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Question
Hello,

As the subject states, I live in Canada, but want to invest in real estate in United States. Unfortunately all United States lenders that I have spoken to require at least a 50 - 60% down payment on the properties.

Is there any way around this? For example, if I were to incorporate a business in United States, could that United States business (as a corporation) get better loan rates where I can put down 20-30% down instead?

Thanks!

Answer
Guidelines state that Borrowers must have US income and tax returns; not aware of any lenders offering conventional financing for investment to foreign nationals with foreign income.
re: Corporation -  Typically corporations are not lent to with the same underwriting guidelines as individuals. I am a residential, not a commercial lender. I would recommend asking a commercial lender; but typically they are not interested in financing indivdual homes (note: however, there are large groups buying thousands of investment properties here in the US, through some type of consortium (see: Bloomberg.com for more details).
Anyway, to get back to your question - I would recommend you consult a US real estate attorney as a starting point and go from there.
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This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Al Rodenburg

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Risk Management Consultant. see: Identity Theft Solutions and Life Events Plans.

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As a person who has worked with individuals who have experienced identity theft and major life events, I am pleased to be part of Harvard Risk Management Corporation.

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CMPS Institute; Houston Northwest Chamber of Commerce - Committee Chair; WCR - Womens Council of Realtors; HAR - Houston Association of Realtors; Houston Northwest Business Networking Group (founder); The Woodlands Area Chamber of Commerce

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Certified Mortgage Planning Specialist (CMPS Institute) ; University of Illinois - at Chicago; Florida State University; Principia College; Lake Forest School of Management; Roosevelt University; Salt Lake CC

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Al has a diverse national clientele.

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