ISO Lender for foreign national (FL purchase, Canadian Client).

Tampa, Florida
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ISO Lender for foreign national (FL purchase, Canadian Client).

Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes

In light of recent events apparently it is not easy to find a lender that will work with Canadian buyers at the moment. This will be for a STR so we would love a 10%v down second home loan but if that is asking too much than 20% will work fine. Can be conventional or DSCR. Client is a pro hockey player in Europe but does have Canadian Citizenship and a US tourist visa. Purchase price likely around the $600k mark. Thank you!

[email protected]813-563-0877
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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y

Is it possible that one of his rich team mates could fund this?

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  • Zach Edelman
    Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
    1y
    Quote from @Andrew Steffens:

    In light of recent events apparently it is not easy to find a lender that will work with Canadian buyers at the moment. This will be for a STR so we would love a 10%v down second home loan but if that is asking too much than 20% will work fine. Can be conventional or DSCR. Client is a pro hockey player in Europe but does have Canadian Citizenship and a US tourist visa. Purchase price likely around the $600k mark. Thank you!


     What type of specific VISA is it?

    0Reply
    • Andrew SteffensBusiness Member
      OP
      Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
      1y
      Quote from @Zach Edelman:
      Quote from @Andrew Steffens:

      In light of recent events apparently it is not easy to find a lender that will work with Canadian buyers at the moment. This will be for a STR so we would love a 10%v down second home loan but if that is asking too much than 20% will work fine. Can be conventional or DSCR. Client is a pro hockey player in Europe but does have Canadian Citizenship and a US tourist visa. Purchase price likely around the $600k mark. Thank you!


       What type of specific VISA is it?


       Asking now, previously he just said US visitor visa so I assume B2

      [email protected]813-563-0877
      Vacation Rentals of Florida53 Reviews
      WebsiteView Page
      0Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    Sending you good vibes to help pull this off!  Wishing you success.

    1Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1y

    Is it possible that one of his rich team mates could fund this?

    2Reply
  • Ko KashiwagiPro Member
    Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
    1y

    Hi Andrew,

    Does the client have a US FICO score? I've financed foreign nationals with no rate adjustments as some programs just look at FICO and don't require green cards. Every program is different in how they determine foreign nationals

    310-848-9776
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    • Andrew SteffensBusiness Member
      OP
      Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
      1y
      Quote from @Ko Kashiwagi:

      Hi Andrew,

      Does the client have a US FICO score? I've financed foreign nationals with no rate adjustments as some programs just look at FICO and don't require green cards. Every program is different in how they determine foreign nationals


       Thanks Ko - I saw your voicemail from yesterday and will reach out to you later today.

      [email protected]813-563-0877
      Vacation Rentals of Florida53 Reviews
      WebsiteView Page
      0Reply
  • Josh Ball
    Real Estate Agent · Louisiana · Member since 2017 · 214 posts · 146 votes
    1y

    I don't know who your client banks with but as a former Canadian who moved to USA, I always used TD Bank. They are one of Canadas largest banks & have moved into the US market. I know in Canada they offer mortgages, might be worth looking into from that side. They allowed me to open all new accounts, credit cards, etc with their US operations despite having no credit here in US when I moved. They were able to pull all my history with their Canada operations & grant an exception.

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    • Andrew SteffensBusiness Member
      OP
      Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
      1y
      Quote from @Josh Ball:

      I don't know who your client banks with but as a former Canadian who moved to USA, I always used TD Bank. They are one of Canadas largest banks & have moved into the US market. I know in Canada they offer mortgages, might be worth looking into from that side. They allowed me to open all new accounts, credit cards, etc with their US operations despite having no credit here in US when I moved. They were able to pull all my history with their Canada operations & grant an exception.


       I actually bank with TD! He is looking into their options as well as RBC and a few others.  Thanks!

      [email protected]813-563-0877
      Vacation Rentals of Florida53 Reviews
      WebsiteView Page
      0Reply
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