Market analysis of financing options provided by local US banks and an international bank that is strong in international mortgages.
Yes, international buyers can get financing when purchasing a New York apartment property. Financing creates leverage which means it magnifies the apartment's return. Conversely, financing also produces a debt burden because of the monthly interest expense that the investor has to pay.
Niche US banks will finance international buyers of New York apartments but the down payment required is typically 40 percent, or 60% loan to value ratio. A recent analysis shows the rate is around 6.5% at 30 years fixed. The benefit of a fixed rate is the rate certainty for the duration of the loan.
International (non US banks) also finance New York apartments. The main difference is the lower but variable rate.
Related Links:
Out website Castle Avenue Partners - Manhattan investment properties
Buying New York Apartments
International Buyer FAQ
Lloyds TSB
No comments:
Post a Comment