However, recently we
have found out that hard money lenders in the United States have been looking to
expand lending borders for prospective borrowers.
Consequently, a number of them have now
closed deals outside of the United
States.
There are two types of
commercial lenders; those that offer soft money at low interest rates,
and those who offer hard money at higher interest rates.
Regardless of which one you choose, the
interest rates offered for international commercial deals are not going to be
anywhere near what they are when the deal is done within the USA.
I have learned in my lifetime that the more
expensive the loan quote, the more likely the lender or source of funding is
for real.
For instance, hard
money commercial real estate loans are very expensive; thus, the company
quoting 4% interest for 20 years usually turns out to be advance fee scammers.
The company quoting 12% interest and eight to ten points actually wants to
close loans.
You need to be careful and watch
out for those fee scammers who will only have you dancing around and taking
your money while never being able to close the loan.
So let me just tell
you that, - international commercial real estate loans actually do close!... they're
just a little bit more expensive right now. After these daring hard money
lenders make a few hundred million dollars in loan fees making international
commercial real estate loans, the banks and Wall Street will probably follow.
In the long run,
however, a lot of resort projects out there still make sense at 12% interest rate
and eight points closing fees. If you have an international commercial real
estate loan request of
$1 million USD or
higher, please contact us:
Very interesting article. How is the market for UK residents wishing to take out investment mortgages in Mexico?
... written by Deborah Mickelson,
December 03, 2007
Great article ! I work as mortgage broker in Playa del Carmen. We too are closing loans. I can beat the 12% interest rate, but the closing cost is about the same percent. Our LTV is 70 - 80 % up to 30 years.
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