Grant has done his homework. Again, there is NOT a traditional conforming bank that will loan without proof of income.
Ms. Sharon Butler - Can you please suggest a traditional bank or direct lender that will do this loan? Please provide a name and number - I'm confident that the real estate community will benefit from your resources.
In addition, Ms. Butler said I was a "Mortgage Broker". I'm a "Mortgage Banker" not a broker. We are a direct lender so we have more control over the process but we stick to conforming guidlines.
Lastly, if Ms. Butler read my posting I stated "You would need to go to a hard money lender + you will pay dearly for it. "
It appears, according to Ms. Butler, that she already has a hard money lender. Maybe she can assist you with this tansaction. However for the most part "hard money lenders" typically do short term & bridge loans."
Best of Luck.
Castle & Cooke Mortgage
Sheryl Arndt, Real Estate Broker â€“ Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
My wife and I we has been helped many International buyers purchased home here in the USA, YES with 40-50% down payment we can get you in the Real Estate Investment Deal ... YOU DON'T NEED LENDER to borrow $$$ ... we have few seller's finance deals out there for you ... Please contact us for showing appointment.
Meet our Happy Clients to see what do they have to say about our services , TESTIMONIAL click here => http://vinnytran.com/gold_testimonials.asp
Vinny Tran / Nancy Do
Mr."Little Saigon" & Associates
CA Broker ID # 01153694
This could work if your overseas family buys the property for you.
Foreign nationals can get a mortgage with 40-50% down - even 25 to 30% down.
There are many banks that will do this for you, gladly.
Best of luck,
CDPE - Certified Distressed Property Expert
Beachfront Realty, Inc.
Lenders are being very careful now in awarding mortagae loas, and a buyer MUST be able to provide proof of income, it can be from a job, or self employment but proof of income will be needed.
Best of luck to you
Kawain Payne, Realtor
You would not to go through a traditional mortgage lender, if you are not employed. Thats great you have family supports overseas. you would have to talk to a mortgage broker who deals with situations like this. Yes the interest rate for the loan will be higher and they would need to talk to you and get all your information.
You can call Jeff Coley Mortgage Lender at 949-922-7063.. Tell him I referred you. Then I can help you in finding a place.. Call or email me once you have talked to him.. Good Luck..
Ingrid Ski Realtor
If you put your 50% down and can show that you have additional funds in the bank this lender will divide the total value of your assests by 120 months (10 years) to give you income.
You may not utilize retirement accounts for this program unless you are 60+ years old.
It is definitely not a conventional loan, but the rate is about 2.75% over the LIBOR index
I'm a Mortgage Banker. No - you will not get a loan with a 40-50% down payment and no proof of income. You would need to go to a hard money lender + you will pay dearly for it.
Any advice stating otherwise is 100% hogwash.
Best of luck.
Castle & Cooke Mortgage
rks with investors who flip homes. I call myself a real estate investment advisor! We get loans based on the property not the person, so your answer is YES you can get a loan, but do not expect 4.5 to 5%!
If you have questions, feel free to contact me directly,