Market Conditions in Miami>Question Details

Ilan, Home Buyer in Cutler Bay, FL

im not a us citizen. will it be problematic for me to get this morgage ?

Asked by Ilan, Cutler Bay, FL Tue Jun 5, 2012

im not a us citizen. will it be problematic for me to get this morgage ?

Help the community by answering this question:


Hello Ilan,

This is not a problem.
There are many lenders who do foreign national programs.
I can recommend a couple of mortgage professionals for you.

To answer your comment, more desirable areas have higher prices - so rate of return is lower.
You could get 10% in condotels - but the purchase would need to be cash.
You could also buy with a hard money lender (if foreign national program does not work).
I can recommend a good one.
Best - to meet and go over different "profitable" areas for your purchase.

To talk more specifically, feel free to contact me and my team.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Thu Jun 7, 2012
Good Morning IIan,
You can get a loan as Foreign National. Not all lenders are doing this type of loans. You will be required to do at least 25% down payment depending on the type of property.
I can advised who are doing the loans and help you get the right property.
You can contact me anytime,

Marco Torres
Miami Premier Realty
0 votes Thank Flag Link Wed Jun 6, 2012
can you tell me witch area in Miami is best for rental return ?
Flag Wed Jun 6, 2012

I was just talking to a mortgage broker this week who told me he did mortgages for "L" visa holders.

If you're here on a tourist visa (or you're from a visa waiver country), you will have to qualify under the Foreign National rules. If you have a long-term working status, there may be other options available.
0 votes Thank Flag Link Tue Jun 5, 2012
You do NOT have to be a US Citizen to obtain a mortgage. You can be a Permanent Resident ("Green Card") holder and prove residency for at least 2 years and you're treated the same as a Citizen. All others are considered Foreign Nationals and can get financing with the right credentials. Programs, pricing and loan products can vary and may be "tailorable" to your particular circumstance. If you want additional help & info please feel free to contact me in the week. Best, Steve E
0 votes Thank Flag Link Tue Jun 5, 2012
i would like to know of the best place in Miami to buy a city house for 100K and get a return of 10%. its ok to get less then 10% if it is a popular renting area. i understand i can get a morgaj for 70%. i would like to arrive at the beging of june for some shoping
Flag Wed Jun 6, 2012
With the right basic requirements lenders ask for you should be able to get a mortgage, you will need to provide documentation etc., and not all lenders will service non American Citizens, If you need any
assistance let us know we can make some good recommendations for some good Realtors in the area in which you intend to buy, so thaT the Realtor you select will be able to connect you with the
right lenders...

Good Luck to you!
Edith YourRealtor4Life! Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike.... Covering the city of Chicago, all N and NW suburbs and the fine homes of the North Shore. Edith always goes the X-tra Mile with SMILE for her clients.

@Properties Northshore - 30 Green Bay Road, Winnetka, Il. 60093
Feel free to visit my website to get to know me and my services better.....
0 votes Thank Flag Link Tue Jun 5, 2012
Hi IIan,

You don't have to be a US citizen in order to get a mortgage.

It all depends on the lender, but typically you will get the same conditions like a citizen if you are a greencard holder. If you don't have a greencard either, the lender will probably ask you for a higher down payment than he would from a citizen or greencard holder.

You should talk to a couple of lenders and ask them for their conditions. There are a lot of international investors in Miami, so lenders deal with it on a regular basis. Mortgage rates are on a historic low again.

Good luck! And do not hesitate to contact me, if you have questions of if you need assistance with your home buying process. I am happy to help!

Thank you,
Ania Lenzholzer
Coldwell Banker RE
0 votes Thank Flag Link Tue Jun 5, 2012
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