Does anyone have experience with out of country cosigner?

Question

I have a prospective applicant who is interested in filling out application. So far they have seen pictures and recorded video of the place. Unit will be rented for their son who is going to university.

What are the challenges with out-of-country cosigners?

Vasudev Kirs · Answer

Thank you @Nathan Gesner!

Atul Mohlajee · Answer

I would not accept until and unless I see evidence of cosigner's financial status in their home country.  I might ask for a minimum six months rent in advance for a 1 year lease.

Nathan Gesner · Answer

I wouldn't touch it. If the individual defaults, how will you go after their cosigner when they live in another country?

The only way I would accept that applicant is if their cosigner paid the rent up front with a double deposit.

Vasudev Kirs · Answer

He is willing to pay six months in advance. University is a reputable university. He is also willing to furnish a letter from his US brokerage firm to prove he has ample funds to cover for rent and expenses.

What would you do? What sort of additional documents can I request?

Vasudev Kirs · Answer

thank you @Atul Mohlajee!

Vasudev Kirs · Answer

Thank you but I am referring to rental lease and not mortgage payment. I am a landlord who is trying to lease rental unit.

AJ Wong · Answer

Lenders can have limitations on those without a US SS # but others offer specific lending to 'foreign' nationals. Not positive about a co-signor, it's possible to purchase in foreign investors name with you/other on title and deed. Check in with @Joseph Chiofalo he works with many international investors. Good luck. Cheers.

Does anyone have experience with out of country cosigner?

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