How can a non-US citizen get a home loan?
February 7, 2007 | Mortgage | 
3 comments
As home prices level off, investors are getting ready to take advantage of the opportunities that lie ahead. Are non-US citizens allowed to obtain mortgages?
Yes! The lending community allows non-US citizens to apply for home loans as long as they obtain a tax-payer ID number and have an established credit profile. Loan to value ratios are typically reduced for the increased risk involved. Only select lenders provide this option. If you are a foreign investor and wish to purchase US Real Estate, let your broker know that you are applying as a “Foreign National”.
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HAve you a suggestion which banks are receptive to this type of loan? The brokers there in the States I have been dealing with are, well they cannot find a bank that will lend to a non-resident.
The first property I will purchase cash, though intend to obtain a loan to fix the place up, Then I will be looking to finance the next property.
I have a company which I formed there in the states to create an entity to conduct business there.
Who should I look towards for assistance?