Miami-based fintech Milo will now provide U.S. home loans to Canadian citizens so they can purchase or refinance their U.S. investment properties.
Globally, Milo provides consumers with a quicker, simpler, fully online process to qualify, underwrite, and close a loan from anywhere in the world with fair U.S. interest rates.
“Many Canadians we encounter have always dreamed of purchasing properties in Florida, Arizona, Texas, and California,” said Josip Rupena, CEO and Founder of Milo. “With today’s low interest rates and Milo’s unique digital lending experience, that dream is now closer to reality.”
Since the summer of 2020, Milo has processed more than $100 million in loan requests for purchases or cash-out refinance loans.
Canada presents a new base of English-speaking customers for Milo’s innovative and technology-driven services. The country represents the second-largest market of foreigners purchasing real estate in the United States, according to the National Association of Realtors. Milo expects the country to remain a large player in the space for years to come.
On the heels of its $6 million seed round announcement earlier this year, Milo has begun hiring new personnel for its U.S.-based team, which will allow them to serve and support Canadians.