Canadian Mortgage Specialist Turns to Milo for US Purchase

In the world of real estate, even seasoned professionals can face unexpected challenges. That was the case with a Canadian mortgage specialist who sought to purchase her first U.S. investment property—a single-family home in Deerfield, Florida, valued at $410,000. Despite her deep knowledge of the mortgage process, she quickly discovered that navigating foreign national loans was far more complex than expected.

Initially, she trusted a mortgage broker but soon became frustrated by the lack of transparency in the loan estimates and their limited expertise with foreign national borrowers. As a mortgage specialist working for a prominent Canadian bank, she understood the limits of the traditional banking system, especially when it came to refinancing and international property loans. Knowing that time was ticking with her contract in place, she started looking for an alternative and came across Milo.

Our conversation started with her expressing concerns about the limited options her broker had presented. She wanted clarity and expertise, particularly in how her U.S. property’s potential rental income could work in her favor. After carefully assessing her situation, we proposed a DSCR (Debt Service Coverage Ratio) loan—a perfect fit for her needs. With a DSCR over 1, the property was projected to generate positive cash flow, making her loan approval smoother and more efficient.

Just when things seemed to be progressing smoothly, Hurricane Helene hit, and Deerfield was declared a disaster area. The storm created delays, requiring a second inspection of the property to assess potential damage. Despite this hiccup, our team acted quickly, and the second appraisal aligned with the first, meaning no adjustments were needed. This quick resolution ensured that we stayed on track with the financing.

Ultimately, we secured a 75% LTV DSCR loan for her, allowing her to move forward confidently with her purchase. The process not only provided her the financial solution she needed, but also gave her peace of mind that she was working with a team that understood the complexities of cross-border lending. What could have been a stressful situation turned into a seamless experience, with her new property set to generate income as planned.

This experience reinforced for her that even though she was familiar with traditional banking practices, exploring innovative solutions like Milo’s DSCR loans opened new possibilities for growth—ones not bound by the limitations of personal income documentation. It was a reminder that when it comes to U.S. property investment, having the right partner can make all the difference.

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.