Home Buying in Orlando>Question Details

sweetrach11, Home Buyer in New York, NY

I want to ask how lenders lend towards buying houses to foreigners ( investment or second home) properties? Please if you know any thing.

Asked by sweetrach11, New York, NY Wed Feb 13, 2013

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The mortgage broker who works with our company tells me that New Penn has the best program out there without country restrictions. (There are plenty of programs for Canadians and western Europeans, but, not much outside those areas.) Here is the link to their program: http://www.newpennfinancial.com/loan-options/foreign-nationa…
0 votes Thank Flag Link Sat Feb 16, 2013
There are several lenders that work with foreign buyers. Typically they require a 35% downpayment and charge a higher interest rate. If you would like to receive a list of lenders please contact me at marionthacker@yahoo.com or 321-662-7500. We are an international real estate brokerage firm with offices in 38 countries and therefore have a lot of experience in dealing with foreign buyers.

Regards,


Marion Thacker
Engel @ Voelkers Real Estate
558 W. New England Ave, Suite 120
Winter Park, FL 32789
0 votes Thank Flag Link Wed Feb 13, 2013
Hi There:

There are certain lenders who are specialized in foreign loans. I have had several clients from different countries that used a loan to purchase their home here.

Please feel free to email me for a list of lenders. This way you can contact them and see what their requirements are and which one would fit your needs the best.

Thanks,

Abraham Bidhendi
Top Producer Realtor® with over 25 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 165 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Website: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte
0 votes Thank Flag Link Wed Feb 13, 2013
Usually 25 percent down is the minimum, but it also depends if you're buying more than 1 that can be structured in a few different ways.

I am happy to introduce you to a few lenders I deal with that handle investment loans/ portfolios.

Brian Mahoney
Remax
Orlando
0 votes Thank Flag Link Wed Feb 13, 2013
Many large banks do not yet loan to foreigners. A few, such as TD will loan to Canadian buyers, but usually only 2nd homes. I have several others who will also do investment loans, depending on certain factors such as the country you are from. Some only do Canada. Others do Brazil and Canada, etc... Most require 25-30% for 2nd home and 30-35% for investment, if they do them. Please feel free to contact me with more of your details for more information.
Don Shippey
REMAX Properties SW
donrshippey@gmail.com
0 votes Thank Flag Link Wed Feb 13, 2013
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