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Updated 7 months ago on . Most recent reply
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Lender who will lend to a Canadian investing in the USA
I am an agent/PM who is working with a buyer from Canada. He is looking to purchase a 6-unit, 1-year-old building in West Virgina. He qualifies for the 1 million dollar purchase, and the property will meet any DSCR requirements. His only issue is that he is a Canadian citizen. Does anyone know of any banks that will work with him? I will be his local boots on the ground and my management company will do all the management (a bank turned him down because he doesn't have any investing or management experience in the USA, even though I will be the local manager).
Any leads on lenders or banks would be appreciated!
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Quote from @JonPaul Kessinger:
I am an agent/PM who is working with a buyer from Canada. He is looking to purchase a 6-unit, 1-year-old building in West Virgina. He qualifies for the 1 million dollar purchase, and the property will meet any DSCR requirements. His only issue is that he is a Canadian citizen. Does anyone know of any banks that will work with him? I will be his local boots on the ground and my management company will do all the management (a bank turned him down because he doesn't have any investing or management experience in the USA, even though I will be the local manager).
Any leads on lenders or banks would be appreciated!
JonPaul, there a bunch of Foreign National options for this client of yours. His ltv may be reduced to 70-65%. If he as US credit, he will have more options. If not there are alternative ways to qualify with no FICO. Happy to connect - good luck!
- Devin Peterson
- [email protected]
- 860-538-3672
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