hi, I'm a non-US resident and I want to buy, as investment, an apt in Manhattan. Can I use financing for part of the payment? thanks Gustavo

Asked by Gustavo, SoHo, New York, NY Fri Feb 17, 2012

Non-US financing

Help the community by answering this question:

+ web reference
Web reference:

Answers

17
Jennifer Chiongbian- 917-250-2284’s answer
Jennifer Chi…, Agent, New York, NY
Fri Feb 17, 2012
Hello Gustavo,

You can watch this viedo about purchasing in Manhattan as a foreigner. It explains financing issues, type of property which will fits your needs and other apsects of purchasing that you will need to know as a forieng investor.

http://www.buyandsellmanhattan.com/videos/

Jennifer Chiongbian
SVP/ Associate Broker
Rutenberg Realty NYC
9172502284
1 vote
Jenet Levy, Agent, New York, NY
Fri Feb 17, 2012
Hi, Gustavo.
As a non-US resident, it is very difficult, if not impossible to get financing. You will have to put down significantly more than a US resident due to lack of credit history here. Most of my foreign buyers who were not cash buyers have gotten the loan in their own country and then paid cash here. An international bank such as HSBC is your best bet.
The most important thing is to make sure you use a skilled, experienced buyer's agent and particularly one who has dealt with foreign buyers. We can streamline your search, negotiate on your behalf, and take you through each step of the buying process.

Best,
Jenet Levy
Halstead Property
SoHo Office
212 381-4268
jlevy@halstead.com
1 vote
John Peitler, Agent, NY,
Thu Apr 11, 2013
Please contact me at divercomm2@aol.com. My name is John. Thank you and good luck.
0 votes
Wagner E Oli…, , New York, NY
Sun Apr 1, 2012
Gustavo,

Claro que vc pode.
Vc precisa se qualificar com um lender primeiro.
Para mais esclarecementos me liga.
646-619-3720
0 votes
Oi Wagner,
Obrigado pela resposta. Pelo que verifiquei, o ideal é eu fazer um down payment maoir, correto, para facilitar o financimento. Agora estou mais interessado em Miami, pois os preços na faixa de US$400 mil, tem mais opcoes.
abs
Gustavo
Flag Sun Apr 7, 2013
Irina Karan, Agent, Aventura, FL
Sun Apr 1, 2012
Hello Gustavo,

With a large downpayment you can buy a property in the US.
Each lender has different guidelines (rules for lending), so it would benefit to speak to several different lenders (large banks, mortgage companies, local banks).

Make sure to look into FIRPTA Act of 1980 before you buy.
http://www.irs.gov/businesses/small/international/article/0,…
Most foreign buyers open an LLC before they buy, which saves you money in the long run (when you sell).

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
305-904-2355
IrinaKaran@gmail.com
0 votes
Elena Ravich,…, Agent, New York, NY
Fri Feb 24, 2012
I work with several banks that provide financing for foreigners. I would be happy to provide more details and find a suitable investment property for you. Not every property works for foreign buyers but there are some great opportunities, as well. Please contact me for further information. Elena 646 593 7207 elena@rakitarealty.com
0 votes
Alain Picard, Agent, Puyallup, WA
Sat Feb 18, 2012
Yes you should be able to use financing. It will just depend on the lender you choose.
0 votes
Wagner E Oli…, , New York, NY
Sat Feb 18, 2012
It is possible. It will depend on the property, time, and security that you might have. I have my office in Midtown Manhattan and will be happy to assist you. Please call me 646-465-1155.
WOliveira@aclawrence.com~ http://WWW.ACLAWRENCE.COM/1143

(Gustavo se voce e brazileiro, me da uma ligadinha e vamos ve se eu posso de ajudar)
0 votes
Elaine Schwe…, Agent, NY,
Fri Feb 17, 2012
it is very challenging but not impossible. It also depends on the asset you are purchasing as well as the details of your personal situation. i have been practicing residential real estate for over 30 years. I am currently at TOWN and know immediately of several good sources for hard to get loans. Please feel free to call or write.
Elaine Schweninger eschweninger@townrealestate.com. 917 686 6906.
0 votes
David & Maria…, Agent, Littleton, CO
Fri Feb 17, 2012
There is no such a thing as an "impossible". Everything has its price. If you want to get financing as a non US Resident, dont go to conventional lenders, BANKS. There are other sources of financing like investors willing to invest using the property as collateral. The only problem will be that the interest rate will be much higher than the regular first home buyer rate. You can search for short term loans, hard money loans etc..
0 votes
Adam Sanchez, Agent, NY,
Fri Feb 17, 2012
Gustavo,

Hello my name is Adam Sanchez and I work a BOND New York. The answer to your question is yes you can finance as a non-Us resident. I can help you with that. I have access to all properties in New York. Give me a call any time 347-283-4675.

Kind Regards,
Adam
0 votes
Neil Tilbury, Agent, ny, NY
Fri Feb 17, 2012
Yes, you can use financing for part of the payment and I can refer you to reliable lenders here. As a senior broker with Halstead Property and a member of The Real Estate Board Of New York (REBNY), I work with all buildings in the city at the various available price points.

As a buyer there is no charge to you for my services and I can save you considerable time and money. Please tell me more about what you are looking for so that I can get back to you promptly with suitable options. Feel free to call me anytime at 917-312-4953 or send an email.

I look forward to being of service.

Neil Tilbury
Senior Vice President
Associate Broker
Halstead Property LLC
& Halstead Property Development Marketing LLC
831 Broadway, New York, NY 10003
Tel: 212-381-6508
Fax: 646-775-6508
Email: NTilbury@halstead.com
Website: http://neiltilbury.halsteadproperty.com/
Facebook: http://www.facebook.com/NeilTilbury.nycrealestate
0 votes
Shaun Anders, Agent, New York, NY
Fri Feb 17, 2012
Hi Gustavo,

There are a few factors involved. It is very rare for a bank to lend to a foriegner, but some smaller banks will do it or possibly a larger bank from their own private portfolio. The building also has to allow you as a foriegner to purchase in their building, unless it is a Condo, which does not have restrictions against this scenario. Please feel free to contact me with any further questions, I would be happy to put you in touch with a number of truster mortgage brokers/private bankers who would be able to assist you with your financing.

Best,
Shaun Anders
0 votes
Connie Guo, Agent, New York, NY
Fri Feb 17, 2012
Yes, you can get mortgage up to 70%. I work with a lot of international buyers and know the banks which loan to foreigners. Pls contact me at 917-652-6638.
0 votes
Zita Lo, Agent, New York, NY
Fri Feb 17, 2012
Yes you can. It happens all the time. I am working with one right now. Work and seek advice from a seasoned real estate broker so you can properly be guided. Email me at zlo@elliman.com your contact info if you want me to help you further.

Zita Alvarez Lo
Licensed Associate Real Estate Broker
Bus 212-350-2825
Cell 917-656-8112
zlo@elliman.com

PRUDENTIAL DOUGLAS ELLIMAN
205 East 42nd Street, 6th floor
New York, NY 10017
0 votes
Zachi Isaac…, Agent, NY,
Fri Feb 17, 2012
Yes, 50% finance.
Contact me at 917-293-3333 or bsa@metropolitanpropertygroup.com
0 votes
Teddy Montee, Agent, NY,
Fri Feb 17, 2012
Depends on if you have a resident card or not?
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more