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@KellyMarieD

From my knowledge of how loans work in USA, it depends on your credit score, credit history, income, how much you need and the bank specifically.

Some banks would probably offer you a type of loan if you made tons of money and had a perfect credit score.

Most banks probably wouldn’t risk their loans to someone doesn’t make a ton of money and wants a home outside of USA.

Your question is extremely vague.

double post idk why

@essxiv Thank you for your response.

Some more information. I am a US citizen working in the US earning my income in dollars. I have a good credit score and a good income. I would qualify for a home loan in the US. I am wondering if US banks loan for properties in Brazil and if anyone here has gone through this process.

No bank in the USA is going to accept any piece of real estate located in Brazil as collateral for a loan because they cannot force foreclosure and sale, they have no standing in Brazil courts.

If your situation is sufficient to make a signature loan, all well and good, you can go that route.  Meaning that you have dependeable and attachable income and/or assets in the USA.  But you wont be able to get a mortgage or HELOC of any kind ......

Bankers in the USA will not even loan moeny to their own mothers without a solid way to recover in the case of non-payment.

@Inubia thank you for the response.

While not really in line with your question, I will ask from a different angle. What is your status in Brazil? Can you or do you have bank accounts in Brazil?

While living in the USA, my Brazilian wife and I, prior to my RNM, got a home loan in Brazil, with a Brazilian bank she had accounts with and had a history of making regular deposits into from the USA. We tried to get a second loan, on a second rental and that bank said no, one at a time was their limit.

We are still living mostly in the USA, but I have my RNM now. I am currently assuming a home loan right now on an apartment purchase in Brazil. But, I have my own bank accounts, in a different bank than my wife's, my own credit, etc. established now in Brazil with a history of sending money from the USA into my Brazilian bank accounts. Having a history with a bank, your own bank, in Brazil is a big deal there, unlike for most of us in the USA.

@rraypo  Hi thank you for your response. Currently I am in Brazil on the Nomad visa and I do have my own brazilian bank account. How long did you have the brazilian bank account before applying for the home loan?

My goal is to purchase an apartment in Brazil. I would like to find a feasible path to do so. Any advice is appreciated.

@KellyMarieD My guess is you won't get that with a nomad visa. But worth a try.

@rraypo Hi thank you for your response. Currently I am in Brazil on the Nomad visa and I do have my own brazilian bank account. How long did you have the brazilian bank account before applying for the home loan?
My goal is to purchase an apartment in Brazil. I would like to find a feasible path to do so. Any advice is appreciated.
-@KellyMarieD

Our first loan was with Santander where my wife had banked for a couple of years, checking, savings, debit, and credit cards, but with a very low limit. We also never carried larger balances in her accounts but did make regular, but small deposits from the USA. She also had credit in Brazil with a couple of smaller stores for purchases. As you probably, know, everyone in Brazil makes purchases using store credit, this helps to establish a credit rating/history there. We met with a couple of different managers and one just made the loan happen. We lived in that apartment for a while, remodeled it, and it has been a rental ever since then.

11/30/22 @KellyMarieD. I agree with Inubia that no US bank will write a mortgage on a residence in Brazil, because there's no practical way for them to collateralize it. US Bank was my bank too, and I always found them to be customer-focused, but I can't imagine even them doing it.

By all means, check out home financing options at Brazilian banks. Be prepared for sticker shock, though, both with respect to interest rates (high!) and terms (short!).

I recommend reviewing the Activity Log of member sprealestatebroker, especially on the pitfalls of buying a new apartment from a developer.  Opinions are opinions and need to be checked with your own research, but he's in the industry and freely shares his professional insights.

@KellyMarieD

Hello KellyMarieD.  I was able to indirectly use a US mortgage to help finance a piece of real estate here in Brazil.  While it is correct that a mortgage requires a home as collateral, and no US bank would accept a piece of real estate in Brazil as collateral, if you already have US real estate with enough equity, you may be in luck.  Specifically, I did a cash out refinance on my US home, I got a check for the excess equity, then sent those proceeds to Brazil.

@KellyMarieD

Zero chances.

No recourse on delinquent mortgages no way they are to float you a loan. 

A mortgage is issued against the collateral, then the property which you are borrowing against.

And all US based banks are gone. 

You will need to convince the seller to actually bankroll you.   Some developers will do, with a high spread on a short term  ( forget those 15-30 year mortgages ). 

The good news is,  lots of those developers are sitting on a pile of unsold inventory. Maybe, one of them will warm up to you. 

Forget vintage, This Ole House, or a spec house.  It ain't happening.

As others have noted, no US bank will write a mortgage on a Brazilian property.   I asked several as well as some international banks that have presence in Brazil. 

someone mentioned a cash out refi.  I did that a  year or so again to cover a big part of my land purchase.  If I had it to do over again, I’d probably have gotten a home equity line of credit.  I also took a personal loan from the bank - not crazy about the interest rate, but lower then capital gains tax and a mortgage loan from a Brazilian bank (if that would even be possible)

Your US Lender can't simply repo the property in Brazil, in case it goes to default on payments. 

Can't repo, there is no collateral, hence a no loan outlook. Simple as that.

The easiest ways to get it financed are....

1.You will find a commercial bank in Brazil which may have an office in the US, assuming you have a property to be used as a collateral in the US.

2.Get a seller's financing towards your purchase ( usually on new units, as the backlog of unsold built units is huge ).

Either options won't warrant you decent rates.   

The base prime rate in Brazil, the Selic, is on the double digits, so you might want to contemplate seller's financing at a short term and a lot of up front down stroke money. 

Or....

You can lump together a group of cats from your home country, call them investors....

And target a whole  building to be repurposed and retrofitted for residential ends. 

They put together enough for your starting working capital, and then you can work with a US based lender to

actually float your cash out difference on acquisition and repurposing costs. 

For a while , you can't claim title and deed of the unit you choose to reside, so you will need to go in a Coop or Tenancy in Common arrangement.  Once a certain amount of time elapses, say 10 years, then you can split the units as condos ( we call it desmembramento ).

In downtown proper ( parts of Bela Vista, Republica, Historic Downtown, Bras ), you can actually snag gems purposed as office buildings yelding little rent income.  There are enough fiscal incentives such as property tax deferrement up to 3 years after a certificate of occupancy is issued, and once residential units, the resale has a waiver on the transfer tax ( 3% usually ). 

That is a bet on the outcome, as gentrification is rolling in . 

You know, this is how the Britsh and Dutch once did, when they ventured the Seven Seas to conquer other territories.  They formed stock issued enterprises so they could set sail and lay claim.   

If i am not mistaken, the Puritans that landed in Plymouth, MA, did as such,

Here's what i meant for pony ing up the money and acquire a building for repurposing ends....

The story is about a group of like minded people ( in this case gay people ) with little to no money, who weren't getting the bank's approval for a condo mortgage.   

They targeted a building which was about to go on sale, knew tenants were leaving.   couldn't not get approval for a mortgage, so they made themselves tenants on the building they were buying, which in the process, made the lender's approval a whole lot easy.

This Coop thinking, might, as I speculate, take ressonance with a Brazilian Bank, whose charter grew on the whole Cooperative concept ( Rural Coop ), starting out in Parana. 

There are a bunch of  Kirsten Dirksen videos that breach the housing subject under the lens of how people actually solved their needs through some creative thinking.  You should binge on them, maybe there is a narrative that comes close to what you are seeking after.