I tried banks that offered 90% none of them actually did our loan I used http://www.eastcoastinvestmentsco.com they did it with 35% down payment but really did the loan it took a little longer than I expected 45 days but regardless we are happy.
I normally suggest to try several different lenders, including large banks like Wells Fargo, a reputable mortgage company (with different lender programs), and a local smaller bank.
You never know which will be the best in their program offerings/costs and requirements.
CDPE - Certified Distressed Property Expert
Beachfront Realty, Inc.
Or try: Sabrina McGill - Phone 602-285-3647 - E-Mail Sabrina.McGill@BBVACompass.com
Let us help you find a home.
Lori Hicks & Toni D'Avello
I looked into this and we have a rather unique investor who will go to 90% for foreign nationals on second homes and investment properties. They really like jumbo loans, so the minimum they will do is $225,000. To get to 90% (vs. the normal 60-70% loan-to-value) they want pledged assets. As with any unusual loan, there are other requirements which need to be discussed; done best one-on-one.
Please contact me if you are interested in pursuing further. Bill.
We have a loan program for foreign real estate investors. A 50% down payment is required.
Please feel free to contact me directly if you have any further questions, I'd be glad to help.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
Here is my lenders responce to you getting a loan.
Stan â€“ I have an option â€“ looks case â€“ by â€“ case â€“ I would have the prospect send over all asset statements (bank, retirement, etc) and employee items if he is Entering the US. Is this the case? Thanks!! Eric.
Immigrant / Expatriate loan program
This program is for professional immigrants entering the USA on an acceptable visa.
No SSI or TIN number required.
When no credit score is present or we have a false score, we will consider these clients as having a 740+ credit score when qualifying with only a +.75% rate adjustment.
We do not have restricted markets. Product is available in all 50 states.
Loan sizes up to $3,000,000.00 allowed with no LTV reduction from the standard.
80% ltv to $1,500,000.00.
Foreign assets are considered on a case by case basis for reserves and down payment.
We will qualify on offer letters and / or first paystubs.
The program is also offered to US citizens living abroad working for a US based company, even if no credit score is present.
US citizens working abroad for foreign companies may be considered on an exception basis if US tax returns have been filed showing the foreign income.
This program has been a huge hit for our brokers with lead sources within relocation companies, executive recruiters, and HR departments within the Oil and Gas industry, Tech industry, and medical fields.
V.I.P. Mortgage, Inc
4900 N Scottsdale Rd, Ste 6000
Scottsdale, AZ 85251
There are quite a few lenders that will loan money to a foreign national. But it does depend upon your situation and where you are from.
The easiest loans to get are for a second home or one investment property. Once you get beyond this it can be more difficult. There are also hard money lenders and this will depend upon what the deal is. Most investors use hard money if they are flipping and not holding as the interest rates for hard money are quite high.
We would be more than happy to discuss your situation and help you with a list of lender names. If you have any questions, please do not hesitate to contact us.
Ron & Brenda Cunningham
West USA Realty
**** Recognized in the Phoenix Business Journal as "One Of The Top 50 Realtors In The Valley"
We had a meeting on this very topic just a week ago. We are looking to bring in investors for foreign nationals in the near future. One of the issues raised, and what keeps most foreign nationals out of the investing pools, is the lack of ability on the part of the investors to verify the borrowers' income, credit and assets; three out of the four "Columns of Lending" as I like to say (the other column being the property provided as collateral). We can fairly easily verify these three items for US and Canadian citizens, so they get invited into the pool.
Also, I just realized you are asking about investment properties, as opposed to primary or second homes. The still all-too-recent real estate meltdown has Mortgage investors already spooked about such properties, even for a US Citizen. Add on the extra risk factors of not being able to completely verify all the "Columns" AND the absence of the borrower from the country, should something go wrong, and I think anyone can see why this is so. Because of this, our investors are looking to form a pool of second homes, not investment properties, I am afraid.
You are familiar with the "Aussie" financial system. If you feel you can substantiate your position in these three areas, such that American underwriters can feel comfortable with it, your chances of obtaining financing will be greatly enhanced. Good luck.
HomeSmart Real Estate
480 248 4577