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Local Voices

Foreign Nationals

 

 

The eyes of the international real estate buyers have been focusing on the US because the dollar is weak and the real estate is cheap.  Many of them buy in cash if they can because it is a much easier process.  However some of them prefer to keep their cash in their pocket and finance part of that purchase.  Foreign Nationals those who do not have a green card here in the US can still purchase and finance real estate here in the US.

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This is a multi billion dollar market.  Investors from other countries are coming here to buy.  Here at North East Financial in Middletown CT we can lend up to $650,000 per property with a down payment of 35%.  We are able to lend to our clients at a fixed rate anywhere from 10 - 30 years or an adjustable rate as a 5/1, 7/1, or 10/1 ARM with no pre-payment penalties.  We can lend on single family homes, condos, townhouses, and second homes as well. 

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The process is much the same as it is for anyone else.  We first pull their international credit report and verify income.  Then we can let them know how much they can afford to buy.  Once they have identified a property and put it under contract we gather documentation and bring the loan to our underwriter.  If you have questions about this product - Call Michael Shea or North East Financial 860-788-7237




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