US property downpayment

Leveraging, renting vs owning, making an investment or buying a home?
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Casanova
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US property downpayment

Post by Casanova » 12 Nov 2016 00:01

Hi all, I'm a Canadian recently moved to the US for employment. I'm currently in the process of buying my first house. Now about 30 days or so from closing. I'll be making a down payment of about $40k US. I've saved up about $15k US in my TD US account but the rest of the payment will have to come from my Canadian TD checking account. What is the best way to go about the currency exchange and wire transfer payment on closing day? Thanks!

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kcowan
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Re: US property downpayment

Post by kcowan » 12 Nov 2016 09:38

I would talk to my US bank about what rate they will give me on exchange and how much time time they need to clear the funds. Then deposit a check. There are many other ways to do it but you have bigger issues to deal with than FX. (You might want to check whether you US lawyer can do better but I doubt it.)
For the fun of it...Keith

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