The mortgage industry’s definition of foreign national is much more narrow than the legal definition used for immigration purposes. But in terms of real estate investment, it’s an important distinction to understand.
If you are a foreign national who lives, works and resides in your home country, but you do business in the U.S. or make short visits to Florida for work or vacation, you may want to own property here or invest in real estate.
Savvy foreign national borrowers know that Florida real estate is a great investment, but buying a property in the United States as a foreign national can be challenging—especially if you’re looking for mortgage financing through a bank or traditional lender.
From having to supply detailed documentation to the slow decision-making process to sorting through all the red tape, sometimes getting the financing you need for real estate investment through a bank or credit union isn’t always easy, efficient, or economical.
The Challenges of Traditional Financing?
Foreign buyers usually want to avoid the cumbersome lending obstacles in this more heavily-regulated lending environment and typically need to move a bit quicker than the average borrower.
Institutional lenders like banks and credit unions have to follow stringent federal requirements to prove a consumer’s ability to repay their loan, making mortgage lending to foreign nationals far more difficult, and often more costly or time consuming
It’s a risk that traditional lenders like banks and credit unions aren’t usually willing to take, but hard money private real estate lenders like Community Capital will. The “proof” that foreign national borrowers are required to provide to traditional lenders can sometimes stall a deal before it begins.
The challenges that foreign nationals may face include:
● Verifying their credit history
● Proving income and assets
● Higher down payments
● Prepayment penalties
● Extensive foreign credit report verification requirements
● Cost of multiple appraisals
● Added scrutiny and slower processes
That’s where alternative lenders like Community Capital Holdings can help, as we make it easy for foreign national borrowers to secure the funds needed to invest in Florida real estate properties and projects.
Alternative Lending Options Make A Lot of Sense
If you are a foreign national borrower and are looking for a funding partner with local knowledge, lots of connections, and the ability to make quick-decisions and secure the financing you need, then a hard money private real estate loan from Community Capital may be right for you.
A foreign national borrower may prefer working with an alternative lender like us; a partner who has worked with hundreds of foreign national borrowers and specializes in hard money private real estate loans for the following reasons:
● They want to leverage local connections
● They need a funding decision within 24-hours
● Are making a cash transaction
● Have no primary residence
● They don’t have a Social Security number
● Have no U.S. credit score, credit history, or references
● Don’t have any proof of employment, income or assets
● Have no way to verify down payment
Why Choose Community Capital if You’re a Foreign National?
Community Capital is based in South Florida, we are industry experts with 120 years of combined experience, we are well-capitalized and connected, and we know the market better than anyone.
We are Florida’s premier provider of private real estate loans and work closely with foreign national borrowers, having funded millions in successful projects throughout the state of Florida and have a proven track-record of success.
Our asset based loans allow qualified foreign investors to take advantage of these opportunities without the same documentation or due-diligence that traditional loans would require.
While there are many lenders that may claim to fit your needs and many companies who say they’re “experts”, the experienced underwriters at Community Capital Holdings understand the unique needs of foreign national investors and we focus solely on hard money private real estate loans. That’s all we do.
Hard money loans from Community Capital Holdings are a great option for serious foreign national investors looking to receive quick funding on real estate properties and projects throughout the state of Florida.
With our expertise and experience behind your next investment, you’ll get the financing you need in order to invest in non-homesteaded (rental and investment) property types such as:
● Commercial properties
● Office buildings
● Retail properties
● Single-Family and Multi-Family Homes (Investment only)
● Townhouses and Condos
● Apartment Complexes
● Special-Use Properties
● Warehouses and Industrial
● Construction projects
● Mixed-Use
● Medical Office-Condo
To learn more about how we can help foreign national borrowers invest in real estate here in Florida, contact us via email or by calling (954) 947-1232.
Please note: All of the loans we fund are for non-owner occupied (rental and investment) properties. Homesteaded primary residences are not eligible.
