Commercial Lending, Foreign National mortgage lending

[Tony Georgiev]

Hello fellow BP members!

I am teaming up with an investor from London, England (European Union citizen, has visa for the USA) to buy multifamily property in South Florida (Dade, Broward, or Palm beach counties) with a commercial loan up to $800,000 to $1,000,000 purchase price. We can put 25-40% down, and will have another $100k for renovations.

Do you have experience working with foreign investors?

Will they get financing from a US based bank? (the London investor has two properties there - one worth $1M( has mortgage on), the other $500k (owned free and clear), can show over $150,000 annual salary).

Which banks in your experience lend to foreign nationals in the South Florida market? 

Would love and appreciate your input! 

[Upen Patel]

@Jonathan Twombly I do foreign national loans, use foreign assets and income all the time. It has to be verified by an approved local source, but it can certainly be used. If the docs are in a foreign language then they are translated by an approved source.

There are also DSCR and No-ratio options available to avoid all the hassle.

*** Moderator - Not advertising my services. Just providing input to clear up confusion. ***