Vincent Chung, Home Buyer in Union City, GA

Apply for loan - Non US Citizen

Asked by Vincent Chung, Union City, GA Thu Apr 4, 2013

Is there a chance for non US citizen to get a loan or refinance the investment properties that we have hold almost a year or more?

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8
Jim, Both Buyer And Seller, Norcross, GA
Wed Feb 4, 2015
Watch out the guy named Ricard - EI Bey.
He is a fraud. He cannot get you any loan at all. What he does is cheat your money for appraisal which he will never done. Once if he got the money, he will not answer your phone or email anymore. You can search at Georgia License website, he does not have license at all. Just a fraud.
0 votes
Richard- El…, Other Pro, Augusta, GA
Thu Dec 5, 2013
I can get it done for you

Allow me to briefly introduce myself, I am Richard- El Bey. I have been in the lending business since 2000, and I am partnered with several banks and private investors that can help you put more of your clients into homes, and I work FAST!

What it is we can offer you and your clients

F.H.A. Desktop Underwriting 57 DTI
F.H.A. No trade lines 620
F.H.A. Purchases. 3.5% down, 3% seller concession, 3 months reserves (can be gift)
Use assets as income
660 FICO No cancelled rent checks
F.H.A. Streamline on investment property 620 FICO
1-2 unit {no income, no appraisal}
3-4 unit {income, no appraisal}
H.A.R.P. loans with unlimited LTV/CLTV primary and second home
90% JUMBO loans up to $2,100,000 residential
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Borrowers using TIN
Foreign Nationals, [Expatriate]- No Passport {Must have valid work visa or 30% down}
V.A. loans
Finance up to 20 properties with us
Condotel
Non warrantable condos
580's OKAY
Past foreclosure or short sale, OKAY
65% of appraisal value financing for commercial purchasing or refinancing
20% down hard money do not care what the credit is purchasing
As well as private lenders looking for hard to do borrowers
We can get your dead loans DONE and keep your income growing.

Richard- El Bey
Avarice Investments
Wealth advisor
(706) 399-7813
(678) 752-8062
Email: thegocp@gmail.com
0 votes
Chris Hendri…, Mortgage Broker Or Lender, Westlake Village, CA
Mon Dec 2, 2013
We can do institutional mortgages for Foreign Nationals who live and work in the U.S., AND for those who do not. California properties only.

Chris Hendricks
OnQ Financial
818-665-6066
chris@chloan.com
0 votes
rupihundal3, Home Buyer, Chandler, AZ
Thu Nov 28, 2013
Can a British citizen who has owned a home in AZ for 4 years re-finance?
0 votes
Yes, I can help you get that done as soon as you are ready to do so.

Richard- El Bey
(706) 399-7813
Flag Sat Feb 1, 2014
Richard- El…, Other Pro, Augusta, GA
Thu Jun 20, 2013
I can get it done for you

Allow me to briefly introduce myself, I am Richard- El Bey. I have been in the lending business since 2000, and I am partnered with several banks and private investors that can help you put more of your clients into homes, and I work FAST!

What it is we can offer you and your clients

F.H.A. Desktop Underwriting 57 DTI
F.H.A. No trade lines 620
F.H.A. Purchases. 3.5% down, 3% seller concession, 3 months reserves (can be gift)
Use assets as income
660 FICO No cancelled rent checks
F.H.A. Streamline on investment property 620 FICO
1-2 unit {no income, no appraisal}
3-4 unit {income, no appraisal}
H.A.R.P. loans with unlimited LTV/CLTV primary and second home
90% JUMBO loans up to $2,100,000 residential
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Borrowers using TIN
Foreign Nationals, [Expatriate]- No Passport {Must have valid work visa or 30% down}
V.A. loans
Finance up to 20 properties with us
Condotel
Non warrantable condos
580's OKAY
Past foreclosure or short sale, OKAY
65% of appraisal value financing for commercial purchasing or refinancing
20% down hard money do not care what the credit is purchasing
As well as private lenders looking for hard to do borrowers
We can get your dead loans DONE and keep your income growing.

Richard- El Bey
Avarice Investments
Wealth advisor
(706) 399-7813
(678) 752-8062
Email: thegocp@gmail.com
0 votes
Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Sun Apr 7, 2013
Hi Vincent,
A major factor would be your citizenship status. All traditional mortgages (i.e. FHA, VA, USDA and Fannie Mae/Freddie Mac for Conventional) are going to require certain citizenship status. You must be either a US Citizen, a Permanent Resident Alien, or a Non-Resident Alien. A Non-Resident Alien will require only certain Visa statuses and additional requirements.

You must have a verified 24 month employment history with 2 years of US filed Federal Income tax returns. A US credit history is also required. Anyone not meeting these definitions would likely be considered a Foreign National.

Foreign National lending is not currently readily available. Very few lenders offer such a program. Right now, the Foreign National financing that is available is generally only for higher loan amounts and for Second Homes and not Investment Properties.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes
William Pola…, Mortgage Broker Or Lender, Suwanee, GA
Fri Apr 5, 2013
Oops...there's one more Fred. Private Money financing. With the EIN that is issued by the IRS to virtually anyone (because we need the money), you can purchase or refinance (or take equity out) using private funds. Here's what my investors offer:

For loans over $100,000:

Rate starts at 9.5%
Loan is for up to 5 years
Interest Only option
No prepay penalty
There is an upfront fee
You can buy multiple properties to meet the minimum
Can finance up to 67% of the value of the property (investor fees are 8% and financed into loan)
Can purchase up to 67% of the value of the property and put zero down (good for people with bad credit too).
Can be owner occupied or investment
Can be residential or commercial

For loans less than $100,000
Rate starts at 12%
Loan is for up to 2 years
Interest Only
There is an upfront fee
Minimum loan is $25,000
Up to 65% of the As Is value
Investment properties only
Allows for seller held second mortgage to 100% combined loan to value (CLTV)
Can be residential or commercial.

Hope this helps!

Bill Polack
404-644-3295
billpolack@yahoo.com
0 votes
Fred Yancy, Agent, Woodstock, GA
Thu Apr 4, 2013
MORTGAGE LOANS FOR NON-US CITIZENS


We receive requests from people interested in buying a home in the United States who are not US citizens. The status of a person in the United States makes different loan programs available depending on the length of stay that the person is allowed to stay in the country.

We will try to describe these options from least difficult to most difficult.

PERMANENT RESIDENT ALIENS

These people are able to apply for a loan in exactly the same conditions as any US citizen. Loans to these customers are purchased automatically by Fannie Mae and Freddie Mac. The person must show us the ?green card? issued to him by the Immigration and Naturalization Service (INS). Sometimes the bank will ask for an authorization to contact the Social Security Administration ( SSA) to confirm the social security administration. These borrowers have access to all loan programs, first mortgages, second mortgages, home equity lines of credit and mortgage insurance. Borrowers must have a valid social security number.

H1B VISA HOLDERS

H1B visas are issued to international workers who come to the United States for a definite period of time. Usually between three and six years. Normally banks treat these applicants as permanent residents, in some cases they will ask to see a petition to extend the residency permit. Interest rates and conditions will be similar to those offered to US citizens. The SSA will have provided these applicants with social security numbers.



WORK PERMIT

Known as the Employment Authorization Document ( EAD) the work permit is given to students, fiancées of US citizens, foreign diplomats, special workers. Fewer banks are willing to provide a mortgage to these persons due to the short term they are allowed to stay in the country. Other banks state that they are only concerned that the person is in the US legally and will provide a mortgage under normal conditions.

FOREIGN NATIONALS

It has become very difficult to obtain mortgage financing for foreign nationals in the last year. Fannie Mae and Freddie Mac have removed those options from their offerings. Most national mortgage lenders that provided foreign national mortgages no longer offer them. Several banks in Florida still offer loans to foreign nationals who are buying property in that state. The borrower usually has to put 25% as down payment and provide proof of employment and credit in his native country. They must provide a tourist visa that allows them to visit the US and the home they buy in the US will be considered a second (vacation) home for them. It is unfortunate that this kind of financing is so restricted at this moment. Investments by foreigners at this time of a glut in the housing market and a weak dollar would open up many options to sell homes.



ITIN MORTGAGES

For many years the Internal Revenue Service ( IRS) has provided non US citizens with Individual Tax Identification Numbers (ITIN). These numbers are used by the IRS to track (and be able to tax) income from dividends, savings, commissions and other income generated in the US. The ITIN does not allow the person to live or even be in the United States, it is only a medium for tax control. Some companies however are using the ITIN to identify their customers in credit transactions and thus reporting them to the credit bureaus. A limited number of national banks offer mortgages to ITIN holders. Some banks will use the ITIN number when assigning customers checking, savings accounts and CDs. Some local and regional banks offer mortgage loans to customers with ITINs. These customers provide a history of employment, sometimes alternative credit documents ( utilities, insurance bills, retail accounts, cellular phone bills) and bank statements to qualify for a mortgage loan. At one time loans for these customers only required 3% down payment, now most programs require between 10% and 15% down payment.
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