Hi everyone, my first post on this forum. I'm hoping that someone here can offer some advice on a rather uncommon situation.

I'm an Aussie passport holder with a non-immigrant b1/b2 US visa, so in simple terms I'm a foreign visitor in the USA. Over the past 3 years I have been spending about 6 months a year in the USA; enough time to make me a US tax resident because I meet the "substantial presence test".  I file yearly tax returns with the IRS.

In the USA I own a house (which stays empty when I'm not in the USA) and three duplexes that I rent, all of which are located in AR. The house is worth close to $200K and the three duplexes together are worth around $400K. I have no debt, I purchased these properties with cash.

I plan to stop spending as much time as I have been in the USA so I'm need to decide what to do with the house; it's either sell it or rent it. I want to buy a house in Europe to live in but don't have enough cash for that, so ideally, I would like a Home Equity Loan or a Home Equity Line of Credit on my USA house or duplexes so I can buy a house in Europe, then start renting my USA house to pay off the credit.

Problem is of course I'm not a US resident for immigration purposes, no SSN, and have no credit history in the USA...although I have a US bank account and debit card and I pay utility bills, etc. so maybe I do have some credit history?  I have done some research on this matter found that "Foreign National Mortgages" do exist for foreign visitors wanting to buy property in the USA.  Smaller lenders mainly offer these but some better known banks such also do; but again I don't want a mortgage as I already own the house, I want Home Equity Loan or a Home Equity Line of Credit.

Any suggestions?  Are there other alternatives I should look at like crowdfunding? 

If worst comes to worst and I cannot receive credit I'll just sell the USA house, and because I've owned it and lived in it while in the USA for over two years I will not pay CGT.

You can do a cash out refi on this no problem. Check with some local banks and they might do a HELOC

Originally posted by @Tim Johnson :

You can do a cash out refi on this no problem. Check with some local banks and they might do a HELOC

I don't have an existing mortgage to do a cash-out refinance.

@Kostyas Constantine

I work with a lender that works with foreign buyers in the US. Usually they lend at 65%-70% LTV. PM me and I will send you their information.

@Kostyas Constantine   Thats great, it will allow you to get full cash out then.  You don't need an existing mortgage to get cash out

Hi Kostyas, 

I am in a similar situation as you but have avoided the substantial presence test so far.

May I ask how your foreign income is treated in the US? Do you find you're being double taxed?

Originally posted by @Jordan Sinclair :

Hi Kostyas, 

I am in a similar situation as you but have avoided the substantial presence test so far.

May I ask how your foreign income is treated in the US? Do you find you're being double taxed?

Sent you a pm. 

Check with Signature Federal Credit Union. I found they have the best HELOCs 1.9% intro rate for 9months and can do up to 100% LTV. This is unheard of in this day and age. If you have the properties paid off, then you are golden.

Originally posted by @Eric Traboulay :

Check with Signature Federal Credit Union. I found they have the best HELOCs 1.9% intro rate for 9months and can do up to 100% LTV. This is unheard of in this day and age. If you have the properties paid off, then you are golden.

Okay but are you sure they work with non-resident foreigners?