Financing in San Antonio>Question Details

Hong Wei, Home Buyer in Washington, PA

Which conventional lenders in San Antonio will loan to foreigners to buy investment properties? Flexible on tenor of loan and LTV (~50%)

Asked by Hong Wei, Washington, PA Mon May 13, 2013

Looking for new loans and refinance of existing free and clear properties. Properties have been held for 18 months but will be transferred to a newly setup LLC.

Help the community by answering this question:

Answers

5
Hi Marco and Jason

Thanks for the advice. The LLC has not been setup as of now, so its definitely new.... Would it help if there is a personal guarantee on top of the LLC commitment?

Hard money lenders will not make sense in my case as my returns will be lower than their rates
0 votes Thank Flag Link Tue May 14, 2013
Actually, there are plenty of lenders that handle foreign nationals buying investment homes. The LTV being at 50% or below makes that a very easy loan to pull off.. the only hurtle may be how new the LLC is... if that becomes an issue that these lenders don't want to play with... you may have to look at a hard money lender.. only issue with that is... the interest rates and terms are not so hot.
0 votes Thank Flag Link Tue May 14, 2013
If you're meaning foreign national you'll find that most of those loans are for primary and 2nd home use only, not rental properties. Closing them in a new LLC also presents another hurdle as the entity would likely not show any income to qualify off of. There may be something out there I'm not thinking of but my guess is your only option is Private Money financing for this until the LLC is more up and running, showing income etc...If i can help with that let me know.

Marco Bolado
210-286-8136
0 votes Thank Flag Link Tue May 14, 2013
Thanks Terri. Will look for Jim to discuss.
0 votes Thank Flag Link Mon May 13, 2013
SWBC has an excellent program for just this buyer. The best terms and excellent service. Call Branch Manager Jim McKissick 2103832560 and he can answer any questions you have.

I have had several clients finance with his office and they have all been successful.

Terri Russo, Realtor
Home Team of America
210-385-0305
0 votes Thank Flag Link Mon May 13, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer