Home Buying in 10005>Question Details

Ap, Home Buyer in New York, NY

I am a foreign national buying in NY. Can I receive 75% financing?

Asked by Ap, New York, NY Mon Sep 8, 2008

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9
75% financing anywhere is not difficult. Do you have a credit rating? Are you employed here?

Contact me off linet at Gail@GailGladstone.com and I will refer you to a terrific mortgage broker who is focusing on foreign national lending.
Web Reference: http://GailGladstone.com
1 vote Thank Flag Link Mon Sep 8, 2008
I don't see why not, but you have to speak to a banker. Patricia Madison, Wells Fargo Bank 914 437-8692
Web Reference: http://Paulmvpteam.com
1 vote Thank Flag Link Mon Sep 8, 2008
It will require 35% down. That is the correct answer. There are not many lenders who offer a foreign national program. We do!
0 votes Thank Flag Link Tue Mar 3, 2015
It will be very difficult - usually there is a minimum of 40 to 50% down for foreign buyers. If you have significant US credit history, it may be possible. I work with many excellent mortgage brokers you can speak with for more detailed information if you are interested.
0 votes Thank Flag Link Tue Feb 24, 2015
It will be very difficult - usually there is a minimum of 40 to 50% down for foreign buyers. If you have significant US credit history, it may be possible. I work with many excellent mortgage brokers you can speak with for more detailed information if you are interested.
0 votes Thank Flag Link Tue Feb 24, 2015
Very unlikely Ap. These days you will probably have to put down close to 40% if you have any chance of making a purchase here.

I'm with Douglas Ellimand and we have our own mortgage company, if you like I can get you a couple of #'s to our mortgage brokers who deal with probaby 30 different lenders on regular bases and they can further advice you on what is required.

Let me know,
~Alen
0 votes Thank Flag Link Fri Sep 26, 2008
We lend 75% up to 650. Do you have a social security or ITIN #? Please email me with your exact scenario and I will let ou know if we can fincne you. sunny_hong@countrywide.com
0 votes Thank Flag Link Wed Sep 10, 2008
Gail may be correct. The banking industry has clamped down of motgage financing as a result of the large amounts of loan defauls. Here in Florida, most lenders require full documentation; bank statements, credit, trade references and more possibly.

The loan to value for foreign nationals is more in the range of 35-40% or 60/65 LTV.

There may be private lenders that would be willing to stretch the LTV at higher than standard rates.
0 votes Thank Flag Link Mon Sep 8, 2008
Correction to my last response: Assuming no green card, credit and residence here, 65 per cent is the highest you can get.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Mon Sep 8, 2008
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