Financing in 94520>Question Details

E.J. Dizon, Real Estate Pro in 94520

I have a Canadian resident client looking to purchase a property in Northern California. Are there any loan programs out there for this situation?

Asked by E.J. Dizon, 94520 Thu Mar 18, 2010

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Help the community by answering this question:


My direct lender, Chinatrust Bank USA, specializes in flexible documentation scenarios. Our portfolio is geared towards the self employed, overseas US citizen, and foreign nationals. We accept overseas unaudited profit and loss business statements (for S/E), limited or no credit history, verbal verifications of employment (both domestic and foreign companies is OK), no green card (true foreign nationals), and loan sizes up to 1.5MM. 2nd homes are OK too.

The best part is that our rates are nowhere near close to hard money: our 3/1 ARM rate is 4.875!

If you have any questions, don't hesitate to contact me.


Lou Wu
(949) 870-2882 CELL
Chinatrust Bank USA
0 votes Thank Flag Link Fri Mar 26, 2010
The loan program you are looking for is Foreign National Mortgage some lenders might still be offering at 30-50% down payment. If you don’t find anything with conventional lenders, give us a call, I will be able to arrange a private or hard money financing under an LLC or Corp. Visit our web site for more info.
0 votes Thank Flag Link Thu Mar 18, 2010
Hi EJ.

I am a Broker in California and we do have a loan program for a second home with your client remaining a Canadian Citizen. Please feel free to call me any time.

Best Regards,
0 votes Thank Flag Link Thu Mar 18, 2010
I'm sorry. I think I should clarify my question. My client is a Canadian resident/citizen looking to purchase a second home in California. She will remain a Canadian citizen with no intentions of becoming a US citizen. Sorry for the confusion.
0 votes Thank Flag Link Thu Mar 18, 2010
John Frangoulis (Mortgage Broker) can help you out. His phone number is 925-472-8785. Let him know I sent you.
0 votes Thank Flag Link Thu Mar 18, 2010
I don't think you need a special loan program. The key issue is the immigrant status of the borrower. Basically if he has a "green card" he can borrow pretty much like anyone else. There is a long list of types of Visa's and every bank is different about which Visa status they will accept.
0 votes Thank Flag Link Thu Mar 18, 2010
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