Canadian looking for funding
Hello,
We are Canadians looking to invest in flips/a few STR in the Us, likely in Florida. We are running into some difficulties finding lenders as we don't yet have a US credit score. We are wondering if anyone out there can tell us how we can get started on building a us credit score.
Thanks!
Hey @Lorri McIntyre! I can't help with a US credit score but BiggerPockets may have some hard money lenders who can work with non-US citizens. Some may be able to assist with short term rental loans too. You can take a look at our Florida lenders here. If you need some more help getting connected with a lender, feel free schedule a time on my calendar here. I'd be happy to help.
please reach out to TD Bank... I send most of Canadian clients to TD bank - they lend to Canadian citizens using canadian credit. Some of the terms I ve seen are unmatched. If you need an introduction would be happy to provide, feel free to send me pm.
@Lorri McIntyre forgot to mention, if TD bank cant help you then you can consider Foreign National programs - these do not require credit at all. We work with quite few programs.
@Lorri McIntyre first off WELCOME TO FLORIDA! I love my state and it seems many investors (national and international) do as well! If your looking to get into the fix and flip space then I'd be happy to help. I lend out my own personal capital, so much few regulatory hurdles to jump through. And since I'm a portfolio lender I keep my loans on my own books, so I'm not trying to sell them on the secondary market. I do offer a "Foreign National" program, where they don't check your credit but the DP is going to be a min. of 30% for the acquisition. Happy to discuss if you would like. Best wishes and much success.
If you don't have a credit score you can still qualify for certain private money lenders with their foreign national program. I work with foreign nationals all the time!
Hi @Lorri McIntyre, RBC will utilize your credit and assets to purchase in FL. They won't offer fix and flip type funding, but I have a realtor partner who just closed on a home in south florida and their buyer used RBC. Good luck!
Hi @Lorri McIntyre, I agree with Chris. RBC has a few options for Canadians looking to purchase a second home or investment property in the USA. I am Canadian and have explored the RBC option, they can utilize your Canadian assets and credit. Also, theres Washington Federal that have a product for Canadian citizens looking to purchase. If you need any help, feel free to reach out! Good luck!
Hey @Lorri McIntyre,
Finance of America Commercial allows foreigners and their rates are generally very competitive. I just sent you a PM!