Saturday, November 8, 2008

Canadian Financing for Las Vegas Condos!

We have discovered a great lender for Canadians wanting to buy Las Vegas homes, either as a second home or as an investment! This lender charges no loan discount points or origination fees, and the rates are the same as what a US citizen can obtain.

Lately all our blog posts have been about finding Las Vegas mortgages for our clients. With the high rate of national foreclosures, many traditional venues and programs have been discontinued, leaving buyers, even those with substantial down payments, in limbo. It has truly been a challenge for us to find mortgage lenders with reasonable down payment and rate structures.

In our never ending quest for foreign national financing for Las Vegas real estate purchases, we have literally stumbled across a lender who is able to loan money at competitive rates to Canadian citizens. This lender is able to use Canadian credit scores and income to provide mortgage loans for the thousands who are trying to flee a harsh winter climate for a few months each year.

General program guidelines for this lender are as follows:

The program is available for both second homes and Las Vegas investment properties. The minimum down payment is 20%, although the best financing on investment properties would be with a 25% down payment.The programs that are offered are full qualifying loans. Available are the 3/1, 5/1, 7/1, and 10/1 Adjustable Rate Mortgages. Each is a 30 year loan with a 30 year amortization locking in the loan rate for the short term of the loan. For example, if you got a 3/1 ARM, your start rate would be locked in for three years. (Rates are typically lower for shorter loan locks.)

The typical documentation list is as follows. Based on your own individual circumstances, more documentation may be required:

2 years personal tax returns including all pages and schedules
2 years T4s2 years corporate tax returns including all pages and schedules (if self employed)Most recent 2 months bank statements reflecting name, account number, and 2 month transaction history
Most recent 1 month retirement/investment account statement reflecting name, account number, and current balance.
Mortgage statement on any property owned in borrowers personal name reflecting name, property address, current balance, current interest rate, and current payment.
Line of credit statement on any property owned in the borrowers personal name reflecting: name, property address, current balance, current interest rate, current payment, and available balance.
Lease agreement for any rental properties.Clear copy of passport to include the signature page and picture page.

Two unique benefits of this lender are their rate renegotiation prior to closing and their loan modification process.The rate renegotiation is available to a client in the event that they lock their rate in but before closing rates drop. The borrower has the ability to renegotiate the rate to that day’s pricing with a modest premium paid.The loan modification process would come in to play should rates drop after the borrower has closed the loan.

There is a one time modification available to the borrower. It allows them to simply lower the rate with no documentation, appraisals or closing fees that a refinance would incur. It is one page that the client signs and it gets recorded behind the deed of trust. Again, a modest fee is paid for this privilege should the borrower elect to take advantage of it.Like all loan programs, there is no guarantee on how long this one will last.

So if you are a Canadian citizen who has been thinking about purchasing property in the States, call us right away so we can put you in touch with this lender. 702-985-7654 Once your financing is in place, we can find you a phenomenal STEAL on Las Vegas foreclosures! There are some incredible deals to be had in the Las Vegas high rise condo market.

5 comments:

Anonymous said...

son,kowe mesti banyak minum air putih..

Unknown said...

Will gonna check the links you have shared on your post. Thanks.

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Unknown said...

Will gonna check the links you have shared on your post. Thanks.

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paula said...

Great post you have shared in your detailed article.

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Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

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