Has anyone been able to obtain finance with reasonable terms in the US since the Patriot Act was upgraded? Specifically in New York State? As a foreigner/alien we have not yet cracked this nut. Any advice would be appreciated.
JJ&Jo
Hi Jo,
Sorry I can’t be any help, but people have been trying to crack this old nut for a while now. All I can say is good luck [cap]
Regards,
OziJJ & Jo
The Act has not been upgraded just the interpretation by the lenders more rigorously applied.
Finance is readily available to Foreign Nationals depending on
1) Which State you are looking to purchase in.
2) The type of property you are looking to buy.We closed a dead for a client on Friday at 5.85% variable with $950 Bank loan costs. Depends i guess if you think that is reasonable.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hi Richard,
The deal you closed on Friday, was that for a property in NY State? If it is, that is more than reasonable.
Regards,
OziHey JJ &Jo,
I have been researching the same thing.I have spoken to Cameron Perry(do a search on this forum for more info,and here is his number 03 96621999),He seems like a really honest guy.
Regards
DematioWe’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Originally posted by Qlds007:We closed a dead for a client on Friday
Hmmmm – nice typo Richard[biggrin]
Writing these deals all of the time is not good for repeat business. I also suppose word of mouth advertising opportunities are limited with these deals. [bigeyes]
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958It is important to note,Don’t even think about getting finance until you have got a US bank account secure.
Changes to the patriot act in October have made this difficult
as we have recently found out.It is a requirement for almost all US lenders to have a bank acc before setting up loan.
Save yourself a headache in doing this.
Hey again JJ&JO
I would say too, once you get yr account happening in Us and one in Oz too(with the same company) apply for a US credit card .
This can help the bank or whichever lender to see you are able to pay back debt regularly.
I have just done all this (as my Us bank informed me too)as it opens up a lot more doors for loans down the track.(at better rates and less fees)
All the best DematioWe’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Derek
Too true. You only get one crack at those sorts of clients.
Ozi yes it was in NY State.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
