Posted on: 24th May, 2009 12:52 am
I am a Foreign National looking to purchase a home in Las Vegas worth between 250 and 400k, income from country of origin, good credit there as well, can you give me some orientation towards a loan product that can serve my needs without it being outrageously expensive? Thank you!
There are several programs available for non-US residents. However, the terms and rates depend mostly on the available credit that can be developed. Meaning, a foreign credit report, or better yet, established US credit. Down payment is usually 20% or more, again, depending upon availability of credit. I have a few programs that quote "No Score. No Social. No Visa. No Work Permit. No Green Card...95% LTV (Full Doc. O/O)". Meaning, as long as we can verify your income, we are ok with only 5% down. I must warn, however, the interest rates on these programs are less-than attractive.
Are you not a green card holder? Are you planning to take the loan from the US creditors or from those where you belong?
If you are planning to take the loan from the US lenders then it will be a lot tougher as against going for your own country's lender.
If you have a good credit score in your country then surely you will get a preference and loan easily for the purchase of property at Las vegas.
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If you are planning to take the loan from the US lenders then it will be a lot tougher as against going for your own country's lender.
If you have a good credit score in your country then surely you will get a preference and loan easily for the purchase of property at Las vegas.
:arrow: :arrow:
keep in touch