Financing for foreigners buying in the USA

[William Wong]

What is the minimum down payment required if you are a non-US resident? I have been looking into US turnkey properties but am getting the impression that my only option is to rely on non-recourse lending. This would require a minimum of 25%- 30% down and the interest rate is often very high - minimum 8%.

I am a Canadian resident and was hoping to obtain conventional financing through a Canadian bank with operations in the US. Royal Bank of Canada has such an option. What I was thinking of doing was to put  a 10% down payment on a US turnkey property and finance the rest of it with a conventional mortgage.

Is such an option even possible? and what restrictions are there exactly for foreigners?

I feel the non-recourse lending route makes the cost of investing far too high.

[Ndy Onyido]

@Chad U. is correct. 

I am also a Canadian from Toronto and getting conventional financing is a mere wishful thinking in the US. The best I could get is 35% down and 7.25% amoritzed for 30 years...

And this lender will only lend for properties in Kansas City.....

Every other lender I met told me 40% and above but for less tenors.

You may go the TD way.....Looks like the closed option but the minimum is 100k

my one cent!