Home Buying in Waltham>Question Details

Kenzo Tatsuno, Real Estate Pro in Waltham, MA

Any mortgage brokers out there that can help foreign citizens with approx $150K down?

Asked by Kenzo Tatsuno, Waltham, MA Thu Jul 5, 2012

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6
Yes, please give me a call at 781-424-8931. I work for a lender
0 votes Thank Flag Link Sun Aug 5, 2012
Our investor does not need money seasoned in the US. It should be coming from a familiar source though (like a large multinational bank).
0 votes Thank Flag Link Thu Jul 5, 2012
There are quite a few who should be able to help you. I would have agreed with Greer, I have found that money used for a down payment must be 'seasoned' in the US per Fannie and Freddie guidelines, but there are alternate options out ther I am sure, as Richard has eluded to. You also didn't say that the money down itself was foreign, so that may not be an issue for you. Ask your realtor if they have contacts for you.
0 votes Thank Flag Link Thu Jul 5, 2012
Greer,

US income is not needed. We do have to document their income though and that means getting documents translated.

My suggestion as a Mortgage Broker is to never try to qualify your clients yourself. You might be turning away business that could be closed!!
0 votes Thank Flag Link Thu Jul 5, 2012
Hi, Kenzo ... based on my understanding of the parameters of the lending industry ... the first question is whether the foreign citizen has demonstrable US source of income (and for how long?). If not, then your next avenue to pursue would be to look into banks and financial institutions that may have ties into the community/country of the foreign citizen in question. They may offer a portfolio loan of some sort based on their expertise/relationship with the individuals source of finances.

Good luck! Always a pleasure to work with you and look forward to the next opportunity!
0 votes Thank Flag Link Thu Jul 5, 2012
Yes. We have an outlet for a foriegn national.

Rich Shapiro
Asset Mortgage Group
Natick MA

rshapiro at assetmortgage dot net
0 votes Thank Flag Link Thu Jul 5, 2012
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