schedule B Interest and Ordinary Dividends, and/or Schedule D Capital Gains and Losses
Salaried Employees Your most recent two years of T4 slips. Paystubs reflecting your income for the past 30 days W2 Wage and Tax Statement of Income
Self-Employed Individuals Most recent two years of business returns (T2) for any entity where ownership is 25% or more, with all pages and schedules 1040 Schedule C Net Profit or Loss from Business, and/or 1065 K-1 Partner’s Share of Income, Deductions, Credits, etc.
Retired Individuals Copy of your most recent retirement awards letters Social Security or Awards Pension letter
Proof of Citizenship and Identity
  Copy of passport and/or U.S. qualifying Visa for each borrower
  Social Insurance Number for each borrower Social Security Number for each borrower
Proof of Assets
  Account statements for most recent two months for each account you hold. Statements must include your name, account number, all pages, bank name, beginning and ending balances, and time period. Accounts include: personal checking and savings; line of credit (if using these funds to close on your new home); RSP; Investments/ brokerage (if using these funds to close on your new home.)

Note: All Canadian asset amounts will be converted into U.S. dollars for the purpose of your financial assessment.
Insurance Documents
Current Property Owners Copies of property tax notice and home insurance premiums for each residential property owned

Canadian Documents

Documents you may need when applying for a cross-border mortgage
Proof of Income
Tax Documents T1 Income Tax and Benefit Return and Notice of Assessment
Investment Income Your most recent two years of T3 and T5 slips
Salaried Employees Your most recent two years of T4 slips. Paystubs reflecting your income for the past 30 days
Self-Employed Individuals Most recent two years of business returns (T2) for any entity where ownership is 25% or more, with all pages and schedules
Retired Individuals Copy of your most recent retirement awards letters
Proof of Citizenship and Identity
Copy of passport and/or U.S. qualifying Visa for each borrower
Social Insurance Number for each borrower
Proof of Assets
Account statements for most recent two months for each account you hold. Statements must include your name, account number, all pages, bank name, beginning and ending balances, and time period. Accounts include: personal checking and savings; line of credit (if using these funds to close on your new home); RSP; Investments/ brokerage (if using these funds to close on your new home.)

Note: All Canadian asset amounts will be converted into U.S. dollars for the purpose of your financial assessment.
Insurance Documents
Current Property Owners Copies of property tax notice and home insurance premiums for each residential property owned

U.S. Documents

Documents you may need when applying for a cross-border mortgage
Proof of Income
Tax Documents 1040 U.S. Individual Income Tax Return
Investment Income 1040 Schedule B Interest and Ordinary Dividends, and/or Schedule D Capital Gains and Losses
Salaried Employees W2 Wage and Tax Statement of Income
Self-Employed Individuals 1040 Schedule C Net Profit or Loss from Business, and/or 1065 K-1 Partner’s Share of Income, Deductions, Credits, etc.
Retired Individuals Social Security or Awards Pension letter
Proof of Citizenship and Identity
Copy of passport and/or U.S. qualifying Visa for each borrower
Social Security Number for each borrower
Proof of Assets
Account statements for most recent two months for each account you hold. Statements must include your name, account number, all pages, bank name, beginning and ending balances, and time period. Accounts include: personal checking and savings; line of credit (if using these funds to close on your new home); RSP; Investments/ brokerage (if using these funds to close on your new home.)

Note: All Canadian asset amounts will be converted into U.S. dollars for the purpose of your financial assessment.
Insurance Documents
Current Property Owners Copies of property tax notice and home insurance premiums for each residential property owned

Payment options

We offer a range of payment options to help you conveniently make your payment on time, every month. Each is safe and secure4 — just choose what’s easiest for you.

  • In person at your choice of 600+ BMO Harris locations
  • By mail

FAQs

Can I buy a property in the U.S. with a mortgage from a Canadian bank?

No. You need a U.S. mortgage to purchase a U.S. property.

Do I need a U.S. credit history to apply for a U.S. mortgage?

No. With BMO Harris, you can apply for a U.S. mortgage using your Canadian credit history if you do not have a U.S. credit history.

Is getting a mortgage in the U.S. the same as getting a mortgage in Canada?

No. The U.S. mortgage industry is more highly regulated than Canada. This affects how long it takes to apply for a mortgage, how much documentation is required and may mean that you pay more in fees.

How much of a down payment do I need to have for a home or property?

Down payment amount required can vary based on your credit history. Speak to a Mortgage Banker for additional details.

Do I have to attend the mortgage loan closing in person?

We recommend that customers attend the mortgage loan closing in person at the location of the U.S. title company. If a Canadian client cannot attend the closing in person, it may be possible for them to get documents notarized at a U.S. Consulate. Talk to your BMO Harris Mortgage Banker for details.

Note: A Canadian notarization is not an option; U.S. title companies will not generally recognize non-U.S. notarized documents.

I’m a Private Banking or Nesbitt Burns client. Should I talk to my Canadian Wealth Professional about purchasing a home in the U.S.?

Yes. Your Canadian Wealth Professional will introduce you to their counterparts in the U.S. who are specially trained to help Canadians apply for mortgages in the U.S.

1-888-482-3781
Mon - Thu 8 a.m. - 7 p.m. (CT)
Fri 8 a.m. - 6 p.m. (CT)
Sat 8 a.m. - 1 p.m. (CT)
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  1. Applicant must meet one of the following eligibility requirements: New or existing Private Bank client; new or existing Premier Services client; new or existing depository client at BMO Harris Bank N.A. or Bank of Montreal.
  2. The escrow portion of your monthly mortgage payment may change periodically during the term of your loan depending on changes to your property taxes and hazard, flood or other required insurance. Historical performance of Adjustable Rate Mortgage (ARM) indexes does not predict future performance and is only one factor to consider when choosing a mortgage loan. Certain restrictions and fees may apply.
  3. Loan limits are subject to change at any time without notice.
  4. Visit the BMO Harris Security Center for details.
  5. Auto Pay means periodic scheduled payments automatically deducted from your BMO Harris checking account, as applicable, to pay the loan. When you sign up for Auto Pay, you authorize the Bank to draw your account for all amounts then due, including any late fees and any other charges. Checking account opening subject to bank approval.
  6. Certain conditions and limitations apply. Digital Banking Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Digital Banking Agreement found at bmoharris.com/legal for full details.
  7. Message and data rates apply. Please contact your wireless carrier for details.