loan for foreigners

Asked by Lydia Ma, Lake Worth, FL Tue Jul 15, 2014

I have a client who is a foreign person that owns a few properties which she purchased 2-3 years ago by cash. They all being rented out and generate steady cash flow monthly. Now she would like to purchase more properties. Her question is, can she use her current properties as a collateral for a new home loan as a foreigner?
Thanks

Help the community by answering this question:

+ web reference
Web reference:

Answers

5
, ,
Fri Oct 9, 2015
Hello

You can get cash out/ refi on the properties you now own but for a foreign national loan that is only 50% LTV
You can also purchase a new property under our foreign national Programs
we can do up to 75% LTV on single family Homes and condo all over Florida
You do not need a US social security number or US credit but you must still qualify on the income
Pls call me fro all the guidelines

Tom Bawany
Mortgage Loan Officer
Envoy Mortgage
NMLS #519971
407 924 2759
tbawany@envoymortgage.com
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Tue Sep 9, 2014
You could always suggest a 1031 exchange as a way to expand her portfolio.
0 votes
Baldwin coll…, Both Buyer And Seller, New York, NY
Tue Sep 9, 2014
Yes she can
Simply contact us collins_baldwin@yahoo.com for more information thank you
0 votes
, ,
Sat Sep 6, 2014
Hello

It is very hard to refinance for foreign nationals . there are no good options and the rates are not so attractive. But the good news is that you can purchase and get great financing . It is for residential property, 2nd/vacation home, up to $417,000 No US credit required

Pls contact me for more details

Tom Bawany
407 924 2759
NMLS #519971
Prospect Mtg
0 votes
Joshua Perki…, Agent, Coral Springs, FL
Thu Jul 17, 2014
Although I am not a licensed mortgage loan officer I did work in that business for many years. The short answer is no-not through any traditional brokers or banks. She may be able to refinance one or a combination of them and use that to finance the new purchases. Collateral can only be liquid and property doesn't qualify. If you need a referral to reputable Mortgage Loan Officer please let me know.
0 votes
She do not has any mortgage on any property. All purchased by cash. If you think collateral is not qualify for that purpose, how about Line of Credit? They stand for the same thing in my opinion.
Flag Sun Jul 20, 2014
Search Advice
Search
Ask our community a question

Email me when…

Learn more