David Cibin, Home Buyer in Outside U.S.

Foreign National to buy investment property

Asked by David Cibin, Outside U.S. Wed Aug 21, 2013

Hi,
I’m looking for foreign national lender, my interest is to buy a condo in Miami Beach that I can rent for short periods (vacation rental) and I can use whenever I need.
The properties I’m interested is up to US$70,000 and I have about $35k for down payment, however it would be great pay less for down payment.
I know some lenders have minimum loan size of $100k that actually could work for me, but only if I can get two properties in one loan. But remember that I only have $35K for down payment.
More details in case that helps, I'm a brazilian(still living in Brazil), I already have a Social Security and Checking Account with Bank of America since last January, I do have a good credit score, last month I checked and it was 728, however all my credit history is only 7 month old, that was when I opened my account and got a credit card.

Contact me only if you can help, thanks

david@studioid.com.br

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Answers

3
Hi Hope your doing well! Take a look on my new website as it has up to date re sales as well as all the new developments in Miami. The site is http://www.exquisitemiamiproperties,com.

Let me know what I can do to help you.

Thank you,

William Henderson
0 votes Thank Flag Link Tue Sep 3, 2013
foreign nationals can only apply for loans 50% to value and minimum $100000 which limits them in miami beach to a minimum purchase of $200000 ( 1 bedroom condo)
0 votes Thank Flag Link Tue Aug 27, 2013
Hi David,
The right way to do it is to first have the money on a US bank account.
Make sure you have a Credit card and not a Debit card. Big difference.
Make few payment with the card you already have so their is some activity and repay on time, Not the full amount each time but the minimum on so forth every cycle.
Try to make few deposit as well. Helps a lot, too.
Your Credit history is still to young.
You may contact me at viewofmiami@yahoo.com for more info on this subject.
0 votes Thank Flag Link Tue Aug 27, 2013
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