Milo is the Easiest and Best Mortgage Solution for Real Estate Investors in the U.S.
The United States has diverse market opportunities that usually guarantee strong yields, especially in high-demand areas like Miami, Los Angeles, and New York. A recent analysis revealed that demand for high-end properties in Manhattan is still on the rise as rents are reaching new heights, making it a lucrative market for investors (Knight Frank, 2022). Given these potential investments, many foreign investors also want to get in on the real estate action. But where should you start? This is where Milo comes in.
Milo is a financial technology company that addresses the mortgage challenges faced by foreign nationals who seek to invest in U.S. property. The days of being rejected for a loan or purchase simply due to a lack of a social security number are over. Milo recognizes the investor's potential and provides the necessary support to expedite the real estate investment journey.
Pros of investing in U.S. property for Canadians
One of the biggest advantages for Canadians investing in U.S. real estate is the cost efficiency. Property prices in U.S. cities like Miami and Los Angeles are significantly lower compared to major Canadian markets such as Toronto and Vancouver. This lower price per square meter allows Canadian investors to acquire properties at a more affordable rate, often enabling them to purchase multiple properties or diversify their portfolios for the price of a single property in Canada. Additionally, the U.S. market offers diverse opportunities across various states, each with unique benefits. Florida, with no state income tax and a thriving rental market, and California, home to the tech industry and high demand for housing, are just a few examples of prime locations for investment.
Additionally, U.S. properties tend to provide more favorable rental yields due to lower acquisition costs and strong rental demand, especially in key markets. This can translate into a stable and lucrative passive income stream. By carefully selecting properties in high-demand areas, Canadian investors can maximize their return on investment, making U.S. real estate a compelling option for those looking to expand their portfolios.
Challenges of traditional U.S. lenders for international investors
For foreign investors, securing a mortgage through traditional U.S. lenders or banks can be frustrating. Most of these financial institutions demand extensive verification to approve non-U.S. citizens, regardless of how much capital they have. Applications often get lost within the bureaucratic documentation requirements.
In addition to the extensive paperwork, some lenders may require investors to be physically there during closings. Although foreign nationals can provide proof of income, tax returns, and other identification, these documents may not be in easily accessible formats.
Moreover, traditional lenders often impose stricter requirements for credit history and income verification that don’t align with international investors’ profiles. U.S.-based lenders typically rely on local credit scores, which most foreign investors don’t have, making the approval process lengthy and complex. These factors can lead to delays, higher interest rates, or even outright rejection, regardless of the investor’s financial health or asset portfolio.
These challenges make it more difficult for you to access valuable real estate investment opportunities in the U.S. However, Milo provides a simple and streamlined solution for foreign investors' financial needs.
Milo’s solution: Innovative cross-border mortgage options
Milo eliminates the need for excessive paperwork for approval. The company is fully digital, and its application process is designed to be hassle-free. Additionally, Milo’s approval process is quick due to its advanced data-driven engine, which evaluates multiple loan scenarios based on borrower attributes.
Milo has successfully processed more than $200 million in applications from 93 countries, and the company shows no signs of slowing down.
One of Milo's significant advantages is its global accessibility. Unlike traditional methods, Milo does not require a U.S. credit history or the investor’s physical presence for document verification or closing. Milo's processes are explicitly designed for speed and simplicity. The company has streamlined both the application and approval processes, ensuring loans are secured in a fraction of the time it would take with a traditional bank.
Milo’s mortgage solutions are specifically designed for foreign national investors. Traditional U.S. lenders often struggle to accommodate the unique needs of foreign nationals, but Milo tailors its services to address these challenges.
There are multiple notable cases where Canadian investors have been able to secure cross-border cash-out refinance. In one case, a self-employed Canadian investor faced challenges securing traditional financing for their Florida property. Milo's DSCR loan offered a solution by focusing on the property's rental income potential rather than the investor's personal income. This allowed the client to refinance without the need for extensive documentation and secure funds for renovations and future investments.
The Future of Cross-Border Real Estate Financing
Milo is transforming the way foreign national investors access the U.S. real estate market by eliminating common barriers. Offering global accessibility and streamlined financial options, combined with faster approvals, makes Milo the ideal choice for cross-border real estate financing.
For investors ready to embark on their U.S. real estate journey, Milo provides the tools needed to get started. Simply create a profile, explore Milo’s offerings, and begin the application process today.