Credit history for out of country investor

1 Reply

Hey everyone,

I'm currently searching for my first rental property which I plan to fund using full out of pocket cash.

Looking forward at future deals, I know that if I would want to apply for any loan, the minimum requirement is to have a check of my credit history. Being a US citizen living out of the country since the age of 7, I don't have a credit history. Like most normal people, I have a bank account, credit card and pay all my bills on time, only where I live (Israel) we just don't have such a thing as personal credit reports or credit history.

How can an out of country investor qualify for a loan without credit history in the US? Is it possible as a rental property owner to qualify for a loan or refinance the property based on the performance of the property?

@Gideon Spekterman

I was in the same situation as you a while ago and I found that there are some lenders out there whose niche business is to lend to people living out of the country. I remember getting in touch with my bank (HSBC) at the time and got me pre-approved for a loan in the US before I was a resident. Although I didn't end up using them.
The rates are obviously higher than what you would expect if you live in the US but you should be able to find some lenders with which you don't a credit history in the US. It depends on their underwriting rules.
Some can lend if you can show that you have a good credit in your home country, or assets or will put a large down payment. It depends

I am sure some of the people here on BP know some of them.

Good luck!

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