Canada Home Buyer Seminar May 2008 Calgary Alberta - Debra Allen, ABR, GRI, e-PRO, TRC, ASP

Debra Allen

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Debra.Allen@pruaz.com | Phone: 480-797-4080 | Fax: 480-467-4950

Educating Canadians about US Real Estate Opportunities

HiFX's " Arizona Property Seminar"

Hundreds of prospective Canadian buyers attended

HiFX's " Arizona Property Seminar" in Calgary on May

10th, 2008 to learn about real estate opportunities and

key considerations when buying property in the US.

Canadians Buying in the US

Calgary Event Summary

"Canadians Buying in the US" is a seminar series organized by HiFX with a team of specialists in real estate,

financing, currency exchange, tax, and legal with the purpose of educating Canadians about the current real

estate opportunities in the US. The soaring Loonie, low interest rates, and sub-prime issues in the US have

combined to produce the "Perfect Storm" for Canadians considering buying a place in the sun such as Arizona,

Florida, or elsewhere in the U.S. It's imperative that potential buyers consider a variety of issues when

purchasing property abroad. Registered attendees at the HiFX seminar learned about these key

considerations including: finding an experienced real estate agent you can trust, getting financing options for

your mortgage, getting the best rate of exchange in order to save money, and tax and estate planning.

Prudential Arizona Properties – Debra Allen

www.DebraAllen.com

Born in Bremen, Germany, Debra Allen brings a unique international perspective to the Arizona real estate market.

In just three years with Prudential Arizona Properties, one of the fastest growing real estate firms in the U.S., Debra has

distinguished herself from the pack. An outstanding professional, Debra is committed to attaining the highest levels of

education and real estate specific training. Her industry designations include the following: ABR (Accredited Buyer

Representative), GRI (Graduate, Real Estate Institute), ASP (Accredited Staging Professional), Relocation Specialist, and

the e-Pro (Internet Real Estate Professional) designation awarded by the National Association of Realtors®.

Debra won the Top Customer Service Award for 2007 and Top Listing Agent 2007 for Prudential.

Debra Allen of Prudential Arizona specializes in the foreclosure market. She talked about the differences

between short sales and Real Estate Owned property. She also stressed the importance of working with an

experienced agent for this type of investment opportunity.

HiFX Currency Exchange – Tom Wight

www.hifx.com/personal.aspx

Tom Wight is a Senior Currency Specialist on the Private Client Services desk of HiFX, Inc. The company provides a

range of foreign exchange services to corporate and individual clients who have a currency exchange requirement.

Through its global offices HiFX manages over $40 billion in foreign exchange transactions annually. Last year, HiFX

helped over 30,000 individuals who were purchasing property abroad, relocating, or who had other currency requirements

by offering the best possible rates of exchange in order to save them money.

Tom is particularly familiar with the property market in Arizona and the currency requirements of Canadian buyers. He

has developed an extensive network with the local real estate agents, developers, and other service providers, and has

helped many Canadians who have needed to transfer currency for property purchase or relocation to Arizona.

Tom Wight from HiFX Currency Exchange talked about currency movements and discussed two currency

exchange options (spot and forward) for real estate transactions. He finished by sharing the benefits of the

Regular Payments Abroad service to help clients save money on international mortgage payments.

Cam McIntosh, CA, CFP

www.canadiansretiringabroad.ca

Cam McIntosh has been a Chartered Accountant and a specialist in expatriate financial planning for more than 25

years. He has written and been quoted in many local and national publications on the subject of working or retiring

outside Canada. Cam also delivers workshops and presentations on the topics of Non-residency for Canadians and

Financial Planning for the Non-residents of Canada, both in Canada and North America.

Cam has received numerous industry awards for his work in the area of Expatriate Financial Planning for the Nonresident

covering topics such as Taxation, Health Care and Investments.

Private Client Services

HiFX Inc

250 Montgomery Street, Suite 910, San Francisco, California, 94104 USA

Tel: +1 (415) 678 2770 Fax: +1 (415) 773 1822 www.hifx.com

Auckland Marbella

For Canadian Citizens with U.S. Credit Score 700 or above

Requirements for Canadian citizens with a U.S. credit bureau score of 700 or more:

· Conforming loan amounts only.

· Fixed rate, and 5/1, 7/1 and 10/1 Fully Amortized ARM products only. .

· Single-family residences

· Second homes only.

· Purchase transactions only.

· Minimum credit bureau score of 700.

· Maximum LTV / HTLTV is 75%; LTV / HTLTV up to 80% on ARM loans for properties located in Arizona (AZ) and Florida (FL).

· All other standard guidelines apply.

All other standard guidelines apply

For U.S. Credit Scores below 700

Requirements for all Nonresident Aliens (excluding Canadian Citizens with a

U.S. Credit Bureau Score of 700 or more):

Conforming loan amounts only.

Fixed rate, and 5/1, 7/1 and 10/1 Fully Amortized ARM products only.
Single-family residences
Second homes only
Purchase transactions only.
Maximum LTV / HTLTV is 70% (with the exception of properties located in California (CA), Minnesota (MN) and New York (NY), where the LTV / HTLTV is limited to 65%).
Temporary buy downs are not permitted.
A minimum of six months' reserves, verified in a U.S. financial institution, is required.
Income must be established by alternative documentation:
Income for salaried applicant -- Obtain a verification of employment (VOE) or letter from employer on company letterhead stating current annual income, number of years employed and current position.
Income for self-employed applicant -- Obtain a letter from an independent certified public accountant (CPA) stating how long the applicant has owned the business and its current annual income, including the past two years' of income. The letter must either 1) be on the CPA's letterhead or 2) be on blank (non-letterhead) paper accompanied by a copy of the CPA's business license.
As a credit history, obtain one of the following:
Retail / Bank of America LoanLine™: A satisfactory U.S. credit history derived from at least a two-repository merged credit bureau report consisting of three or more open or closed tradelines
All Channels: Three credit references from the applicant's country of origin stating how long he or she has had a relationship, the high credit and balance on his or her account
All Channels: A letter from the applicant's bank describing the loans and previous payment history
Copy of Canadian credit report.