Jumbo mortgages for non resident aliens

Hi Sohoman,

I believe Citibank and Wells Fargo have a program for a NON US Citizen. If you need any reccomendations, please give me a call.

Jonathan Peldman, Esq.
The Law Offices of Jonathan Peldman P.C.
2054 Ralph Avenue
Brooklyn, NY 11234
Tel: (718) 251-1200
Fax: (718) 233-2714
BankClosings@PeldmanLaw.com

Thanks. Wells wont do non US citizens and Citi max loan $2 million and maybe only because I bank with them. I went HSBC again.

Ellen Silverman
E.S. Funding Co.
Registered Mortgage Broker since 1990
Licensed Real Estate Broker since 1987
esfunding.instantlender.com

p.s. nmls# 60631

Sohoman,

Who at HSBC did you use to get the loan?

I have some options that don't need a relationship ie: transfer of funds to the lender

Adam Dahill
Mortgage Loan Originator
Mortgage Master Inc.
135 West 50th Street, 18th floor
New York, NY 10019
Office: 212-351-8020
Cell: 917-696-6010
adahill@mortgagemaster.com
NMLS ID: 66099

You don't have to be a citizen of the US in order to get mortgage. However, you definitely need social security and green card. If you want to invest in the US real estate while being a citizen of UK, it's better to pay cash.

Brookman.
It is HSBC Wealth and Barclays Wealth.

Actually called HSBC private.

I have some small banks that will lend to foreigners.

Ellen Silverman
E.S. Funding Co.
Licensed Mortgage Broker since 1990
Licensed Real Estate Broker since 1987
esfundingco@aol.com
www.esfunding.instantlender.com

hello soho man,

im in a similar situation and am looking to buy a small condo as an investment. could you please refer me to the agent you used to buy the condo .
do they also lease it for you ?

appreciate all the help !

Thanks

Maria Barley. Inaccurate. I have a social but no green card and have had a number of mortgages. I cannot assist further since I do have a visa, verifiable W-2s etc...

p.s. nmls# 60631

hi sohoman,\

im in a similar situation , can you recommend a good agency for buying and renting condoa for overseas investors .

Bank of Internet is actually strong in this space but I believe they are capped at 50% LTV

I was at an event last night and Wells Fargo had a presentation about foreign national lending. Two key phrases were used - 1) Qualifying Mortgage, and 2) Ability to Repay.

Essentially, they want 40% down, an investigation into work history (letter from employer, etc.), and a nice chunk of change in the bank. Self-employment makes things a bit more difficult though.

I followed up with Adam Dahill from Mortgage Master Inc and was able to get the cash out refinance loan for a property that was free of mortgage even though I am currently residing in Australia and not a US citizen. I contacted numerous banks and got thrown into the too hard basket because I was not residing in the US.
Adam and Stan were always responsive to my requests in the application process and their help and assistance in order to get the finance was above and beyond. I truly can't speak high enough of the level of service and professionalism.

@Maria, incorrect on both points.

Basically all they want is ability to pay and downpayment. Everything else is just hubris.

ttayab - I used Leo Piraino at Douglas Elliman. Did an efficient job. I'm sure others can do the same for you. He mainly does high end stuff so probably over $2 million. For smaller you might get better service elsewhere. LPIRAINO@elliman.com

Brookman - who did you refinance through? Seems strange you didn't offer that. Given you have only made 2 posts makes me wonder if you might be the agent. Haha.

Maria - yes incorrect on all points. I am a case in point and have 2 US mortgages.

I just checked in with Wells Fargo last week. They still can't lend to me due to the non resident alien and investment properties. Second homes might be easier for them.

If anyone comes across lenders on investment properties to non resident aliens please add them to this discussion..

AKSEL - I think there is a difference between a non resident alien such as myself and foreign national lending. The latter I presume includes a Frenchman living and working in New York who holds a green card. Two very different entities. The use if property may be very different as well. One could be an investment property for NRA and the second one for the Frenchman to live in.

We closed on Brookman's loan in February of this year.

-Stan

Sohoman - not an Agent and the story is 100% true, Adam Dahill from Mortgage Master Inc was able to obtain cash out finance when every bank appeared to have an issue with providing cash out finance on a mortgage free property seeing i am living in Australia. All i was after was approx 60% of LTV and Adam was able to get me more which was required for a settlement.

Brookman - WHO did you borrow the money from? What rate did you get for what tenure?

What LTV did you get and from which bank Brookman?

Brookman. Why don't you reveal who the lender is then if you are not the. Agent!!!! You seem keener to talk about he broker than the lender. Many on this board would be interested to know who the lender is, not just the broker. You seem keen to tell half the story.....makes me think you are Adam Dahill!

A Green Card holder is referred to as a resident alien. A foreign national may also reside and work here legally without residency status (on a visa).

>Are there any programs available for illegal aliens?

Probably, just need to show their Municipal ID card.

One of my colleagues notified me to the recent activity on this thread. To confirm I am not Brookman. I do post semi-regularly on brownstoner.com if anyone cares to check on the validity of my statement. I have been quoted in the NY Times and I can be found on the internet via google search. I don't post that often on SE but have in the past on a few occasions.

Mortgage Master acted as a direct lender on his transaction. We sold the loan to one of our investors (institutional banks) post closing. I was not a broker on the loan.

The program guidelines allowed for 60% LTV, I had gotten an exception on his loan for 61.31 LTV due to an appraisal coming in slightly lower than expected. The property was a condo owned free and clear in Dumbo. This was an all cash out without a required relationship. 420k loan amount. No credit score reported on the US credit report. 5/1 ARM and the rate at the time of closing was 5.25%

-Adam Dahill
Mortgage Master Inc
212-351-8020
adahill AT mortgagemaster.com
nmls 66099

Sohoman - Just confirming Adam statement above.

GuardHill Financial Corp. is a mortgage banker and brokerage company, catering to the specific needs ofmany different types of borrowers. We provide our clients with the most competitive mortgage programs inthe market with rates equal to or less than rates they would otherwise obtain independently.

GuardHill Financial Corp. is second to none in the foreign borrower lending market. We have fantasticprograms to help foreign nationals purchase or refinance homes here in the United States.

Here are some highlights:

• Fixed and adjustable rate mortgage loans for co-op’s, condo’s, and single family

• Up to 60% financing

• Can close in LLC, Trust, Sub S Corp or Corporation as long as it’s a US entity

• Must supply two years and year to date income from their country

• Clients must show International credit if you can get it, if not 4 vendor reference letters with a good 12 month pay history and in good standing.

• Must show assets in an internationally recognized financial institution

My several foreign buyers had good experience with HSBC Premier mortgage (which offered different programs with 30% to 40% down payment) and with East West Bank (only ARM & 40% down). Those loans are not easy to get but they do exist - they required a lot of my time and attention. I had to follow up with mortgage bankers, underwriters & processors on client's behalf almost daily, making sure they get everything they ask for on time and that the things are moving along. They purchased investment properties and I rented them out shortly after closing. Now these clients are looking for their next investment. Happy to refer you to my mortgage contacts and to assist, if you are looking for a diligent and persistent RE broker. Elena Ravich 646.593.7207

Anyone heard of any more institutions who have started jumbo lending to non resident aliens?

I have jumbos for non resident aliens

Ellen Silverman
E. S. Funding Co.
Licensed Mortgage Broker
NMLS# 60631
esfundingco@aol.com

Can anyone share any recent experience with Chase's jumbo loan program in NYC?

Citibank retail bank are able to lend to non resident aliens on loan amounts up to $2,000,000. Would like to find lenders who do larger loans than this. Barclays Wealth were also in this market, but I think have pulled out.

Anyone come across any Canadian (non canadian borrower), Swiss or Singaporean lenders to non resident aliens?