HOW FOREIGNERS CAN BUY
REAL ESTATE IN THE US

Last week we had a Zoom call with Ryan Carroll from Lendz Financial. As a typical wholesale mortgage lender, they have a variety of loan programs. One of them is Loans for the Foreigners, i.e. those who live abroad and want to buy real estate property in the United States.

There is a number of lenders who offer such programs. The down payment can be as little as 10%, but it becomes more difficult to qualify, since the income is calculated based on the rent a property generates. It becomes a numbers game. Since there is no need for the credit report, no FICO score is needed, nor proof of personal income, nor social security number or local address as long as there is proof that the borrowers live abroad and have the money in their country, which can be transferred to the U.S.

Property can be located outside of California. However, It has to be an investment property. The rental income, which can be verified by the appraisal report, needs to be equal to the monthly mortgage payment, which depends on the interest rate, plus monthly taxes and insurance. These loans are relatively simple and require minimum documentation.

Please follow this link to view a piece of our conversation with Ryan Carroll posted onto my YouTube channel.

With any questions on the subject, please call me at (415) 225-7920. Or send me an email at [email protected].

I promise to help!

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602