I have a friend from Argentina who is looking to buy a condo here in south FL. I told them the first thing they need is a pre-approval letter so their offers can be taken seriously. Looking for a knowledgeable, experienced mortgage broker who can assist a foreigner get financing here. Spanish speaker a must. Thank you.
As a foreigner myself, banks are going to ask for tax returns and are going to want to see credit history, etc. If the person doesn't live and work and bank in the US, it is going to be very difficult for them.
Perhaps you could go into your own bank and ask about what some of the requirements / documents they will need to get an idea.
I don't think it will be as difficult as you describe. They're legit, able to put down 30% on a condo, and can provide full documentation.
I'm interested to know more about foreigners conventional financing for US real estate investment too. A few questions:
1. Is there minimum amount of loan value for foreigners?
2. What is the minimum down payment for foreigners?
3. What is the mortgage rate for foreigners? Will it be higher?
Thanks and sorry for hijacking your tread.
Martin,, only financing you will be able to get in your situation is semi private financing you will not get bank financing form an state or federal chartered institution most likely.
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