Financing in 10014>Question Details

joe, Home Buyer in New York, NY

Mortgage for non residents

Asked by joe, New York, NY Wed Feb 6, 2013

Hi, I live in Switzerland and would like to buy an apartment in Manhattan. This is an investment and I’d like to rent it. Can I get financing as a foreigner? If so, what should I expect the down payment and interest rate to be?

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5
Elena Ravich, Esq.’s answer
This lady works with several mortgage programs for foreigners:
Julie Teitel
Senior Vice President - NMLS#148432
GuardHill Financial Corp.
140 East 45th Street, 31st Floor,
New York, NY 10017
Office: (212) 688.9500x229
Direct: (646) 519.7529
Mobile: (917) 648.1388
E-Fax: (775) 245.9435
jteitel@guardhill.com
0 votes Thank Flag Link Tue Feb 19, 2013
Email me your contact information & I will put you in touch with a mortgage professional who works with our company. He will let you know the paperwork you require.
0 votes Thank Flag Link Thu Feb 7, 2013
A mortgage broker some of my clients work with has several different mortgage programs for foreign buyers. I would be happy to connect you
Elena Ravich
Rakita Realty
646 593 7207
0 votes Thank Flag Link Wed Feb 6, 2013
If i am not mistaken, you will need an up ward of 35% plus closing cost additional 4-6%
917) 474 0069
0 votes Thank Flag Link Wed Feb 6, 2013
Hi Joe, yes you can get financing from certain lenders for the purchase of a condo (but not a co-op). You will pay a higher rate, possibly 5-6% and should expect to put down 40-50%, possibly less with good credit and the right lender. I can recommend an excellent lender who can help you with this, his name is Michael Lubell with Amerifund. You can email him at mlubell@amerifund.us. Good luck!
0 votes Thank Flag Link Wed Feb 6, 2013
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