I am a Canadian investor looking for financing. I have so far been paying all cash but am interested in financing.

Asked by Sunil Khaneja, Sacramento, CA Wed Oct 30, 2013

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Robert Spinosa’s answer
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Thu Oct 31, 2013

Be aware that some of the scenarios with which you'll be presented would actually require you NOT to rent the home out. They are intended to provide a secondary residence for a foreign national and not a vehicle by which a foreign investor can develop a portfolio of US real estate. As you do you research, make sure your lender permits the occupancy type of the home to be "rental" or "non-owner occupied."

Rob Spinosa
0 votes
Robin Owens, Agent, Temecula, CA
Wed Nov 6, 2013
I am not a lender but I have a couple of awesome lenders who may be great for you. I hope your are looking for an awesome REALTOR like me as well. My firm gets an average of 11.3% higher sales price for our clients in Southern California!
0 votes
Randall Yates, Other Pro, Dallas, TX
Wed Nov 6, 2013

I can help you find a lender to get you approved, I know several brokers that work with all types of situations, credit, self employment, jumbo loans without 20% down etc. Email me or visit our site I would love to refer you to a lender to help you out.
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Tue Nov 5, 2013
There are several local mortgage professionals who can help you. Please contact me for their info.

Kevin McLaughlin, Broker Owner
Berkshire West Realty
0 votes
Mario Pinedo,…, Agent, Cupertino, CA
Wed Oct 30, 2013

I would be happy to help!

Mario Pinedo, CCIM
Real Estate Broker & Lender
Keller Williams & CS Financial
BRE Broker 01118365
NMLS 1029116
Cell 415-269-6249
Twitter @mariopinedo
Web Reference:  http://www.HomeLoans.LA
0 votes
Elva Wormley, Mortgage Broker Or Lender, San Jose, CA
Wed Oct 30, 2013
Hi Sunil,

I work with several lenders who offer foreign investor loans.

Please feel free to give me a call or email, if you would like to discuss your options.

Best regards,

Elva A. Wormley
Mortgage Consultant
(408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / DRE #01274093
0 votes
Valli Lopez, Agent, San Diego, CA
Wed Oct 30, 2013
Hello! I specialize in foreign loans. I have done 6 this year for investment properties, cash out investment properties, more than 5 financed properties etc.

I can do all sorts of Visa's even non residency loans. These are portfolio loans so the lending rules are much more lenient than a regular lender would allow. I do not charge any points and closing costs are minimal and accurately disclosed upfront.

I actually was able to close this one when no one else could. He tried with a few other people before actually closing with me and he is refinancing with me again next month. See : http://www.trulia.com/voices/Financing/Need_a_conventional_l…

I can close and have closed many of these loans and would consider it my specialty. Call me on my cell and I will answer: 619-916-9595. My office line is 619-434-0010. I also could provide you with a list of previous foreign residency clients who have had success working with me.

Looking forward to your call,

Valli Lopez
NMLS 980530
619-916-9595 cell
619-434-0010 off
0 votes
Flag Wed Apr 9, 2014
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Wed Oct 30, 2013

Obtaining a loan for a Foreign National or a Non-Permanent Resident Alien (NPRA) is not much different than doing a loan for a US Citizen or for a Permanent Resident. We require credible documentation for 2 yrs. + year-to-date Income, credit report or alternative credit to demonstrate ‘A’ quality credit worthiness, and seasoned funds in a known financial institution (does not have to be seasoned in a US bank account). Translation of documents may be necessary if the originals are not in English.

Foreign Nationals:
You have no Green Card and no VISA.
No Credit required…but four credit references required – alternate credit from country of origin is okay…international credit reports are also acceptable. (We usually Google your Country of Origin to determine if they have credit reports & tax filing).
Max 50% Loan-to-value.
Minimum loan amount of $300,000.

We require 2-years income verification history but it is not necessary to have U.S. tax returns…Tax documents from country of origin are okay. If your country of origin does not require to file the equivalent of tax returns, then we need an employment letter on your company's letter head explaining compensation. If the employment letter is in a language other than English we need to get a statement from a tax preparer or equivalent that can provide evidence of your credentials by translating the documents…it must be on letterhead so that we can verify the company through 3rd party sources.

We must be able to source seasoned assets in a known verifiable worldwide financial institution (i.e., Credit Suisse, HSBC, UBS, Bank of Tokyo)…the funds may not be in an Institution which cannot be verified. The main reason for sourcing the income and assets is for OFAC (Office of Foreign Assets Control) which monitors foreign countries, regimes, known terrorists, etc.

Tax Preparer or Equivalent – Financial Analysis:
If the income and asset documentation is in a foreign language, we might have to hire an Accountant/CPA (tax preparer or equivalent) to analyze, interpret, convert and present the information in such a way so our Underwriter can easily understand. That is, have a comprehensive summary and accounting of your financial position. (Tip: All U.S. Embassies provide translation services).

You must have a Social Security Number or Tax Identification Number (TIN) which can be easily acquired through an Accountant/CPA or visit the IRS website that explains what and how to get a TIN. As long as you have applied for the TIN, we can proceed….
Passport and second form of ID required.
Power of Attorney (POA) is not allowed. You, if not present in the US, will have to go to an American Consulate to sign and have loan documents notarized.
Verification of existing Mortgage/Rent is required for previous 12 months.
Reserves of 12-months full debt service required (including all payments, cars, etc.).

Feel free to call me.

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
NMLS 304353 - BRE 01380701
0 votes
Alexander Gr…, Agent, San Jose, CA
Wed Oct 30, 2013
I can certainly help you out.

Alex Greer
Loan Officer
NMLS #1056079

0 votes
Prentiss Holt, , Nashville, TN
Wed Oct 30, 2013
Hello Sunil!

I work together with a national brand, iServe, who would be glad to help! iServe offers the highest amount of certified loan agents in the US, with a large list of special options available to investors.

I'd be very interested in hearing more from you about you investing ideas, and seeing what we can work out! Shoot me an email at: theholtrealestategroup@gmail.com
0 votes
Jaime Becker, Agent, Sacramento, CA
Wed Oct 30, 2013
Hello Sunil

I have a great contact for you. Her name is Jennifer Remedios. She is great at her job, very knowledgeable and will be able to help. Good luck!

Jennifer Remedios, Mortgage Loan Originator
VITEK Mortgage Group
2580 Fair Oaks Blvd #20 | Sacramento CA 95825
b 916.486.6954 | c 916.616.9382 | eFax 916.484.0739
0 votes
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