Home Loan For Overseas Investors.
We can arrange a loan for your home in New York if you are a foreign national. You don’t have to pay all cash.
You can get a loan from a US bank for your New York apartment and we can help you with that.
Foreign national loans for non-residents
Non-U.S. citizens without lawful residency in the U.S. are not eligible for Fannie Mae, Freddie Mac or FHA home loans, but can get financing from a private bank.
Private lenders offer mortgages to foreigners with higher interest rates and larger down payments – between 30 and 50 percent.
So that gives lenders a higher security if foreign borrowers default on their loans.
Credit Scoring for foreign Nationals
Lenders can order non-traditional credit reports for applicants with no credit score like utility payments and rental history, school tuition, child care, personal loans or 12-month history of a savings deposit.
Non-permanent resident aliens
If you’re a non-permanent resident alien and don’t have a green card, but you have a social security number, you can still finance your home. You have to have a work permit or special employer-sponsored visa. You should be able to live and work in the country for at least three years.
Non-residents and non-citizens
Immigrants who are neither citizens or residents, but who are refugees or were granted asylum can automatically obtain financing like a lawful resident alien.
Permanent Resident Aliens
Permanent and non-permanent resident aliens can obtain mortgages in America. They can even get Fannie Mae and Freddie Mac home loans.
The documentation requirements depend on the borrower’s status.
If you’re a permanent resident alien, you’ll need your green card and your social security number. Your mortgage application process will be very similar to that of US citizens.