| Foreign Nationals are individuals with foreign citizenship | | | | Accounts. |
| allowed to be in the United States for personal or | | | | To get around this hurdle, I suggest to Foreign Nationals |
| business purposes. They do not have green cards | | | | that they choose to start an account in their home |
| allowing them to work in the US. They are only visiting | | | | country with a large international bank, preferably with |
| this country and would only be purchasing a second | | | | branches in the area near where they want to |
| home. | | | | purchase. |
| Non-Permanent Resident Aliens are foreigners who | | | | Several banks come to mind that have International |
| reside in the United States on a temporary basis and | | | | branches such as: |
| have documentation of a government issues work | | | | - Deutche Bank |
| visa. | | | | - HSBC |
| Often, when a foreign national or a non-permanent | | | | - Citibank |
| resident alien tries to secure a mortgage loans at a | | | | When the Foreign National is in the loan process, |
| bank, they quickly become frustrates, as most banks | | | | monies can easily be transferred and verified at these |
| are not willing to lend to either parties. | | | | banks. They may even create US based accounts for |
| With the US real estate market declining in value, and | | | | automatic monthly payment options. |
| the strength of many foreign currencies, and the | | | | High Net Worth Clients can also use the Private |
| weakness of the US Dollar, many foreigners are | | | | Wealth Management departments of these three |
| finding that investments in US real estate can provide | | | | International banks to get their accounts set up and |
| an outstanding return. | | | | verified. |
| During the purchase transaction, many lenders require | | | | Though this may be complicated, there is still an easier |
| funds equivalent to closing costs plus six (6) to twelve | | | | way. I have private investors, who will lend money to |
| (12) months of PITI (Principle Interest Taxes and | | | | foreign nationals and non-resident aliens if they have a |
| Insurance) payments to be placed in a US bank | | | | larger down payment. My investors are more |
| account. The lender will require verification of the | | | | interested in equity in the property than they are credit. |
| deposits for loan approval. | | | | So, if you are a foreign national, or non-resident alien, |
| Based on the findings of some of my Realtor partners, | | | | and are looking to buy property in the US, I may just |
| some small local banks have some issues accepting | | | | have a solution for you. |
| and translating or exchanging checks from International | | | | |