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This issue of Global Perspectives looks at the foreign national mortgage markets for U.S. properties, and addresses lending programs for overseas buyers and ways to find the right mortgage for your foreign clients.
In This Issue
In recent years, cash has dominated U.S. real estate purchases by foreign nationals. According to NAR’s 2013 Profile of International Home Buying Activity, agents reported that 63 percent of their international transactions were conducted without financing.
Is that because foreign buyers prefer a cash purchase, or do they feel locked out of the U.S. mortgage market? If...
If you have worked with global buyers of U.S. properties, at some point you’ve probably been asked about financing. During and after the recession, mortgage programs were limited to non-existent. Recently, however, the tide has turned and credit to foreign buyers has loosened. In fact, some institutions view lending to foreign nationals as a growth market. Depending on your buyer’s...
When it comes to mortgage financing on U.S. properties, domestic buyers have one distinct advantage over global ones: their credit history is easily accessible. Not so with foreign borrowers. Verifying an overseas credit standing can be the make-or-break hurdle to getting a loan and closing a transaction.
Why is documentation so important?
Perhaps you have a global buyer with...
NAR convened a work group of member experts to study easing restrictions on foreign investment in U.S. commercial property governed by FIRPTA and make recommendations to D.C. lawmakers.