Issues financing first time rental in GA from abroad

[Adam Matteson]

I’m looking for advice on how to finance a rental property in GA. I’ve made an offer on a house for just over 56,000. Unfortunately the national bank I was preapproved with has a 50k loan limit, so I’ve been looking for other options. I’m getting rates like 5.8% and 6% on a 45k loan, even with paying several hundred or even thousand in discount points. Those seem steep to me. Are these rates high because the loan amount is low, or I’m a first time investor? Or do I need to just keep looking? Any recommendations for lenders who have dealt with US citizens living abroad? 

Another hurdle I’m coming to is getting approved. I live file a Foreign Earned Income Exclusion when doing taxes. I’ve had some lenders tell me that this in effect means I don’t have income, and can’t approve me because of this. Has anyone had experience with this?

All thoughts are welcome and thanks! :)

[Mitch Messer]

@Brenden Mitchum Thank you sincerely for the mention!

@Adam Matteson I just got off the phone with my "Million Dollar Money Guy" to describe your situation and see if he can help, and he can! I'll DM you shortly with his contact info.

For the record, I receive ZERO compensation for making this referral. He's just a terrific mortgage banker that I've worked with for years!