Advice needed for obtaining a loan

2 Replies

Can anyone help me out with loan advice? I'm looking to borrow 100-200K, on a fixed term interest rate with a maximum of 8% interest. I would like to repay the loan at 50K per annum and no penalty for early repayment. I'm looking to buy 2 more properties with a 20% down payment. I have over a million dollars in real estate in the US and can use any of the properties as collateral. Problems I have include, not having a SSN and no credit history. I have no debts and I've never borrowed money before. My apologies in advance if I seem naive on this subject. Does anyone have any recommendation for lenders?

If you own those properties free and clear  or with substantial equity (as in you only owe 40% of the value) then you might be able to work a deal. I know lenders that do Foreign National deals but honestly I don't know what their cash out policies are. Otherwise you might have to go a Joint Venture or Equity Partner route. See if you can find an experienced mortgage broker in Florida that understands hard money, private money etc.

@Nat Chan  What you are looking for is a banker that can do mortgage loans for foreign nationals. I can do those.

PM me if you would like to explore options.

Upen Patel
Mortgage Banker

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