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As mentioned, Westan and I did have an opportunity to speak last week.
Just to clarify for other readers, 90% is available in the US.
No Doc (no employmet, income, assets) loans are available as well.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
PS…
IndyMac can do 10 loans if full doc or stated income. They will not allow for an investor to concentrate in 1 area.
No ratio loans are restricted to 1 per borrower.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
Yes, 90% is available for Austrailian investor’s here in the US. This same lender will also do a NoDoc loan (no employment/income/assets).
As of now the only state retrictions I know of for the lender is New Jersey and Pennsylvania.
I will send more information by email if provided as this could get a bit too long for the forum.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
There are several US based lenders that will do loans with NO INCOME or ASSET info.
So having a US bank account is a great idea for practial reasons, but in terms of qualifying there are banks that can approve a loan without them.
In addition, there are banks that can do this with no credit score and up to 90% financing.
Just remember though that as the lenders risk goes up so will the rate and costs. However, the terms are still very attractive and a well purchased property can still cash flow nicely.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
Actually brokers dont have any type of restrictions in naming the lenders we use for financing. You have banks such as Citi, Bank of America, Chase…etc that offer loan options to US clients and then possibly foreign nationals as addressed above. Then you also have wholesale lenders. These lenders do not deal directly with the public, only to brokers. The loans are sold off into the secondary market which are investors on Wall Street.
Those investors set the criteria needed in order for the lender to underwrite and approve loans. Foreign national loans would fall under portfolio (or Alt-A) loans. There are a several programs available which are channled through US lenders. My research shows that a handful will go to 75% and 1 has guidelines that allow 90% financing. Most of these products can be done without credit scores or income/asset documents.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
There are lenders in the US that can do 90% foreign national loans. No credit scores or documentation needed.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
There are several lenders in the US that will loan 75%ltv. Even a couple that will go to 90% by splitting up the transaction into a first and second combo.
Foreign national programs can be done with no credit score and no documentation.
Ben Carmona
Mortgage Planning Consultant
“Specializing In Investment Loans”
First National Mortgage Sources
314-914-6052 c
866-226-6309 f
[email protected]
http://www.BenCarmona.comLending Nationwide Throughout the US
