Manhattan Condo Living

Eileen Hsu (許小姐) and Morgan Evans, the new generation of Real Estate Professionals. We specialize in Manhattan Condos, including: Resales, New Construction, Pre-Construction and Foreign Nationals buying Manhattan New York Condos. Contact us at (917)837-8869 or (646)644-6929 Today.

Foreign Nationals Financing (mortgage) in Manhattan New York Update

If you are a foreign national, international buyer looking to purchase property in Manhattan New York, now there may be financing option available to you. The borrower should meet the following requirement in order to qualify. This is offer (updated on 10/3/2011) through Douglas Elliman Capital Mortgage company. 

Below are general requirements, each borrower will have very specific list of requirement based on individual:

  • $450,000 minimum loan amount, $3,000,000+ maximum loan amount 40% minimum down payment
  • 18-60 months post closing reserves are required, depending on loan amount
  • Borrower must establish an escrow account equal to 9 months PITI
  • Borrower must establish a second account designated for automatic loan payments
  • Income documentation required
  • Eligible property types include co-ops, condos, single family homes
  • Title may be held in the name of a corporation
  • 75 day rate lock
With these requirements, this means the minimum sales price of the property will be about $750,000. Most of the Manhattan New York housing products are eligible for this program, and as many of our Foreign international buyers, they prefer to held title in limited liability corporation (LLC) which this is possible too. 

**WE ARE NOT MORTGAGE BROKERS**, we are Real Estate agents that are have successful experiences working with foreign international buyers in Manhattan New York. We work with mortgage professionals that can provide financing for you if you are seeking financing. Call us today (917)837-8869 to discuss your Manhattan New York Real Estate purchase.

To better familiarize yourself as Foreign nationals buying in Manhattan New York, read these blogs articles below:

  1. Can Foreign international buyer buy a Manhattan NYC condo?
  2. Foreign Buyer Frequent Asked Questions
  3. Use Local Expert for you Manhattan New York condo purchase
  4. How to determine a good Manhattan New York condo investment

 

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

We specialize in Manhattan New York Condominiums, townhouses, condops and cooperatives. We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate needs in private. Thank you.

To read more about Manhattan New York Real Estate, click on our websites below:

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

4 comments • Eileen Hsu 許小姐 Manhattan NY Real Estate • October 03 2011 01:12PM