Financing in Orlando>Question Details

Hao Nguyen, Home Buyer in Orlando, FL

Is there possibility for a foreign property investor to borrow 50% of the property price to finance the purchase?

Asked by Hao Nguyen, Orlando, FL Wed Dec 22, 2010

I have read some articles from the property investor magazine subscription today that the US financial institution will lend 50% of the property value ( I do not know which one?). But this would be great since the interest is much lower than in Australia ( at 7-8% pa) and even much better that I can lock in the interest rate for 30 years?!

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Thank you for all of your answer and recommendation. I am greatly appreciated all of your help to my property investment endeavour in US, particularly in Sunshine State Florida!

I would like take this opportunity to wish you and your family have a safe holiday break and prosperous new year! Let's bring US economy in general and US housing out of recession as soon as this new year!

Best of luck,

Hao
0 votes Thank Flag Link Thu Dec 23, 2010
Yes, 50% LTV is a fairly simple loan to obtain. Talk to YOUR local bank and see what, if anything they can offer.

Many banks have a US presence as well. If that route is fruitless- interview 3 Foreign National Lenders that can demonstrate credibility. Google, Yahoo, MSN Bing, etc are great ways to find what you want.

WATERWAY REALTY, REALTORS
Mott Marvin Kornicki, Broker
Aventura • Bal Harbour • Surfside

Sunny isles Beach Real Estate + Info
Web Reference: http://www.sibre.info
0 votes Thank Flag Link Wed Dec 22, 2010
Hao:

YES, usually up to 70% con be financed. I sell home in the Orlando/Kissimmee/Disney area.
But, contact this lender, he is really good at getting in touch with you fast:
José A. Morales
Senior Mortgage Professional
561-432-9237(Off)
561-281-2746(Cell)
866-284-2897(Fax)
jmorales@floridamortgagecoach.com

You can begin looking for investment homes here: http://www.FindKissimmeeHomes.com
Zip codes near Disney include 34747,33897,34714,33896 and good priced homes for long term renters in 34746, 34759 or if you are looking for large nice homes contact me and i will sent you samples of different communities.

Tony Vega
Charles Rutenberg Realty
(Click on photo to contact me)
0 votes Thank Flag Link Wed Dec 22, 2010
Hi Hao,

Yes it is definitely possible. We have assisted many foreign nationals with the purchase of a home in Florida. We are currently working with a couple from Norway and I believe they are being required to put 30% down and are allowed to finance the balance.

If you need assistance in finding a property in Florida my wife and I would love to assist you. There are a lot of choices to be made when considering the purchase of a second home or investment property. We can assist you every step of the way from home selection to financing to renting the property while you are not in town. Feel free to visit our website for more info.

Best Regards
Chris Christensen
Regal Real Estate professionals
407-312-8003
0 votes Thank Flag Link Wed Dec 22, 2010
Hi Hao,

It is no problem for a foreign investor to borrow 65% to 75% of the purchase price. I have a new Australian real estate investor just like yourself who is purchasing his second property today and he had no problem getting his first mortgage. There is one catch, expect that the minimum loan will be $100,000, which means the minimum purchase will be around $140,000.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
0 votes Thank Flag Link Wed Dec 22, 2010
yes it is very possible. but it would need to be a single family home. I am from UK amd know all about helping foreign nationals buy homes here. It is pretty much all I do.

I cam help you. alan@frontlinefloridarealty.com
0 votes Thank Flag Link Wed Dec 22, 2010
Absolutely. You may borrow even more depending on the type of property, how much you have in reserves, etc. There are some requirements to be met such as minimum loan amount, debt to income ratio, and others. Rates vary depending on the type of program selected. Presently helping a client from New Zealand buying in Florida. Call or email me to discuss.

Jose Morales
Florida Mortgage Coach
561-432-9237
info@floridamortgagecoach.com
0 votes Thank Flag Link Wed Dec 22, 2010
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