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As a foreign buyer how much down payment for purchasing a one bedroom condo in Manhattan?
As a foreign buyer how much down payment for purchasing a one bedroom condo in Manhattan?There is no one defining answer to this question, yet through our successful experience with helping foreign United States buyer's with their purchase of a Manhattan condo we have a certain idea of what is expected.As a foreigner purchasing a condominium in Manhattan obtaining a mortgage through a US bank will require a certain commitment both in providing the bank financial documents they require along with the down payment requirement to purchase the apartment.
On many websites with properties, you may see depending on your research that most condominium buildings only require a 10% down payment.  This may be true for the building's criteria, but it will be much more than 10% when it comes to the bank's criteria.  It is the banks criteria when they are providing the mortgage that ultimately matters.  The amount of down payment depends on a number of factors:
Loan Amount Type of Loan Borrower's Financial Profile The building you are interested in Until you have started the loan process, the bank will not be able to quote you their estimation for the down payment, but expect the down payment to be no ... more

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