Thanks PNGMK. May I ask where your property was? OCBC is the only bank advertising loans for the US market and only focus on New York. I can’t seem to find any banks online that advertise for California where I want to buy.PNGMK wrote:I used to do this but once my local property was 50% paid off I used a equity loan to pay off the foreign collateral loans completely. Now I don't really care what the exchange rate is doing as my foreign properties are "paid off" (in the sense they don't have a mortgage against them).
Good tip on the local branch presence in USA. I see that citi sg doesn’t offer any foreign property loans. Need to check HSBC. BOA - not sure they have a presence in SG so need to check. Thanks!PNGMK wrote:ANZ/Australia. For USA you'd need to look at Citi / HSBC / BOA and other banks with retail presence in the USA. The given reason being that if they need to hold your title as collateral they need to do it in the USA via a registered bank in USA as the mortgagor and they need to do valuations (and not just desk valuations but actual walk throughs). I assume OCBC have an office or partner bank in only NYC doing that for them.
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