For those that are new to this country, it can be difficult to get financially planted. Moving across the globe to start a new life is risky and exciting all at the same time. Many new foreign nationals are unable to qualify for loans, and that often means that they can’t buy homes, cars, or go to school. Ironically, those three things are often the reason that they moved to the United States. We truly are the land of the free, and there are lots of opportunities for everyone but there are also many difficult hurdles to jump over. An investment in real estate is something that everyone should have the opportunity to do, no matter what country you are born in.
Most other banks require proof of income from any borrower at the beginning. For any person moving to this country for the first time that can be difficult. Although they may have been working in their home country for decades, they may not be able to provide proof within the strict parameters of a lending institution. This would require bank statements, tax returns, pay stubs, or other official documents that are only accepted if printed under the realm of the United States government.
Montegra offers a simple program for foreign nationals to purchase commercial or residential real estate. Although the program is simple the opportunity is great for those who have been turned away by other banks or private lenders. The program is called the EB-5 Visa program. This program was originally created by the federal government to encourage investment from foreign sources. It briefly allows non-citizens to obtain a green card, and in return those non-citizens bring in business opportunities in the form of real estate development. The ultimate goal was for new jobs to be created within the United States by outside sources, and the green card was the encouragement. If such foreigners were allowed to become permanent residents, they are given many more investing opportunities and those investments could lead to lower unemployment for everyone. Through the use of this program, Montegra can offer foreign nationals the chance to invest in commercial or residential real estate while at the same time creating jobs for local developers.
With this program, think of all the great opportunities that could arise for all parties involved. Private lenders have the chance to provide new hope for immigrants in this country, and those immigrants are given the chance to build a solid financial base for themselves. With an investment in property, foreign nationals also create opportunities to work for other individuals like themselves who are having a difficult time finding work due to all of the immigration red tape. Moving to a new country to begin a new life is extremely courageous, so the systems already put in place should not make this transition more difficult. Private and public lenders should offer the opportunity to make a significant change, and that’s why Montegra offers a program specifically to do just that.