We work with many Foreigners Financing and buying in Manhattan New York, other than educating our foreign buyers and investors about the Manhattan Real Estate market, we also help them connect to the right mortgage professional if they need financing. In today's market place, lending guidelines are changing in almost daily basis. As a foreigner thinking of purchasing Real Estate here in Manhattan, there are limited financing options available, the specific qualification guidelines that each foreigner buyers must fit into. Below are some of the guidelines, please note that we are NOT a bank, we are NOT mortgage bankers, these are the information provided by our preferred banker that specialized in foreigner financing in Manhattan New York as a general foreigner lending outline.
- Maximum Financing = 60% (slightly lower than what we discussed - the majority of lenders are @ 50%)
- Licensed attorney must be designated to act as your agent upon whom process may be served in the event of a default
- Account must be established from which monthly payments are auto-deducted
- Escrow account equal to 9 months of monthly principal, interest and carrying costs must be maintained for the life of the loan
- Passport must be presented for ID @ time of loan commitment
- Attorney can establish accounts on your behalf with power of attorney if necessary.
This Foreigner Financing in Manhattan New York information below is provided on 10/2010, guidelines may change by the time you read this, contact us at EileenHsuNYC(@)gmail.com or Morgan.ER(@)Gmail.com and we will forward you our banker's contact to receive most up to date foreigner lending information.
- Foreigner buying in Manhattan NYC Part 1: basic knowledge of Condo vs. Coop vs. Condo-op
- Foreigner buying in Manhattan NYC Part 2 - Steps to Purchasing an Apartment
- How to Buy a Manhattan New York Condo (Part I) as first time home buyer
- How to Buy a Manhattan New York Condo (Part II) as first time investor
- How to Buy a Manhattan New York Condo (Part III) as Parents Buying for Children
- Manhattan New York Different types of Buildings
- We sell 'AS IS' condition: No Inspection in Manhattan New York Real Estate
CALL US TODAY at (917)837-8869 or (646)644-6929 to discuss your specific Real Estate needs.
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