Mortgage In New York

D

davordaz

Guest
I am self employed individual , who for a variety of reasons is determined to purchase a property in New York . I do not have any property ( equity release ) here in Ireland . I earn circa 100k per annum through my company but pay myself 20000 per annum on the PAYE system . Firstly how could I if it all finance a US property purchase , using My Company Income and a Downpayment , Secondly how should I pay myself to maximise my credit ( if I pay myself more than 32 , Im handing almost half back . I appreciate there are many percieving this as someone who hasn,t got a clue , I need to educate myself on theese issues and would really appreciate anyone viewing this who would have some information on this issue , How could I get a US property financed
Regards
D
 
Some of the banks take a lot of your expenses into account i know as i am in same predicament as you.

I contacted a mortgage broker about it and he sorted it out.

Im sure its the same in the states
 
davordaz said:
I am self employed individual , who for a variety of reasons is determined to purchase a property in New York . I do not have any property ( equity release ) here in Ireland . I earn circa 100k per annum through my company but pay myself 20000 per annum on the PAYE system . Firstly how could I if it all finance a US property purchase , using My Company Income and a Downpayment , Secondly how should I pay myself to maximise my credit ( if I pay myself more than 32 , Im handing almost half back . I appreciate there are many percieving this as someone who hasn,t got a clue , I need to educate myself on theese issues and would really appreciate anyone viewing this who would have some information on this issue , How could I get a US property financed
Regards
D
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I would suggest taking on the services of n overseas mortgaeg company. I have previosuly used Conti Financial Services who are based in HOve in england. They will give you the lowdown on how to go about your purchase and criteria for dirfferent banks, otherwise you'll be going round the houses. for the record i have no vested interests in this copmany and dont work for them!
 
I am aware that Gunne Financial Services (part of the Gunne Estate Agent group) have previously arranged mortgages for clients' properties in New York.

NB
My employer is affiliated with the Gunne Group.
 
Unless you have established credit rating in the US, you will get much worse conditions (higher rates, lower LTV) from a US lender. Your personal income is not very high which may be a problem given prices in NYC. Self cert without having a good credit rating is, to my knowledge, very hard to get. Speak to brokers and maybe someone can offer some solution...
 
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