Arizona Mortgages for Canadians is here. The experts have options!
I am very transparent about our lending opportunities here in the US and more specifically Arizona itself. At Express Capital Mortgage, we have aligned ourselves with as many lenders as possible that WILL and DO lend to Foreign Nationals. To note, it is my companies primary lending focus right now as we constantly shift regulatory and market changes. We love working with international investment companies.
It is no secret how conservative lending has been in the last few years to even US residents so it is important that I give you all the information cleanly so there is no misunderstandings. I have about 5 main private lenders that fund most of my projects. To get this number down to 5 has been quite a process but we are confident that we have the best Foreign National lending in the State. They are broken down by a number of different things.........loan size, area, condition of home, etc. The fact remains that they are typically basing the underwriting on them by evaluating the collateral itself. The lenders have their own formulas and ways of doing this.
Typically, you will find that the rate will vary typically between ______ and ______ based on terms from 6 months - 5 years right now (email me). The costs include some normal transactional fees and then a lenders fee usually between 2-4%. I am poised to offer better terms as our volume increases but for now this is what it is.
There has been growing concern about obtaining credit in the US. Building a credit profile here in the US is going to be increasingly important to get better terms down the line. While there is no way for borrowers to get a credit score in the US personally, having a long time history as an entity (usually an LLC) in making timely payments will become an important lending factor in the future. This is why taking finance here is also appealing. The prices and the ability to cashflow with the lending we have in place is the main part. Feeling comfortable with each one of our assembled team of professionals is the other piece of the puzzle.
The ability for Foreigners to leverage has been huge recently because earlier last year it was basically unheard of so I am confident that things are moving in a positive direction. I can speak to you in further detail about the lending programs. We important to be able to provide a complete education about the process here so let me know what resources you need for your buyers on the lending side. I would have no problem with you speaking to a lender directly (truth be told they want to know just as much about who they are lending to as you want to know about them).
Arizona Mortages for Canadians. You do have choices. Ask about our 2nd home programs too!
Comments(2)