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Tagged : foreign national financing

Found 2 blog entries tagged as "foreign national financing".


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
14,697 Views, 4 Comments

During the recent mortgage melt down, banks had suspended all foreign national financing except for Canadians buying second homes in the United States. But as of last week, foreign national mortgage financing is once again available for citizens of other countries wanting to buy vacation homes in Las Vegas.

Most Las Vegas mortgage lenders, like Bank of America and Wells Fargo, don’t have these programs available, but there are now a few smaller “rising star” lenders that have foreign national funding for second homes. The basic guidelines of the programs are as follows:

  1. Can only be for a second home, no investment properties
  2. Buyer cannot own any other property in the United States
  3. 30% down payment
  4. An international credit report with acceptable
4,347 Views, 0 Comments

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