mortgage for buying investment property in usa

mikeouk

can anyone give me advice on lenders who would be able to offer a mortage on a condo in the usa? is this even possible?

herbiesjp

Yes it is possible - it all depends on your overall circumsatnces though

Are you raising money against a UK property?

Whereabouts in the US are you looking to buy?
What kind of purchase price and deposit are you looking at?

mikeouk

herbiesjp wrote: »

Yes it is possible - it all depends on your overall circumsatnces though

Are you raising money against a UK property?

Whereabouts in the US are you looking to buy?
What kind of purchase price and deposit are you looking at?

i can use the equity on my uk property as a guarantee but didnt want to extend my existing mortgage, i was thinking of a separate mortgage. im looking at florida, panama city beach to be exact, property there is relatively cheap still but theres a new airport opening in may 2010 and southwest airlines have just announced they will be flying from there, this will make the area more accessible to us holiday makers. my sister lives there and my long term plan is to emigrate there myself. Id like to start off with a condo i can generate rental income from, the holiday season is pretty much year round so it seems like a good place to invest. Im looking at condos around the $60k to $70k region, i could come up with whatever deposit was needed.

Zander01

I think you should search for the local brokers in florida. It's good place to invest. I can tell you that getting your Investment property refinanced is the quickest and fastest way to accelerate your property portfolio.