Sandy, Home Buyer in New York, NY

Mortgage financing for foreigners

Asked by Sandy, New York, NY Mon Jul 15, 2013

Hi,
I'm a foreigner looking to buy a very nice condo in Orlando Florida for rental purposes. Especially to appeal to the tourists/holiday makers in the area. I need help on getting a mortgage & I'd like to have all the details required for a foreigner to secure a mortgage.
By the way, I already have a visitor's visa and an American bank account.

Thanks.

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Answers

11
Richard- El Bey’s answer
Foreign National Loans

Borrowers using TIN Okay
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Foreign Nationals {Expatriate}- NO PASSPORT {Must have valid work visa or 30% Down}
70% LTV Purchases
65% LTV Rate & Term Refinance
50% LTV Cash Out {Possible higher if financials are up to par}
Multiple properties OKAY
Corporation purchasing and refinancing OKAY

Richard- El Bey
Avarice Investments
(706) 399-7813 cell
(678) 752-8062 Office
thegocp@gmail.com
0 votes Thank Flag Link Mon Oct 14, 2013
Hi Sandy, I know a couple of lenders who are doing foreign national loans but each case is evaluated on its own merits. For the most part they require a minimum loan amount of $100K with
a 70% LTV, so purchase price will have to be at least $145K. The usual credit and documentation will also be required. If you do not already have an agent I would be happy to work with you to help you realize your goal. Feel comfortable to call or email directly.
Sylvia Paul
Realty Center
(407) 864-3139
sylvia@sylviapaulrocks.com
1 vote Thank Flag Link Mon Jul 15, 2013
Hi Sandy

I am Mortgage Loan Specialist and do Foreign National Loans. My name is Tom. We can do upto 70% on Second/ Holiday, homes (Single family or condo) for all nationalities

pls call me for further info

407 924 2759
tbawany@remn.com



Tom Bawany | Mortgage Loan Originator | NMLS #519971
Real Estate Mortgage Network, Inc.
500 Winderley Place, Suite 112
Maitland, FL 32751
F: 866.552.6351 | C: 407.924.2759
E: tbawany@remn.com | http://www.remn.com
0 votes Thank Flag Link Sat Aug 24, 2013
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0 votes Thank Flag Link Sun Aug 18, 2013
no problem I am from UK and help all foreigners buy homes here. I have several lender that can help you. I purchased a holiday home in 1998 and that started my long journey to becoming a US citizen, Please view my profile and testimonials. You will find that I am a good fit for what you want to achieve.


Please let me know if I can help you further
Do you or any one you know want to buy or sell real estate or a business in Florida? If so please let me know
Check me out at http://www.trulia.com/profile/DisneyWorldVacationHomes/#__rec
http://www.frontlinefloridarealty.com/Testimonials
search for a home here
http://MyFloridaHomesMLS.com/AlanMartin
http://www.FrontlineFloridaRealty.com
http://www.facebook.com/frontlinefloridarealty.com
http://AlanMartin.mfr.mlxchange.com/
http://www.LegacyDunesLeasing.com
Best wishes
Alan Martin
Lic. Real Estate and Business Broker
Accredited Luxury Home Specialist

8810 Commodity Circle
Unit 36
Orlando Fl
32819

Telephone +1 407 832 4888 Fax + 1 877 833 7163
e mail
please reply to:alan@FrontlineFloridaRealty.com or FrontlineFlorida@earthlink.net
0 votes Thank Flag Link Sun Aug 18, 2013
Hi Sandy:

I have a lot of international clients and several of them have used lenders to finance their properties. Please feel free to email so I can forward a few lenders that handle international loans to you.

Sincerely,

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 142 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 Springs, FL 32701
0 votes Thank Flag Link Tue Jul 16, 2013
Hi Sandy, Trustco Bank and TD Bank are two lenders that can assist you with your needs.
You will also most likely have to set up a corporation and you need a property manager and you need to be in the right area that allows this type of rental.

I can help you in all of these areas so please contact me at your earliest convenience to discuss this in more detail.

Brian Mahoney, CDPE
407-902-9792
REMAX
Town Centre
Orlando, Fl. 32801

http://www.briansoldorlando.com
mahoney@Brian sold Orlando.com
0 votes Thank Flag Link Mon Jul 15, 2013
Do be aware that to rent to tourists the property has to be zoned for short term rental.

Do read my blog on this topic: http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…

Finally also note that it is very hard for anybody, foreign or domestic, to get a mortgage on a short term rental condo.
0 votes Thank Flag Link Mon Jul 15, 2013
Hello Sandy

Our office works primarily with foreign nationals. With have several trusted advisors to help you in your quest to find rental properties. Please contact me for a more detailed information packet. It is great that you already have an established bank account in America.
0 votes Thank Flag Link Mon Jul 15, 2013
Hello Sandy
Yes there are several Banks that have Foreign National Loans. usually the require between 30 to 35% down payment. Please send me an email and I can send you additional information on their requirements.
Have a Great day!
Thanks
Luis J Garcia
Homelui Realty
321 276 6980
homelui@gmail.com
0 votes Thank Flag Link Mon Jul 15, 2013
Hi Sandy,

I work with several lenders that offer financing to Foreign Nationals.

Please let me know if I can assist you with finding the perfect investment property.


Michael D. Bellamy, P.A.,
REALTOR®, NHSE, SFR, BPOR, CDPE
Charles Rutenberg Realty, Inc
407.536.MIKE(6453) (direct)
407.622.2122 (office)
407-567-7551 (fax)
michael@michaelbellamy.net
Search the MLS: http://www.michaelbellamy.net
Know Your Options: http://www.shortsalemyhome.info
"The Standard of Excellence"
0 votes Thank Flag Link Mon Jul 15, 2013
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