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(813) 928-9610

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FOREIGN NATIONAL HOME LOANS

Home loans for citizens of other countries


We offer one of the most comprehensive and competitive Foreign National programs available in the state of Florida. Our Foreign National program offers what we believe to be the best Foreign National solution available in the state of Florida.

Alternative credit profiles and foreign bank statements accepted if properly translated.  

 

As a general rule, we will lend to citizens of countries that do not appear on the OFAC list.

 

We will lend to citizens of Brazil, Venezuela, and China. (for these countries, LTV is limited to 50% and reserve requirement is eight (8) months PITI.)

Our office serves the Greater Tampa Bay Area, it's surrounding communities and the entire state of Florida, making us the clear choice for your financing needs.

If you're a foreign national and would like more information, we'd love the opportunity to answer all of your questions and review your options.

 

We offer full-documentation and stated income options. (interest rates and guidelines on this page relate to our Full-documentation Foreign National program.)

 

Please see the general rules and guidelines below.

At a Glance

Minimum Down Payment

35%

Minimum Down Payment to avoid PMI

NA

Minimum mid-credit score

Varies upon borrower

Min/ Max Loan Amount

$100,000 - $6 Million

Loan Repayment Terms

30 years

Amortization

Fixed rate or Adjustable

Prepayment Penalties

None

Escrow Account

Required, for property taxes, homeowners insurance. Flood coverage must also be included in the escrow account, but only if the home is located in a FEMA-designated mandatory flood zone.

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Current Interest Rates

Effective 08/02/2022*

* Interest rates are subject to change without prior notice.  Interest rate is locked at time of initial underwriting approval and is subject to market rates on the day of approval.

Index: 1 Yr US Treasury
Margin: 2.75     Caps:  2/2/6   Floor:  Start rate

KEY FEATURES

 

    Low down payment requirement - as low as 35%.

 

    Professional Translation of financials not required, but must be legible and understandable in English.  CPA letters and Bank Reference Letters from the applicant's country are encouraged and may be required.  

 

    No Prepayment penalties

 

    Escrow Impounds - escrows are required on all loans for property taxes and homeowners insurance.  If the home is located in a mandatory FEMA-designated flood zone, any applicable flood coverage must also be included in the escrow account.

 

    Reserves - Minimum 20 months of all expenses must be documented through proper bank statements.

 

    If borrower's country of origin requires the filing of a tax/ financial document, we will require it's review.

 

    Professional translator requirement - If the borrower's country of origin does not have English as a primary language, then a professional interpreter (or a native-speaking agent of the title company in the transaction) must be present at closing to explain all loan documents and must sign as either a professional interpreter or as an authorized employee of the title company.

 

    RESERVE ACCOUNT - Applicant must establish a Reserve account with ACH Auto-Payment Debit and a minimum monthly balance requirement equal to 4 months of the full PITIA payment (Principle + Interest + Property Taxes + Homeowners Insurance, and Homeowners Association). This account must be established at a financial institution of our choosing. The balance requirement is subject to increase depending on several factors, such as borrower's country of origin and/or the current state of affairs with county of origin.  
    • Mortgage Interest rate is subject to a 2% increase if this account is not maintained as agreed.

 

    Maximum Seller Contribution - 4% of sales price.  (2% max if the subject property is an investment home.)

 

    Closing - Applicant must physically attend the closing on US soil.  Closing cannot be performed at a US Embassy, Military base, or any other US property abroad. Power of Attorney (POA) is not permitted.

LOAN SIZE LIMITS

$100,000 - $6.5 Million

ACCEPTABLE HOME TYPES

 

  • Single Family Homes
  • Planned Urban Development (PUD)
  • Condominium
  • Condotels
  • Specialty properties, on a case-by-case basis

OCCUPANCY

  • Primary Residence*
  • Second home*
  • Investment*

* Note: a property will be automatically be considered an investment property if any of the following apply:

 

  • Only rented when the borrower is not at the property or rented for any length of time
  • If the property is managed by a firm handling rentals
  • Developments that allow for short term rentals, even if the borrower doesn't intend to rent the property
  • Anything with a 1-3 day minimum rental
No Escrow Account House Coins Money

This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice.  Contact loan originator for program questions and scenarios.