Serbinski Weinberg, Ltd., Certified Public AccountantsTax and other financial matters concerning Canadian professionals in the U.S. and U.S. citizens in Canada Includes income and estate taxation, social security, health insurance, retirement accounts, cross border tax issues, and other matters affecting your pocketbook. Topic Administrator: Mark T. Serbinski, CA, CPA of Serbinski Weinberg, Ltd. CPA's and Serbinski Partners, Chartered Accountants

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Topic: Tax and Financial

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Posted by Nelson on August 25, 2004 at 10:55:38:

In Reply to: Can a TN visa holder own a house in the US posted by Dave on August 25, 2004 at 10:15:50:

Instead of paying rent, my wife and I are thinking of buying a house and building up our equity while living temporary here in the US. Is it a violation to own a property since the regulations state that: "TN is a Temporary entry, as defined in the NAFTA, means entry without the intent to establish permanent residence"?
Don't overthink this issue.

Even Cdn tourists can own property in US, so a TN can obviously too.

You need to have good Cdn credit history if you buy soon after entering US (I bought 12 days after arrival). You will need to deal locally, as on-line mortgage vendors will not take the time to look at your Cdn credit.

You need manual underwriting.

Having a decent downpayment will help, but is not required.


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