good week! Questions about financing 1. Is the fact that a foreign resident has an asset that he bought in capital ...

good week!
Questions about funding
1. Does the fact that a foreign resident has an asset that he bought in equity increase his chances of receiving financing (by means of a lien) over someone who does not own an asset and intends to buy an asset by financing?
2. If so, I understand that it is better that the property be expensive and not cheap, how expensive it should be? Should they be rented for a certain period or are there no connection?
3. What needs to happen so that a foreign resident can mortgage the property under good conditions (70%, 5-6% interest)?

Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum)

The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion

• Thank you dear to the question. Forum experts will be happy to help you! Fun you're here with us!
• 1. Doesn't raise the odds but increases your chances of maximizing a good loan because you are not pressed for time and therefore you will not settle on conditions just to close and on the other hand you know what you have in hand right now and therefore your loan is much more "smart" because you are actually controlling the data
  2. Depending on what type of property you are talking about… There are countless lenders for countless products, each loan embodies within it the risks it is willing to take on
  3. If the product is a single for rent from what I know (and correct me here if I'm wrong because singles is not my area of ​​expertise) Nonresidential non-economic loans on a single property since they are on the 8%

  Successfully!

• There are countries you can get..depends on the broker…
  At the same time, you will be looking for a mortgage in 6.5% that will still be profitable for you in the operation of the house .. And more important is for what the money is intended for
• When it comes to singles you need someone to show you in front of the bank and it turns everything into personal connections and what that personal connection knows how to produce.

  I know how to bring in my investors with my partner singles at 100,000 $ +
  And after a year of renting get 50-70%
  Subject to bank decision
  At 4-5% interest

  If you want to do this on your own you must have a field person sign it, or have another contact with Lender who is not a bank name this minimum 100k loan and interest rate of 8-10%
  And the market value of the home should be at least 150k I think ..

  No event details until the end can connect you with the relevant people if you wish

• Ok thanks to the poor.
  This is a single I bought in Cleveland at 103k including refurbishment and valued as 140k. Currently renting only a few months
• Remember that you are not us person
  And make sure they know it and understand it
• Hello dear, usually as a foreign investor you can get a mortgage on a single property and provided that the loan is over $ 100000.
  ZA that assuming a mortgage on 70 percent of the property (the loan rate will range between 60-70%) there is a need for properties worth $ 150000 or more.
  Another alternative to mortgaging 2 homes together and then you can get a mortgage on properties each lower than 150 thousand.
  With regard to the interest rate, the interest rate that a foreign investor receives will range from 6 to 7 percent
• A canal like Shay Halevy recorded. I personally experimented with the Texas 6.5 percentage closed. Ask for a minimum loan or at least 150 loan for a lower amount. I got 2 percent of the property value
• Reinforces what is being said here.
  One of the parameters that lenders will consider is your experience. If you buy the first property, you have no experience, which is to your disadvantage. If this is the first property, but has been leased for several months, it helps. If you want better conditions, you'll need to show a yearly (preferably 2 +) tax returns, full-year earnings and loss reports, and long-term history (even if some of the previous owner) shows high occupancy rates.
  It is important not to get caught up in the all-too-common “do not go out sucker” approach - what others get on a specific deal cannot be a measure of what another investor might get in a different deal.
  If the numbers work, and you have not found another solution - take it… Another year or two your situation will be different, and there may be an opportunity to refinance the loan.
  It is very important to work with a lender you trust. Sometimes the money you save will not be on interest, but on mistakes you avoid, lower buying prices, and stronger bargaining power.