Financing in 22202>Question Details

Milton, Home Buyer in New York, NY

I'm a foreign national buying 600K investment property in California.100% equity. What is max i can borrow against Home equity loan. Any other limits?

Asked by Milton, New York, NY Thu Sep 5, 2013

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I'm looking to buy on cash, a single-family or town house to rent. Since i'm a non-resident would i need an established credit history to take out a home equity loan?
0 votes Thank Flag Link Thu Sep 5, 2013
Yes, if the loan is going to originate in the US, you will need established credit in order to take out a home-equity loan.
Flag Thu Sep 5, 2013
Your best bet is to speak to a licensed banker/mortgage professional in the area that you are looking to purchase. Without an owner-occupied situation, the lenders have very strict guidelines to follow.
If you are looking in Southern California, I would be happy to assist you with a referral for a reputable lender.
0 votes Thank Flag Link Thu Sep 5, 2013
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