if I do not have any income proof in the States but can afford to pay a 40% downpayment , can obtain a loan ?

Asked by Chaiwat, Irvine, CA Tue Mar 17, 2009

I want to buy a home for my wife and child to live here and study but I am still working overseas. Our credit scores are good though no usa income proof. Please advise if we can obtain hard money loan and what will be the terms ? We are all US citizen.

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11
Louwu, , Irvine, CA
Fri Mar 26, 2010
You DO NOT need to obtain a hard money loan. You are grossly misinformed.

I have a portfolio program here at Chinatrust Bank USA (direct depository lender in the USA) that will lend to you at rates in the low fives. Skip the 8-10's of hard money and contact me today. You can call or email me at 949-870-2882 or louwu@chinatrustusa.com

Cheers,


Lou
0 votes
Boris Aivazi…, , Glendale, CA
Tue Mar 23, 2010
Yes you can get a hard money loan when you have a 40% down payment, terms 3-5 yrs, interest rate 10-12%, interest only payments, we need to take a look at your property 1st. You need to refi. at some point asap since hard money is expansive.
0 votes
Crestico Rea…, , Los Angeles County, CA
Mon May 11, 2009
Dear Chaiwat,

There are many different financing options available to you. At Crestico Realty, we have a great working relationship with a direct lender in the Irvine area. I suggest you give them a call and ask for our dedicated representative who will be more than happy to discuss your options with you. Also, should you need an agent to help you find the home of your dream, we would love to help!

You may contact the lending representative at the following contact information:

Houtan Hormozian
American Guardian Home Loans
(949) 242 - 5215
hhormozian@amguardian.com

Feel free to visit our website to get more information on buying a home!

Good Luck!!!
Web Reference:  http://www.crestico.com
0 votes
Moshon Reuve…, , Toluca Lake, CA
Sat Apr 25, 2009
Also try different hard money websites by googling "irvine hard money lenders" try C-loan.com and http://www.lendinguniverse.com . Good luck!
0 votes
Crestico Rea…, , Los Angeles County, CA
Wed Mar 18, 2009
Dear Chaiwat,

You are in a unique position and yes, you will be able to secure financing! I suggest you contact my preferred lender of choice, American Guardian Home Loans. They are based in Orange County and are a Direct FHA Lender. Specifically, Mr. Houtan Hormozian will be able to answer all your questions and present different scenarios and explain all of the terms to you.

His contact information is:

American Guardian Home Loans
hhormozian@amguardian.com
Phone: 949-242-5215
Fax: 949-859-6364
27 Orchard
Lake Forest, California 92630

When you speak to him, make sure you tell him that you were referred by Crestico Realty and I personally guarantee top-notch customer service!

Good Luck!!

Mitra Karimi
Web Reference:  http://www.crestico.com
0 votes
Michael Barr…, Agent, Irvine, CA
Wed Mar 18, 2009
Hi there Chaiwat. I would talk to a lender/Bank here about setting up an acct to be seasoned. I would talk to a lender in the country you are in too. Do you plan to stay overseas or move to US eventually?
There are ways to do this , you just need to talk to the right people. If you need any assistance drop me a line

Kind Regards
Michael Barron
Realtor/MBA
First Team Real Estate
(714) 552-6817
0 votes
Keith Sorem, Agent, Glendale, CA
Wed Mar 18, 2009
C
I would check to see if you can obtain financing from your home country. There are clients that are able to obtain better interest rates and terms for purchases in the US. The other big factor would be the rate of exchange.

Good luck.
0 votes
Karen Parsons…, Agent, Laguna Beach, CA
Wed Mar 18, 2009
Hi again,

I pulled my file for my Belgium client this morning...he worked with the Royal Bank of Scotland. I would suggest you talk to them and see what they can offer you.

Karen
0 votes
Daniel Ville…, Agent, Los Angeles, CA
Wed Mar 18, 2009
Dear Chaiwat,

I have a home now that is a 4 bedroom 2 bath in Lake Balboa (next to Encino ) where the owner will carry the balance with 40% down. Please go to my website for pictures and call my cell: 1-800-981-7638 c
( http://www.danielhvillegas.com )
0 votes
Cynthia Flem…, Agent, Laguna Niguel, CA
Wed Mar 18, 2009
You might be able to get a hard money loan, do you want me to investigate options for you? You may also be able to do an AITD (all inclusive trust deed) commonly referred to as a wrap. I know of a couple of properties that are offering this type of financing right now. What is the price range that you are looking for? If you could provide me with a few details of what you're looking for, I can help you out. My email is: cfleming@coldwellbanker.com. Thanks.
0 votes
Karen Parsons…, Agent, Laguna Beach, CA
Tue Mar 17, 2009
Hi,

The short answer is "maybe" ..I have worked with couples before from overseas. There are banks that can help you and I do have a contact. If you are interested in a referral to a lender who deals with international buyers..shoot me an email and I'll give you a name to call

Karen
0 votes
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