Our Foreign National Loans program is designed for borrowers with no residence or work in the United States to allow them invest in U.S. real estate and bypassing strict credit and income documentation requirements imposed by traditional lenders. Investments like this allow you to take advantage of rental markets by using the income generated from the property or showing your income and employment verification from your country of origin.
1
Credit
Two reference letter required.
For Canadian Borrowers: International Credit report.
2
Income
Self-Employed: CPA Letter with last two years of income.
Salaried: Employer letter with monthly/yearly income
3
Programs
Purchase and Refinances.
Cash Out.
Asset Depletion.
Condo purchases of $200,000 - $1,500 million (30% down payment), purchases of $1,501 million - $4,000 million (35% down payment)
Single Family Homes purchases of $200,000 - $1,500 million (25% down payment), purchases of $1,501 million - $4,000 million (30% down payment)
Condo or Single Family Homes purchases with loans over $4 million (minimum of 35% down payment, but will be Case by Case up to $20 million)
35% down payment on Condo Hotels up to $5 million (over $5 million Case by Case)
Required Financial Documentation
CPA / Income Letter (Self Employed)
Employer Income Letter (Salaried)
Past 2 monthly Bank Statements (English and USD converted are requirements)
2 Forms of ID required - Drivers License or Passport /Visa (if applicable)
Two credit reference letters
Utility Bill with Borrower's name and Primary Residence address visible
Copy of Insurance & Tax Bill on Primary Residence (when applicable)
Proof of 12 months of reserves of payment on purchase at Borrowers own bank or financial institution
Executed Sales Contract
Proof of Deposit on Contract and proof of funds clearing bank account
Copy of Mortgage Statements on any REO with a mortgage associated with the Property
