Is there home loan available for foreign investor (non-US citizen or resident) on rental property?

ngaiwaichung
Contributions:1

September 12 2011 - Las Vegas

Answers (4)

Ashley McCormick, "LasVegasRealEstate."
- 5.0/5.0
- (3 reviews)
Contributions:10

Canadian Loans:
a. Second Home Purchase Only –SFR– 65% LTV – Minimum loan amount $50,000
b. Canadian Credit Report with 680 minimum score (call to find out how much your Credit Bureau Company charges for Canadian—all of them charge differently—and Canadians only have a Beacon Score)
c. Full Income and Asset Documentation (converted to US Dollars)
Self Employed – 2 years taxes and current P & L and Balance Sheet
Salaried – 2 years T-4's (like our W-2) and 2 months paystubs
2 months of all Bank & Investment Statements The copies of bank statements must have the bank logo and client's name and account # (some online bank statements don't have this). If statements are quarterly, then we need 2 quarters.
d. Second Home Rate + .25% (today 5.375% up to $500,000)
e. 1% loan fee to Washington Federal
f. EZ Pay required (automatic deduct of mortgage payment from US Dollar bank account)
g. Copy of Passport and Drivers License. Loan application must be in name on the Passport.
h. No gifted funds.

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September 23 2011

Frank Becerra, "Las Vegas agent"
- 5.0/5.0
- (1 review)
Contributions:84

Just an Update, I spoke with the lender and they are now limited to Canadian buyers only.

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September 20 2011

Ashley McCormick, "LasVegasRealEstate."
- 5.0/5.0
- (3 reviews)
Contributions:10

Yes, you may have to come up with 35% down

See our investors page at

[website removed by Zillow moderator]
LasVegasRealEstate.org

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September 20 2011

Frank Becerra, "Las Vegas agent"
- 5.0/5.0
- (1 review)
Contributions:84

There is a foreign investor loan available, it's already a second home, I would imagine that it would work for rental if you contact me I can find out. I do know you cannot live in the country.