Posted on: 15th Aug, 2007 04:31 pm
Who offers mortgages to foreign investor on US investment property? Thanks.
Jcartman,
You need to contact a few lenders to know if they would be willing to lend to any foreign investor.
You need to contact a few lenders to know if they would be willing to lend to any foreign investor.
A foreign investor is considered to be high risk to lend to. Even if the mortgage that investor requires is quite less than value of the property, many lenders won't be willing to lend.
But there are few mortgage companies who are ready to grant mortgages to non-resident aliens who are in the country with acceptable work visa. Such a person should be established in the country for some time and his visa should not allow him diplomatic immunity. Foreign investors should expect to pay higher rate of interest because of the perceived risk lenders have to offer a mortgage to foreign investors.
I can suggest one thing; get in touch with the financial institution holding your stock in this country. It is possible that they will agree to give you a secured loan.
But there are few mortgage companies who are ready to grant mortgages to non-resident aliens who are in the country with acceptable work visa. Such a person should be established in the country for some time and his visa should not allow him diplomatic immunity. Foreign investors should expect to pay higher rate of interest because of the perceived risk lenders have to offer a mortgage to foreign investors.
I can suggest one thing; get in touch with the financial institution holding your stock in this country. It is possible that they will agree to give you a secured loan.
Freddie Mac has defined the guidelines that are to be followed when lending to permanent & non permanent resident aliens. Have a look - freddiemac.com/sell/factsheets/res_alien.htm
Hi Jcartman,
I guess you stay in a different country apart from US. In that case, you can check out with some overseas banks what they could offer you an overseas mortgage.
Otherwise if you can tell me the name of the country in which you are residing, then I may be able to help you in finding out some overseas mortgage lending institutions of your country.
I guess you stay in a different country apart from US. In that case, you can check out with some overseas banks what they could offer you an overseas mortgage.
Otherwise if you can tell me the name of the country in which you are residing, then I may be able to help you in finding out some overseas mortgage lending institutions of your country.
Check with Citi, Wachovia, Countrywide all had foreign nationals programs last i checked but be prepeared to prove lots of assets and bring a t least a 20% downpayment.
