hello, im noob here. looking for a mentor, ready to help with deals in Crimea& Russia, if its in your zone of interest.
I heard that if u are non-resident at USA you will get mortgages at standard rates like in Russia ( starting from 12,5% in best scenario)
Who can help me figure out in this question please..
If you're asking if you can get conventional mortgages from the US on properties there, no. Absolutely no way.
If you're asking about hard money loans or funds from private sources here, well, I really doubt it, besides money laundering issues and restrictions on moving money and 99.99% of us not knowing what RE mortgage rules are there, you'd have as much luck financing Jupiter.
Considering the unrest there, I'd say impossible. :)
Bill, thank you for fast reply)
But let me clarify- i mean i want to buy properties in USA ( California as well) and use USA loans for this. is it possible for Oversea citizen from Russia?
With you not being here, I'd say it's the same answer as above, unless you have cash assets here assigned or it might be possible with hard money lenders working off the loan to value alone and don't care if the borrower has income or credit here. There is no way to verify borrower's issues where you are.
There may be other restrictions given the current circumstances, I'm not familiar with the economic constraints between the US and Russia.
You might do better partnering with someone here that has feet planted here. :)
@Vladimir Valter welcome to the site.
@Vladimir Valter Putting all the Crimea/Ukraine issues aside to keep things easy, it comes down to this:
As a foreign national with no presence in the US such as an immigration visa of some kind, or significant financial footprint (cash or property), no American bank or traditional lender will loan you money. Simply put, the bank has no way of verifying anything on your loan application, and should you default, they have no recourse other than seizing the property, which they don't want (it's a bank, not a real estate holding company).
Since banks aren't in the business of giving money away, and loaning money to someone you can't collect from is like giving money away, you are out of luck.
As said before though, there is the possibility of getting a loan from a private lender (an individual or syndicate that has ties here and in Russia), but I'd expect the terms to be onerous... low LTV, high interest rate, etc.
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