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How to buy Caliber Home Loans (HOMS) stock in Canada when it goes public
Here's everything we know so far about the Caliber Home Loans IPO.
Caliber Home Loans stock is not yet available to purchase on any exchange. But it's expected to go public soon. Here's what we know — and how to buy in when it launches.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
What we know about the Caliber Home Loans IPO
Caliber Home Loans filed a draft registration with the US Securities and Exchange Commission under the ticker symbol HOMS. Not yet an official IPO, it's one of the first steps of taking a private company public.
The stock is expected to cost between $14.00 and $16.00. No date has been set for when the stock will be publicly available. The shares will be available on the New York Stock Exchange NYSE.
Will I be able to buy Caliber Home Loans stocks from Canada?
You won't be able to buy Caliber Home Loans stocks on a Canadian stock exchange like the TSX or CSE. Instead, you'll need a Canadian broker that provides access to stocks sold on international exchanges. However, some Canadian brokerages don't offer access to international investments at all or only provide access to a limited range of investment opportunities.
You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Questrade, Wealthsimple, Scotia iTRADE and Interactive Brokers. Interactive Brokers also provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
The process of buying stocks listed on international exchanges is basically the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles international stocks.
How to buy shares in Caliber Home Loans when it goes public
Once Caliber Home Loans goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
- Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
- Search for Caliber Home Loans. Find the stock by name or ticker symbol: HOMS. Research its history to confirm it's a solid investment against your financial goals.
- Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Caliber Home Loans reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Caliber Home Loans, depending on your broker.
- Check in on your investment. Congratulations, you own a part of Caliber Home Loans. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
Tax implications of buying US stocks in Canada
Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.
An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.
All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply to your circumstances.
Compare online stock trading platforms
Note: The dollar amounts in the table below are in Canadian dollars.
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