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Updated 9 months ago on . Most recent reply

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50
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JonPaul Kessinger
  • Property Manager
  • Bridgeport WV
17
Votes |
50
Posts

Lender who will lend to a Canadian investing in the USA

JonPaul Kessinger
  • Property Manager
  • Bridgeport WV
Posted

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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1,649
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Devin Peterson
  • Lender
561
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1,649
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Devin Peterson
  • Lender
Replied
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!

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