Harris Bank is a 125 year old Chicago bank that is owned by BMO (Bank Of Montreal).  We lend to US citizens and Canadian citizens purchasing property within the US and make the process very simple and smooth for all buyers.

Upon receipt of all loan documentation, the loan process takes 3-4 weeks for closing documents to arrive at the title company.  Harris works directly with the US title company and can do mail-away packages to an attorney in Canada where the buyers will sign.

Second Homes & Investment Properties

• Full Documentation
• 30% Down Payment 
• 40% Debt to Income Ratio
• 640 Credit
• 3/1, 5/1, 7/1, or 10/1 ARM loan products available 
• 10 yr or 15 yr fixed loans available

- Ex:  3/1 ARM is a 30 year term with first 3 years fixed  

- Ex:  After initial 3 year fixed period, the rate may adjust each year for the remainder of the term.

- No prepayment penalties, so loan can be paid off at any time

We encourage each borrower to open a Harris checking account with $3000-$5000 where the monthly payments will be automatically deducted.  This is helpful to the Canadians so they can pay their taxes, HOA obligations, receive direct deposit for rent, and so they have money available for their US visits.  Harris accounts can be managed online from anywhere in the world and we’re only a phone call away if they should need any help moving funds around.

Please feel free to contact me with any questions and I look forward to working with you and your clients.

Kevin Braverman

773.418.2544

Kevin.Braverman@harrisbank.com

“Harris Is Here To Help”