Where To Find Lenderss For Overseas Mortgage?

Am considering buying a home in Caribbean from a private owner, and wondering if anyone here has obtained a mortgage for an overseas property?



Details appreciated

Comments(5)

  • gainesvilleJ26th March, 2008

    I would think it depends heavily on which country you are purchasing in. Some of the smaller banks in smaller countries will not finance the purchase of a property in another country.
    I would call around banks in Trinidad. They are by far the richest nation of the carribean islands. They would most likely have a program for purchasing in other countries.

    Try ScotiaBank in Trinidad

  • LynLinz26th March, 2008

    Thank you,

    The property is in Anguilla
    Trinidad is at the bottom of the line of islands, about 500 miles from Anguilla.

    I wonder if they speak English

    I will try them if we decide to purchase

  • gainesvilleJ27th March, 2008

    They do speak English. I have a few investors from Trinidad that invest in RE in the states with me. Very good people.

    Because of the oil, it is actually the richest of the carribean islands. Probably a good place to start. It would be hard to convince a country with a struggling economy to finance the purchase of a property somewhere else.

    Good luck.

  • cjmazur27th March, 2008

    The bank of the 25K is spread out. Having the debt out standing the minimum period of time is optimal.

  • edmeyer27th March, 2008

    You are correct in that if a note pays off early it will increase IRR. You might take a look at one of my articles titled "What is the value of your note?" . It may help you a little.

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