If you have any additional questions, please email me and I'll be happy to share my knowledge and experience working with Foreign Nationals
GMAC Pacific Union Real Estate
On lenders point of view.
I have worked for several national banks and we have eveluated various demographics and borrowers, such internation borrowers is one of them. When the data came back, we have realised that foreign investers has very minimum rate of defaulting due to the fact that they put more down payment. However, the risk side, foreign invester means, who has no history of iborrowing n the country, and no record. Which is obviously a no no., if the housing market is further deterating. Therefore lender usually ask 20% 30 down payment depends on the size of the loan. Wachovia requries 30%.
One last point is that no country encourages huge flood of foreign real estate investers to invest in their country. That means it is part of law makers decision whether to ease the restrictions on it or not.
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