Financing in California>Question Details

Jade, Home Buyer in California

I'm a non-US citizen, not resident & do not pay taxes in US. Looking to buy a property in CA for investment. Are there any banks offering?

Asked by Jade, California Mon Mar 7, 2011

mtg loan?

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Answers

11
Jade - Im with BBVA Compass. We do have a Foreign National program with 25% Down Payment for a Loan Amount up to $1,000,000. We are currently lending only in the States of Florida, Alabama, Texas, Arizona, New Mexico, Colorado and California.
All documents require are from your country of origin. What is your country of origin? What part of California are you looking to purchase?? Send me your email so I can send you the requirements.
1 vote Thank Flag Link Tue Mar 8, 2011
Alejandro, I'm very happy to know about BBVA. We've have several accounts with your bank including my RE brokerage and construction company account and a good size unsecured line of credit if and when we need it. Really like your bank. We've been loyal customers since we opened our account with Guarantee several years ago. Exciting to know about your Foreign National program.

Just don't get too big to fail and end up like all the other big banks that I wouldn't touch for the world. One of the main reasons we love BBVA is the personal hands on treatment we get from Rick Thurmond and most of the tellers when we walk in. Kinda reminds me of the old days when you could walk in grab a cup of coffee and a cookie and sit down to do your banking.
0 votes Thank Flag Link Wed May 16, 2012
Many thanks to all for the replies. They were really helpful because I had heard that its almost impossible. Good to hear that that's not true!
0 votes Thank Flag Link Fri Mar 11, 2011
I can assure you foreign national or US citizen you won't need fifty percent with us. You should give us a call or drop us an email. 760 815-6977
0 votes Thank Flag Link Mon Mar 7, 2011
I forgot to mention that the geographic area would be critical.
No limit to the loan amount.


Thierry

Thierry Abel
Senior Loan Consultant
By Referral Only
All California Mortgage, Inc
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
0 votes Thank Flag Link Mon Mar 7, 2011
Jade,

If you have at least 50% equity in the property (= 50% down payment minimum) and an exit strategy, investors would be interested with your project...Hard Money Loan 9-10% and 3.5 points...We do these deed of trust investment deals.

Cheers,

Thierry

Thierry Abel
Senior Loan Consultant
By Referral Only
All California Mortgage, Inc
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
0 votes Thank Flag Link Mon Mar 7, 2011
I don't know what happened to my answer earlier but there are lenders who would be happy to work with you. It would require some investment and good credit on your part but if you're interested in San Diego Coastal property let me know. I'd be happy to work with you.

We are a real estate broker and general rehab contractor that specializes in distressed properties and have a good inventory of turned around properties that are not only great investments but great places to call home. Please feel fee to contact us anytime.
0 votes Thank Flag Link Mon Mar 7, 2011
You are considered a Foreign National. You don't need any US Documentation.

We can lend 50% to 55% of the purchase price depending on which bank would be best for you. The minimum loan amount is $417,000. Rates are very competitive. .... Under $417,000 we have private money investors that lend to Foreign Nationals. Rates are much higher, around 11%.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Mon Mar 7, 2011
Jade,

NON-PERMANENT RESIDENT ALIENS NEED – US Social Sec #, Acceptable US Work Visa, Credit in order to get a loan.

Call or email for more details.

Thierry

Thierry Abel
Senior Loan Consultant
By Referral Only
All California Mortgage, Inc
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
0 votes Thank Flag Link Mon Mar 7, 2011
Jade: Cash is your best option. Leverage some assets in your own Country to come up with the cash. Prices for property can be very low to very high so it just depends on what you are looking to invest in.
0 votes Thank Flag Link Mon Mar 7, 2011
Foreign Nationals can buy property in the US - but getting financing is difficult.

Check with banks in your home country to see if they may lend with a US property as collateral.

If not - you can always pay cash.

Good Luck!

Gerry Dunn
Associate Broker
Serving Maryland, D.C and Northern Virginia
0 votes Thank Flag Link Mon Mar 7, 2011
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