20% down Foreign National Loan ?

[Boyd Hunter]

Hey BP members I'm looking to finance a property in CA looking for a foreign national loan but hoping to put down 20% deposit if possible. From what I see most lenders like 30% down... Thank you

[Boyd Hunter]

Originally posted by @Boyd Hunter:

Originally posted by @Account Closed:

Hi Boyd,

Are you asking about foreign national financing for residential purposes, such as a house or condo? Or are you asking about commercial financing for foreign nationals such as you might get with an apartment building? If commercial, I can't quite comment on 80% LTV, I am seeing 75% and 70% financing on apartment buildings.

On residential, you can get 80% in the following ways (and it is not an easy trek)

1) Have a work visa and you can get up to 95%-97% LTV, in some cases.

2) Dont have a work visa, then try for up to 90% financing. This does involve pledging liquid assets in an FDIC insured bank, and then10% down payment from the borrower.

PM me and I may be able to recommend a licensed loan officer in California to help you, on residential transactions

If Commercial, I refer you back to Mark.

 Hey Judy / Mark

Sorry the terminology is co different when you talk finance between Australia and USA...

This is a manufactured home on 2.5 acres which we will live in. My wife is a US citizen living in Australia. I am an Australian citizen but have lodged my I-130 visa (green card) to migrate to USA with my wife and kids.

Hope that helps.

Thank you