Financing in Houston>Question Details

Frederik, Home Buyer in Lauderdale-by-the-Sea...

Mortgages for Foreign nationals in Texas?

Asked by Frederik, Lauderdale-by-the-Sea, FL Fri Feb 22, 2013

We are group of foreign investors from Australia, Europe and Malaysia interested in buying Single family and Multi-family properties.

For single family we looking at:
40000-350000 US $ units with Cap of around 8%
(we are looking at buying 20-50 units)

For multifamily we looking at:
600.000 US$ to 2000.000 US $ units with Cap of around 10%

What would be your mortgages rates, downpayment % etc be for each of the above groups? We are looking for fix rates
Please let us know more about your products services,conditions and what you need from us to get pre-qualified

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Answers

8
John Broussard’s answer
Our down payment for foreign national programs on commercial properties vary from 25 to 40% down depending on the property class, occurpancy and location. For more details give me a call to discuss.

John Broussard
Newbridge Investments
713-777-9996 Ext 103
john@newbridgehomeloans.com
http://www.newbridgehomeloans.com
1 vote Thank Flag Link Wed Feb 27, 2013
Hi John,

Thank you for helping. I try to call you today but can not reach you.
When would be a good time to call you?

For C class properties, 80-90% occupancy what will be the downpayment?
How can get more details on this?

Thank you,

Frederik
Flag Mon Mar 11, 2013
Foreign National Loans

Borrowers using TIN Okay
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Foreign Nationals {Expatriate}- NO PASSPORT {Must have valid work visa or 30% Down}
70% LTV Purchases
65% LTV Rate & Term Refinance
50% LTV Cash Out {Possible higher if financials are up to par}
Multiple properties OKAY
Corporation purchasing and refinancing OKAY

Richard- El Bey
Avarice Investments
(706) 399-7813 cell
(678) 752-8062 Office
thegocp@gmail.com
0 votes Thank Flag Link Mon Oct 14, 2013
We offer financing for Foreign Nationals. We require 35% down and the property has to appraise for the purchase price on the contract. We do not require financials, income, credit, etc... Most investors use our financing as a bridge loan to get to point A to point B and then either refinance or sell the home. We do not charge a pre-pay penalty or have a balloon payment on our loans, so you can get out of it at any time. We specialize in financing distressed assets and don't care about the condition of the property. Please call or email for more details.

Ted
512-334-1481
ted.esquibel@econohomes.com
0 votes Thank Flag Link Mon Feb 25, 2013
25% down
Rates around 4.5%

GASTON LIRA
ERA ALLSTAR PROPERTIES
936 756 8550
gaston.lira@era.com
0 votes Thank Flag Link Fri Feb 22, 2013
We can offer 40% down with our Foreign Nationals Program for Investors with a higher interest rate and no credit or income required. Lenders take a significant risk on foreign national borrowers so the rate will be higher initially. Once we have some experience with you as a borrower, we would probably be interested in negotiating a better rate.


Anna Maria Durr, NMLS 266699, TREC 596662
Codemark Financial
2626 Richmond Ave., Houston, Texas 77098
281-592-0667, anna@codemarkfinancial.com
0 votes Thank Flag Link Fri Feb 22, 2013
Right now we are not seeing mortgage for investment properties for foreign nationals.
The numbers probably make sense, but what we are seeing is groups like this contributing cash and buying with cash, not financing.

You might be able to obtain financing on your end of the world...but I would be surprised if you could get financing here.
0 votes Thank Flag Link Fri Feb 22, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I have helped several foreign nationals purchase homes in the past. It is critical that those on the mortgage have established credit with a social security number. Down payments would be anywhere from 20 to 25% depending on the lenders used and programs wanted. I have several that allow just 20% down but the rate would be slightly higher. You would be looking at interest rates of between 3.75% and 4.25% depending on the amount you wanted to put down with current pricing on a 30 year fixed note. I can give you further details if you like.

Also if you need help locating property in the Austin area please feel free to contact me as I am also a licensed Realtor.

Best of luck to you.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Fri Feb 22, 2013
Hi Don,

Just try to call you. Let us know when is good time to contact you.
Its 1.40am here now so we will go to sleep, if ok we can have contact by email

Have a wonderful day!

Frederik
Flag Fri Feb 22, 2013
Thank you Don,

We are very interested in the solutions you can provide.
Until now we have found only 2 banks that willing to lend at good rates for 25% down: HSBC premier and BBVA Compass
Only challenge is that they limit how many properties we can buy.

Yes we are open to look at Austin TX

You can contact us on nutritioncenters (at ) gmail.com
1-713-357-6485 (phone nr is forwarded to Malaysia, there is a big time difference)

I will be coming to Houston end of March and planning to stay 1 month or 2 to shop around for good deals.

For single family we looking at homes:
Not older then 1980/ 3 bedrooms/1-2 bathrooms/2 garage /size 1000-2500sqft around 25-38$ per sqft/ (For Houston Area)

Looking forward to hear from you ;-)

Frederik
Flag Fri Feb 22, 2013
Your best course of action is to consult with several lenders who have the wherewithal to accommodate your objectives. I can refer you to two such individuals. Having worked with many investors, I'd be happy to locate appropriate homes that would work for you. There is no cost to your organization as buyers. Please forward your contact information. Best of luck with your endeavors. I look forward to hearing from you.

Regards ...

Al Geffon
(713) 213-6350
al@geffon.net
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Fri Feb 22, 2013
Hi Al,

Just try to call you. Let us know when is good time to contact you.
Its 1.40am here now, if ok we can have contact by email

Have a wonderful day!

Frederik
Flag Fri Feb 22, 2013
Thank you Al,

You can contact us on nutritioncenters (at ) gmail.com
1-713-357-6485 (phone nr is forwarded to Malaysia, there is a big time difference)

I will be coming to Houston end of March and planning to stay 1 month or 2 to shop around for good deals.

For single family we looking at homes:
Not older then 1980/ 3 bedrooms/1-2 bathrooms/2 garage /size 1000-2500sqft around 25-38$ per sqft/

Looking forward to hear from you ;-)

Frederik
Flag Fri Feb 22, 2013
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