Foreign National Loans Miami
Rates Starting at 10%
West Forest Capital provides hard money private loans for foreign nationals, financing real estate investments up to $5 million. We are the fastest hard money lender for foreign nationals. Our document requirements are only related to the property – we understand that foreign nationals may not have US credit history, income, or banking records.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3 – 14 days depending on the property
- We are able to use existing appraisals on a case-by-case basis
- Loan amounts up to $5 million
Property Types
- Multi-family
- Single-family Investment Properties
- Condominiums
- Retail
- Office Buildings
- Industrial & Warehouse
- Hotels & Motels
- Special Purpose & Mixed Use
- Parking Garages & Lots
- Land
Lending Parameters
| Loan Size | $100,000 to $5,000,000 |
| LTC | Up to 80% of purchase price |
| Rehab Funding | 100% |
| LTV | Up to 70% of the ARV |
| Term | Standard is 12 months. 24-36 months is available |
| Lien | First lien; second lien as additional collateral only |
| Interest Rate | 10%–12.5% |
| Points | 1.5–2% of the loan amount |
Cities in Focus
West Forest Capital funds loans for Foreign Nationals in the following cities:
Recently Funded Hard Money Loans
Naples, FL
- Location: Naples, FL
- Original Purchase: $1,950,000
- Rehab Budget: Not Required
- Loan Amount: $1,400,000
- Exit Strategy: Paydown
- Investor Capital: $550,000
- Equity Created: $62,500
- Investor Return on Capital: 11,4%
We made a Florida hard money loan to a client who purchased a three-bedroom, three-bathroom condo in a sought after building in Naples, Florida. Our client’s strategy was to generate returns by using the property for seasonal and short-term Airbnb rentals, which would generate higher ROIs vs. an annual lease. We provided a hard money loan of 71.8% of the purchase price, and our client self-funded light rehab, mostly cosmetic in nature. Our client repaid our loan with a paydown generated from the sale of another property. At the time of paydown, the property experienced appreciation of nearly $63k.
New York, NY
- Location: New York, NY
- Purchase Price: $3,800,000
- Rehab Budget: $200,000
- Loan Amount: $1,100,000 at Closing + $200,000 Rehab = $1,300,000
- Exit Strategy: Sale
- Investor Capital: $3,800,000
- Equity Created: $650,000
- Investor Return on Capital: 17.1%
This New York hard money loan was made to a client who owned an existing building in Manhattan. The building consists of six full floor condominiums, and our loan was collateralized by one of the units. At the time of our loan, there was no existing debt on the building. Our loan consisted of two parts: $1.1m at closing for general renovation and upgrading of the building (including replacing the elevator) and $200k specifically used to rehab the subject property. After the extensive upgrades were completed, the unit was put on the market and sold for $4.6m, an increase of $650k from the original appraisal. Our loan was paid off with a portion of the proceeds from the sale.
Miami, FL
- Location: Miami, FL
- Purchase Price: $750,000
- Rehab Budget: $110,000
- Loan Amount: $543,750 at Closing + $110,000 Rehab = $643,750
- After Repair Value: $1,125,000
- Exit Strategy: Refinance
- Investor Capital: $206,250
- Equity Created: $265,000
- Investor Return on Capital: 128.4%
Our client utilized a hard money loan in Miami, Florida to fix and flip this property in Surfside. We funded 72.5% of the purchase price, and 100% of the $110,000 rehab budget. Our client spent approximately 5 months renovating the house, and thereafter, the property sold within a week of being on the market. The closing took place approximately a month later, and although the loan was only outstanding for 6 months, there was no prepayment penalty assessed. Our loan was paid back with a portion of the proceeds from the sale, netting our client north of $200k after accounting for all holding and closing costs.
Why Use a Hard Money Loan
- If you need funding fast. As non-US Citizen, a typical bank may take months to review your loan application. If you have put down a deposit on a property, you face losing the deposit unless you can get a fast mortgage to close the loan. We can help in these situations by funding within 5 days. In fact, we have previously funded a loan in just 1 day!
- You lack the required documentation. Sometimes, it’s not a question of time, but the difficulty in producing the documents that a US bank requires to fund your mortgage. You may not have an established credit history in the US, a US address, or be able to show US income. The good news is that we do not require a credit history or such documentation for Foreign National real estate investors.
- There is an issue with the property. As a Foreign National, construction funding may be harder to obtain from a bank. If you are considering purchasing an investment property that is not completed or needs rehab, we will be able to help by providing you a hard money loan while the property is stabilized.
- If you would like a US LLC or Corporation to own the property. A traditional bank is likely to require that a Foreign National real estate investor is listed directly on the mortgage. If you prefer to purchase your real estate investment property in a corporate entity such as an LLC, not only do we prefer that as well, we actually require it. A perfect match!
Why Choose a Foreign National Hard Money Loan in Miami
Miami offers foreign real estate investors many advantages. There is a strong international business presence in Brickell and in downtown Miami. Furthermore, there is a very large and diverse foreign national population in Miami. Besides the traditional base of Brazilian, Cuban, Russian, Ukrainian, Middle Eastern, Colombian, Venezuelan, and other Latin counties, we are now seeing growth of Chinese and other Asian communities. The inclusive culture results in a dynamic mix of entertainment and hospitality. The result has been a real estate market that has remained attractive throughout the economic cycle, and is especially sought after by foreign national buyers looking for a relaxing lifestyle and a stable real estate investment in a relatively predictable political environment. Investment real estate opportunities span from Miami Beach, to Little Havana, and Hialeah, North Miami, Surfside, and Sunny Isles to Kendall, Pinecrest, and Doral.
We are a foreign national friendly hard money real estate lender in Miami. Our knowledge of the real estate market and mortgage requirements, combined with our understanding of the immigration process and residency status puts us in a unique position to accommodate your investment real estate financing needs as a foreign national in Miami.
Financing your Miami Investment Property as a Foreign National
Rather than require personal documentation, we make your hard money loan based on the value or purchase price of your real estate property. If the property needs repairs, we can fund 100% of those costs. We recognize that foreign nationals have many reasons to invest in US real estate even if they do not own a business or work in the US. Therefore, while having a credit history in the US is helpful to obtain a higher LTV, it is not required to obtain a foreign national hard money loan in Miami. A US bank account is also not required, but similarly, is helpful to have. We do require a domestic LLC to hold the property, and for the borrower to have a plan to exit our mortgage loan. That is, either demonstrating the ability to refinance the hard money loan with a bank, planning to sell the property, or to pay the mortgage at or before maturity with other funds.
Asset-backed Lender Focused on Foreign Nationals
We provide foreign nationals hard money loans secured by investment real estate in Miami, Florida. The hard money loans we provide are based on the value of the property, so in some cases we can finance 100% of the purchase price and rehab amount. Importantly, we do not require the borrower to have any specific type of residency status or US issued ID – a foreign passport will suffice.
West Forest Capital also offers the longest private money loan available on the market for foreign national investors (3 years). This is a great tool that allows additional time to go through the immigration process while getting ownership of Miami real estate.
If you are a foreign national and need a hard money loan in Miami, please give us a call to discuss your scenario. In many cases, we can provide you with preliminary approval right on the phone (a term sheet will follow shortly thereafter).