Mortgages For Foreign Nationals

hi,
Before i start i want to say this is a great site with lots of info.Well my problem is am a british national visiting the states and would like to buy a property in new www.york.I would be very grateful if someone can advice on the options available to www.me.I can come up with 10% downpayment.

Comments(4)

  • tinman175528th June, 2004

    A foreign National with a new social security card would be eligible for a 70% of the purchase price

    Lori
    [addsig]

  • active_re_investor28th June, 2004

    Some Brits are able to get better loans then 70% LTV in specific developments. This is mostly in FL where there are a lot of holiday lets (UK term for short term rental areas where you rent on a weekly basis). The lenders are specifically targeting the British buyers in FL. No comment on if such purchases make sense economically.

    Otherwise Lori's advice is 'spot on'. I know this is not what the Sunday Times classifieds imply but the reality is as she describes.

    You can get loans without a social security number with enough of a down payment.

    What many UK investors end up doing in many transactions is to borrow out equity in the UK and then make a large down payment in the US.

    I live 2/3 of my time in Britain and invest there as well as the US. Hence if there other questions I likely will know your options.

    John
    [addsig]

  • GAB186729th June, 2004

    Quote:
    On 2004-06-28 12:03, active_re_investor wrote:
    Some Brits are able to get better loans then 70% LTV in specific developments. This is mostly in FL where there are a lot of holiday lets (UK term for short term rental areas where you rent on a weekly basis). The lenders are specifically targeting the British buyers in FL. No comment on if such purchases make sense economically.

    Otherwise Lori's advice is 'spot on'. I know this is not what the Sunday Times classifieds imply but the reality is as she describes.

    You can get loans without a social security number with enough of a down payment.

    What many UK investors end up doing in many transactions is to borrow out equity in the UK and then make a large down payment in the US.

    I live 2/3 of my time in Britain and invest there as well as the US. Hence if there other questions I likely will know your options.

    John


    thanks for the www.advice.looking to buy a two family home in new york with 30% www.down.Not sure about Florida holiday lets.have you heard of sunshineinvest?its a mortgage company ready to do a deal with 30% down.www.sunshineinest.com

  • Randg17th June, 2005

    GAB,

    If your still around or are still interested in purchasing real estate here in the U.S we have something that you may be very interested in. Contact us @ : **Please See My Profile**

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