Overseas Buyer’s DSCR Home Purchase

Dec 26, 2023

Exploring the intricate world of mortgage lending often means maneuvering through tough situations that can shape the outcome significantly. Here’s a recent tale that perfectly illustrates how we turn demanding cases into triumphant home purchases.

Real-Life Example: Overseas Buyer’s DSCR Home Purchase

Our client, a newcomer to U.S. homeownership and a savvy investor from Peru, encountered unique hurdles when seeking a loan due to their lack of prior U.S. property ownership, despite a solid real estate portfolio in Peru.

Challenges and Innovations:

  • Language Barrier Overcome: The borrower’s documents were in a foreign language. Our resourceful broker translated everything into English, ensuring smooth underwriting.
  • First-Time U.S. Homebuyer Status: Despite owning properties in Peru, U.S. guidelines treated the borrower as a first-time buyer. Solution: Using the borrower’s substantial reserves, we obtained an exception to this guideline.
  • Limited U.S. Investment Experience: The DSCR transaction typically demands proven investor experience. Solution: By making a sizable down payment of 30%, we sidestepped this requirement successfully.
  • Intricate International Fund Transfer: The borrower’s funds were initially in Peru. Solution: We meticulously tracked the transfer of funds from five different Peruvian accounts to U.S. accounts, providing clear evidence of cash flow through multiple translated bank statements.

The Result:

Despite these obstacles, our personalized approach and unwavering dedication led to a successful purchase. This instance underscores our proficiency in handling intricate, unconventional loan scenarios, especially for our global clientele.

Why You Should Care:

Each client’s situation is distinct, especially for international borrowers. This success story highlights our adaptability and knack for finding solutions in what may seem like impassable situations. Partnering with us means choosing a team dedicated to making even the toughest deals happen.

We’re committed to extending the same level of dedication and expertise to all our clients. Contact us to learn more about our loans for foreign nationals.