can i get a home mortgage if i do not have a social # i am a Canadian looking to buy more Florida property. I already own 5 properties in Florida,

Asked by mikelobbster, Fort Lauderdale, FL Mon Apr 8, 2013

paid all cash for the properties,

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Tchaka Owen, Agent, Fort Lauderdale, FL
Sun Apr 14, 2013
There's nothing wrong with Hard Money, they fit certain situations very well. Not sure you're in that situation though. If you have assets and income you should not have a problem getting a mortgage as a foreign national. A number of US banks offer them. I also suggest you see if RBC will do it (here they've been gobbled by PNC Bank).

Good luck!

Tchaka Owen
Keller Williams Realty Professionals
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Michael Rose…, Agent, Ft Lauderdale, FL
Tue Apr 9, 2013
Yes you can get a loan with 30% down. And actually as a Canadian citizen the american bank can request your credit report from Canada and use it as a basis of an approval as well. Do not go the HARD money way... HARD means high interest rate. Here's a list that will help you be prepared:

Foreign National Requirements

1. Legal full name_______________________________________________________

2. Current full home address_____________________________________________

3. If-current home address is less than two years need previous

4. Phone numbers: hm _________________________ wk ___________________________

5. Email_____________________________________________

6. Social security number if you have or ever had one____________________________________

7. Date of birth: ________________________________________

8. Employment or business information for two years:



c.Phone: _____________________________

d.How long in business or employed ___ / _____

e.Previous: ______________________________________how long ___/____
phone number_________________________

9. Copies of Borrower(s) valid ID two from this list: Valid Visa, Passport, Valid Work Visa, and Driver's License
(country of origin).

10. One document that confirms borrower's home address: Utility Bill, Property Tax Blll.or Credit Card

11. Original Reference Letters- All letters of reference are to be on company letterhead, dated and executed by the appropriate

parties. English translations are to be placed in front of the reference letters, two letters needed personal and two Bank

reference (not from a credit card company), both can be from country of origin or one can be from the US in each group but to start

we can use a fax or em ail copy and original to follow.

12. Asset Verification: 2 months Bank Statements, savings, etc. May be from county of origin, however, documentation must be translated and currency converted to US dollars. All funds must be sourced. Six months reserve required in a bank in the US. (ONLY FOR CLOSING)

13. Most open or have a Bank account here in the US.

14. Two years Income Verification: IF SELF-EMPLOYED: ORIGINAL ACCOUNTANT LETTER: Letter must explain borrower's source of income and

must include previous two years of income and current year to date income. All letters of reference are to be on company

letterhead, dated with legal name, length of time, position and percentage of ownership, executed by the appropriate parties.

English translations are to be placed in front of the reference letters. SALARIED EMPLOYEE: Letter from Employer stating current monthly salary, year to date and a valid pay stub(s) of one month employment also English translation.

15. Purchase/Sale Agreements- All pages including addendums and executed by all parties. Escrow letter and a copy of cancelled escrow check(s). Funds on deposit exceeding $15,000.00 will require sourcing.
0 votes
Ania Lenzhol…, , Miami, FL
Tue Apr 9, 2013

Yes, you can get a mortgage in the US. There are several lenders that do "foreign national loans". I'd be happy to provide you with more information. Feel free to contact me anytime.

Ania Lenzholzer
Coldwell Banker Residential Real Estate
0 votes
, ,
Mon Apr 8, 2013
Yes. You can get a mortgage. You'll probably have to go the unconventional way, also known as hard money or private money. I offer both. Private money is just that. It is money offered by individuals rather than by an institution. Private funds are not regulated by the federal government and can pretty much lend to anyone for any rate and charge any amount of fees they wish to charge. Private money allows you to choose your appraiser whereas hard money (named after "cold hard cash") must order the appraisal through a third party company.

Hard money lenders are restricted on the amount of fees they can charge. Because of this, the rate may be higher and the underwriting is a little tougher to get through.

You'll want to explore both options depending on what you plan on doing with the property after you buy it. Hard money is for temporary financing (up to 24 months max, whereas private money can be for 30 years. Both offer financing for commercial and residential, however, private money allows a person to buy the property and live in it, whereas, hard money can only be used for investment properties.

You'll also want to establish an LLC (Limited Liability Company). If you need help, I can refer you to someone. With the LLC, you'll need a Federal Tax ID Number or TIN. The TIN will be used to start your credit in this country. You'll need to open a checking account in the US as well if you haven't already.

You are welcome to visit my website listed below for more information.
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