Hello
I need some assistance regarding purchasing a private residential home in California.
I am a non US resident, I am from Australia and wish to purchase a investment home in California, so I'm not sure about the legalities of being a international buyer? I am not a company or a trust, just an individual and would execute the documents as an individual.
Also how would I be able to secure a home loan from a US bank?
I appreciate your advice and recommendations.
Thank You
Hi Mcp
There are no issues in you purchasing a property in the US as a non resident however funding it is a different matter.
Depending on the type of property you are going to be limited to 70% lvr and probably a minimum loan of between
$50K -$100K.
Rates are going to be similar to any other 2nd home purchase.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
70% LVR ! Which US lenders are lending to foreigners ?
Hi Marty
There are many US lenders who lend to non residents however depends on the State which the property is located / minimum loan amount / type of property etc etc etc.
The other issue is the amount of time spent on getting the deals over the line which is another reason we are not taking applications from Australian investors.
With our UK clients the requirements are less and the time / reward makes it worthwhile.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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