Lending in the USA

Discussion in 'Loans & Mortgage Brokers' started by Rick Mick, 11th Mar, 2019.

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  1. Rick Mick

    Rick Mick Member

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    21st Dec, 2018
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    Location:
    Brisbane
    Has anyone mastered how to get finance in the USA, I have read you need massive deposit etc but I want to hear real examples.

    Also these private money lenders, anyone had any success with them?
     
  2. MTR

    MTR Material Girl Premium Member

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    I would contact @GentleChief he has a handle on this. I think he has a list of lenders

    From my research foreigners can only go for asset lend
    Set up fees are expensive.
    @Karina may also be another contact
     
  3. Karina

    Karina Well-Known Member

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    20th Jun, 2015
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    174
    Location:
    Sunshine Coast
    From my experience it is possible to finance but as a non resident you will most likely need to finance through hard money lenders and pay a much higher interest rate than locals.

    I would estimate around 8% in this market and you may be able to borrow 50 - 70% depending on the lender.
     
  4. GentleChief

    GentleChief Cash Flow Positive Business Member

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    1st Jul, 2015
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    Location:
    Detroit, Sydney
    Just got approved at 65% Lend of the Appraised value (LVR) at 6.35% per annum.
    I had the option of going to 70% Lend which increases the rate to 6.80%
     
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  5. Jordan Sinclair

    Jordan Sinclair Active Member

    Joined:
    28th Feb, 2017
    Posts:
    28
    Location:
    Adelaide
    Yes, there are a number of options available: traditional, private, HML's and owner financing.