All Forum Posts by: Colin McMahon

Hi Ayyoub, 

Are the bank accounts being used for the down payment held jointly or in individual names? If the accounts are shared, either one of you or both can contribute to the down payment. If the accounts are in individual names, then the person whose name is on the account will need to be on the loan.

Although you mentioned that both of you have the same credit score and history, consider who currently has more financial leverage or could benefit from additional credit activity. Sometimes, distributing loans between partners can optimize your credit utilization and impact less on individual credit scores.

Would be happy to provide additional guidance with more context - I'll send a DM!

Hi Ryan, 

A little late to the post but I can help here. I'm the Senior Loan Originator for direct lender Milo and we specialize in financing for investors. We do not have a max cap as long as you qualify and offer very competitive rates, but our minimum loan amount is $150,000. Sending you a DM so we can chat further!

Hi Marty - firstly congrats! I'm a directly lender and I've worked with many Canadian clients and have gotten them up to 75% LTV using either a DSCR or income-based loan program. My clients have not required SSN, U.S credit history (FICO) or income, and depending on the state the closing is remote. You will need a U.S. bank account, however, many of those can be set up remotely, and you can start the financing process without it.

Similar to other comments in this thread, you should expect to put down 25% - 30% downpayment I'll send you a DM and we can discuss more!

Hey Andrew, what's your timeline for purchase? 

I primarily work with Canadian investors looking to venture into the U.S. real estate market, and I'd be happy to provide more insight into the U.S. mortgage process - it's actually a lot simpler than you think. Sending you a DM!

Hey Kevin - we actually can finance up to 75% LTV for foreign nationals for a DSCR loan if the property meets the qualifying criteria but we typically lend at 70% LTV for purchase. If you have a specific property in mind, feel free to reach out and we can discuss further.

@Fernando Gigiiotti we can do c/o refinance for an international client with no ssn or income in the US up to a 65 LTV. Let me know if you'd like more details on this option.

Hey Beverly! - I'd recommend you look into a cash-out refinance for a situation like this. It will allow you to tap into the equity on your investment property and use that towards the pool installation. 

Feel free to message or email me so we can discuss further. Let's get your investment property ready for summer tenants.

Hi Usha! Not sure where you are in your investment process but we definitely work with foreign nationals and don't require a credit score or SSN, and we can qualify with or without income. Our DSCR rates range between 7s and 8s - feel free to reach out and let me know if I can still be of assistance.

I saw that you want to refinance to reinvest and I've handled many cash-out refi's for my international clients so I'd be happy to help. 

Hey Cody - I'd be happy to help. I work with many business owners/self-employed individuals and often help them bring down their DTI enough to qualify, however, I also specialize in DSCR loans so feel free to reach out so we can evaluate which route is best for your investment goals.

Hi Maria!

I'm a senior loan originator with Milo - we specialize in providing financing to foreign nationals interested in investing in the U.S. real estate market. For a purchase, the max LTV we offer is 75%, and the interest rates you can expect now range between the 7s - 8s.

Our online platform allows you to apply remotely, upload verification docs securely, and close quickly. Please PM me with your contact details so we can set up a call to chat about next steps. 

Hi Alicia! Congrats on a solid property find. I'm a loan originator with Milo and we specialize in DSCR loans for international clientele looking to invest in STRs in the U.S.

I'd love to chat more about your property and see how we can best assist you. 

Let me know the best way to contact you so I can reach out today.