Are there any mortgages available for non-resident foreigners looking for a townhouse or single family in Bay Area, CA?

Asked by Avi, Dublin, CA Tue Oct 5, 2010

Are there any mortgages available for non-resident foreigners looking for a townhouse or single family in Bay Area, CA? If so, what would be approximate rate, down payment, terms, etc.

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7
, ,
Fri May 18, 2012
Avi:

What is the purchase price you are looking at?
Generally, these lenders will want a 30% down payment.
The rates are higher than what you see advertised on internet websites, as these are not traditional lender programs.
The programs that I have seen are 5/1 ARMS and 7/1 ARMS in the high 4s to low 5s interest rates.
The minimum loan amount this particular lender allows is $300k.
0 votes
jjacobsDO, Landlord,
Sun Dec 5, 2010
You should reach out to Tom R. Callahan, a Senior Mortgage Banker with a bank called BBVA-Compass.
E-mail him and request his guidelines on the Foreign National program.
I feel sure his requirment is 25% down with attractive rate/terms.
I have represented several client's that have used his services and it is the real deal.
BBVA is the 7th largest bank in the world and Mr. Callahan is one of their top mortgage officer's.

His e-mail is: tom.callahan@bbvacompass.com

Good luck with this, TJ
0 votes
, ,
Wed Oct 6, 2010
Avi,
I forgot to mention, all of our lenders for this product require a minimum loan amount of $300,000 or higher.
Web Reference:  http://www.umboc.com
0 votes
, ,
Wed Oct 6, 2010
Avi,
We provide financing for Non-Resident Foreign Nationals in California. You will need excellent employment history, assets and credit standing in your native country. Some banks, not all, will require you to open an account with your application. Usually around $100,000.

Rates will vary by lender. From the mid 4's to the low 7's. Down payment will be from 25% to 30%. Terms from 30 Year Fixed Rate to adjustable rate all the way down to a 3/1 ARM. The higher the perceived risk, the higher the rate, along with shorter term products.

Please contact me if you wish would like more details. ..... Thank you, Rudi
Web Reference:  http://www.umboc.com
0 votes
Helen Kwong, Agent, Berkeley, CA
Tue Oct 5, 2010
Hi Avi,

Definitely, I helped many non-resident foreigners bought homes and/or investment properties in the bay area. Feel free contacting me, I am happy to introduce you to those lenders and help you qualify.

Have a good evening!

Helen Kwong, Realtor
510-846-6989
helen@helenkwong.com
0 votes
, ,
Tue Oct 5, 2010
Hi Avi,

Yes, there is financing for foreign nationals. I work for a Mortgage Bank that has a Foreign National loan program that lends in the Bay area. We do not require a US Social Security Number (SSN) or US credit to qualify for this program. We do require a 30% down payment with interest rates in the mid to upper 4% range (depending on where rates are when you lock your rate) for a 30 year fixed-rate home loan. We also have 15 year fixed-rate loans available, as well.

Please feel free to contact me; I'd be glad to help you.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund our own loans, on time. NMLS ID 263779 | AZ BK 0903725
Web Reference:  http://www.ezAZloan.com
0 votes
ANDREW OLLICK, Agent, NAPLES, FL
Tue Oct 5, 2010
Here are the standard for a Florida Foreign national Loan:
70-80% LTV
4.875%-7% rate
SFH or Condo
Documentation needed:
6 months reserves
last 2 years tax returns or accountant's letter ( if self employed)
Employment letter ( if salaried)
Proof of residence
Proof of paid taxes/HOA on current residence
3 months bank statements
4 credit referrence letters.

These requirements and terms may vary from lender to lender and state to state, slightly, but it'll give you an idea of what to expect.

Good Luck

Elena Ollick
239-206-4500
0 votes
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