Financing in Palm Springs>Question Details

Dorothy, Real Estate Pro in California

Does anyone know any wholesale lenders that have a foreign national program for a CA purchase (70% ltv)?

Asked by Dorothy, California Wed Aug 20, 2008

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Answers

9
Downey Saving
Eastern Saving Bank
Residental Capital

Especially Downey Savings. They will do 70% LTV.

Good luck!
2 votes Thank Flag Link Wed Aug 20, 2008
We can offer foreign national programs both on second home and investment purposes and both full doc and reduced documentatio. Down payments are 25% under $650K and 35% over $650K. Please let me know if you need anything else.
1 vote Thank Flag Link Wed Aug 20, 2008
B of A isn't doing wholesale loans these days, to my knowledge.
1 vote Thank Flag Link Wed Aug 20, 2008
Check with Franklin Financial. Email Fred Van Veen at fvanveen@dc.rr.com
1 vote Thank Flag Link Wed Aug 20, 2008
US Bank is the only one I know of still offering financing to Canadians. They don't advertise. 75% ltv, full doc.
0 votes Thank Flag Link Fri Jul 24, 2009
Here are the requirements from my preferred lender here in the Palm Springs area. Let me know if you need a referral.

Second Homes Only Purchase only SFR, Condos or PUDs ok 65% max loan to value/ 35% down required. no US SS# or credit required.

6 months reserves housing payment required in a US Bank account prior to final approval.

All Source of funds for down, closing costs and 6 months reserves must verified from the borrowers own funds. Letter from CPA stating income for 2006, 2007 and YTD Gross.

They will ask how long you have been in same job, what you do etc.

The rates are in the low to mid 6's right now.
0 votes Thank Flag Link Fri Oct 10, 2008
Does your client require a full doc or reduced doc loan?
0 votes Thank Flag Link Sat Sep 6, 2008
Call Lori Gray, Cal Metro Mortgage, 760/218-0515.
0 votes Thank Flag Link Wed Aug 20, 2008
Most lenders will deal with any nationality.
Try Well's Fargo or Bank of America.
Or ask your realtor which lenders are having any kind of incentive that you would be eligible for right nwo.
0 votes Thank Flag Link Wed Aug 20, 2008
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