Financing in Carmel>Question Details

Brad Maggart, Home Buyer in Outside U.S.

I am an expat living in Japan. I am looking for a convertible construction loan for a new home in Carmel. I have great credit, zero debt and

Asked by Brad Maggart, Outside U.S. Fri Sep 9, 2011

significant assets but no current U.S. sourced income. We do have Japan sourced income. Are any lenders interested in my business?

0 votes Share Flag Financing in Carmel

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Fred Yde’s answer
Hi Brad,
There will be lenders interested in your business if you can prove your income source, or paid taxes on that income, etc. I would be happy of course, to help you connect with a reputable lender who can see you through the necessary steps of financing a new loan.
Fred Yde
0 votes Thank Flag Link Wed Sep 12, 2012
Do you report your foreign income on U.S. tax returns? If not, then could be pretty difficult. If you do, then quite a few lenders will accept that income (including us, but we don't do construction loans). Not a lot of lenders do construction loans these days, and odds are of them being here at Trula are slim, so I wouldn't be surprised if you don't get many responses. I'd recommend you seek out mortgage lenders who do construction loans in Indiana, and then narrow down those to who would be able to use your foreign based income.
0 votes Thank Flag Link Fri Sep 9, 2011
Hi Brad,

I have a German client buying a home here now. If you contact me
I'll send you contact information for the lender my German client
is using.

It's best to have a lender who is experienced.


0 votes Thank Flag Link Sun Sep 9, 2012

Thanks for the question. I have a couple of lenders whom I trust implicitly. Please feel free to contact me directly and I'll pass their info along.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501!/jojosmojo
0 votes Thank Flag Link Fri Sep 9, 2011
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