Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Mortgage Loans Now Available for Foreign Investors!

Posted by Mastura Zaini-Roberts on Sunday, September 4th, 2016 at 7:48pm.


Foreign National Mortgages for Las Vegas Real Estate

Foreign national mortgages for Las Vegas investment properties are back!

Finally there is once again a company which can finance mortgage loans for foreign nationals that want to buy investment real estate in Las Vegas. The minimum down payment is 50% of the appraised value with a minimum loan amount of $100k, so properties purchased must be $200k or greater to meet program guidelines.  The main program requirements are as follows:

LOAN APPLICATON

  1. All foreign properties owned by the borrower must be listed on the Schedule of Real Estate Owned. Verification of mortgage payments, taxes and insurance is required
  2. A three year history of residence and job history is required. 

CREDIT REPORT

  1. A US credit report is required if borrower already has a TIN or SS#
  2. An international credit report is required if no US credit report is available
  3. TIN or SS# is mandatory before funding, Visa or Passport allowing entry into the US is required for each borrower 

ASSETS

  1. Most recent 2 months personal asset statements, with all pages included must be supplied. No screen shots.
  2. Foreign asset accounts must be approved by underwriting for down payment and reserves. It is preferred that funds be transferred to a US bank account. Any money transfer from a foreign account must be sourced.
  3. All foreign assets must be converted to US dollars on the application.
  4. Deposits must be sourced properly. If not able to source, then deposit(s) will not be counted.
  5. Business assets and Gift Funds may be allowed on a case by case basis
  6. If a borrower is married, and if full value of joint asset accounts is needed to qualify, then the spouse must be added to the application. Otherwise only 50% of the asset balances can be used for joint accounts.
  7. Foreign REO: 12 months PITI in reserves is required for each property 

INCOME

  1. Wage Earner: Most recent pay stub showing YTD income is required and most recent year’s W2 equivalent
  2. Self Employed: Prior 2 years personal and business tax returns plus a current Year to Date Profit and Loss Statement. CPA summary translation to English and US Dollar equivalents are required.
  3. Written Verification of Employment must be translated to English  
  4. Foreign REO rental income may be considered, at 75% of gross rental, with 6 months canceled checks and a current lease agreement. 
If you are a foreign national investor wanting to buy property in Las Vegas that would like to obtain financing, please contact us at sold@greatlasvegashomes.com or call 702-985-7654. We also have sources for private hard money mortgage loans in Las Vegas.

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Client Success Story -- Lea Patrick

The very first appointment I had was with an extremely difficult client who was convinced his condo was just going to continue to be a money pit for him and his family. He admitted that most of the time he hung up on or cussed out every agent that called him because he truly didn't think anyone was actually out to help...

8 Things Home Sellers Should Never Reveal (Except To Their Realtor)

When homeowners decide to sell, they may find themselves justifying their choice to anyone who’ll listen. But, as the old saying goes, “Loose lips sink ships.” In today’s world where sharing is the norm, sometimes keeping your rationale for making a move all to yourself is the right move....

Las Vegas Shadow Inventory - Foreclosure Fact or Fiction?

"Where have all the homes gone?!" In the Las Vegas real estate market it's like the clock has suddenly been turned back to the year 2004. Within hours there are multiple offers on everything listed under $250k, often sight unseen, and most accepted contracts are going above list price. New home builders are warning re...

Las Vegas Among Top 8 Cities for People Who Hate to Pay Taxes!

April 15th is almost upon us, and if you are like most people, you are sitting hunched over your desk trying to find just one more deduction to claim before dropping your tax return in the mail. So if tax time has got you down, maybe you should consider moving and buying a home in Las Vegas. The following are excerpts...

Las Vegas home sales higher in August

The Greater Las Vegas Association of Realtors (GLVAR) reported on Thursday that Southern Nevada home sales increased in August despite the local housing supply continued to remain tight, making for a strong "sellers market" with multiple offers on the same property, a common scenario frequently frustrating bu...

4 Responses to "Mortgage Loans Now Available for Foreign Investors!"

Sean Ryan wrote: Is there any word on what the intrest rate will be for Canadians
Have A Great Day
Sean

Posted on Thursday, May 22nd, 2014 at 7:03am.

Diann Tonnesen wrote: Of course interest rates can change daily, but last night I was told that rates were running in the high fives.

Posted on Thursday, May 22nd, 2014 at 7:09am.

Francis Ma wrote: Which bank are we dealing with
How and where to apply this mortgage
What is the interest rate

Posted on Wednesday, May 28th, 2014 at 7:53pm.

Sean Ryan wrote: I think this is a great way for foreign investors to buy homes in the US
And with 50% down it will weed out the tire kickers,And give the lender the peace of mind that they have the collateral.
Sean

Posted on Thursday, May 29th, 2014 at 2:36pm.

Leave a Comment

Have a Question?

Contact Us

Follow Us