are the foreigners buying properties with a mortgage or cash ?

Question

i have seen plenty of stories and heard that the Chinese and Brazilians ,are buying properties in the US and paying cash. i am just curious to know ,if it is really true that they are paying cash ? Can they qualify for a loan if they don't live or work in the US ?

Lucky B. · Answer

good replies.

Mark Creason · Answer

I have worked with foreign investors. Depending on the property type, I am seeing that they typically they have to put up twice the net worth and twice the liquidity to qualify as an American investor. I only work on 1 million and up on loan amounts.

Mark

Jay Hinrichs · Answer

they do both.... there are niche lenders who will lend to foreigners.. and there are a few banks.

Well qualified foreigners that are say buying a second home in Florida have NO problem getting conventional financing.

I brokered a deal a few years ago in Oregon.. this was owner occ.. but the buyer was moving from Denmark.. and they got a convential loan NP

Sam Van Horebeek · Answer

@Lucky B. National Association of Realtors have been reporting that 69% of all purchases done by Chinese were done in cash (source: 2015 Profile of International Home Buying Activity). However, there are currently a significant number of challenges for Chinese citizens to transfer money out of China. This article should be of interest:

https://www.inman.com/2016/12/06/what-do-chinas-st...

Obviously, quite a number of Chinese already have an offshore bank account and they can still go ahead with purchasing houses in the US using cash. Over the last four weeks, we still have seen cash purchases in New York, San Francisco and Detroit.

are the foreigners buying properties with a mortgage or cash ?

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