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Finance for non residents

Started by shamrock
almost 14 years ago
Posts: 89
Member since: Nov 2007
Discussion about
Can anyone advise who (if anyone) provides refinance to non residents foreign nationals for a loan taken out on a NYC condo apartment which is rented out as an investment apartment. Current loan is with BoA (having been originally a Countrywide loan) Current loan is about 64% LTV Does it make a difference if loan is below 417k?
Response by AceltisMortgage
over 13 years ago
Posts: 9
Member since: Apr 2012

What are your main objectives, lower payment (cash flow improvement)? Or are you looking to shorten your term etc.? There are some outlets for this type of loan however what you seek might be difficult. Depending on what the desired long term strategic outcomes are would influence how to potentially structure this file.

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Response by AceltisMortgage
over 13 years ago
Posts: 9
Member since: Apr 2012

Would need to know your long term strategy to make a better recommendation.

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Response by I93_las
about 13 years ago
Posts: 0
Member since: Jan 2012

I have the same Question as above. I purchased a Co-op apartment in West village in 2007, and have since moved away. I currently live in Europe. I bought the apartment for $600K in 2007, with initially a loan of 417K. Now the loan balance is around $385K, and the market value probably still $600k. The reason to refinance is simple, my rate i pay right now is too high. I would not mind keeping the same terms etc in general, but i just want to make the loan less expenive (I think the rate is 5,75%)

Thank you,
Anders

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