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FOREIGN NATIONAL
Home Loans

Home Loan Financing for Foreign Nationals

We lend to Foreign Nationals.  We offer two distinct loan programs to make it easier for you to achieve your homeownership dreams.

Each program is designed to provide financing to Foreign Nationals looking to finance residential homes in the United States.

With our extensive experience and knowledge, we are confident that we can help you navigate the loan process with ease. Let us help you make your dream of owning a home a reality.

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Check the US OFAC List

We lend to citizens of most countries, as long as neither the country of citizenship nor the applicant themselves appear on the United States Office of Foreign Assets Control (OFAC) list.

YES! We lend to citizens of
Brazil, Venezuela, and China.

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Our Foreign National Classic is our traditional "Full Documentation" Foreign National Home Loan program.

This loan traditionally offers our most competitive interest rates and terms, and has reasonably flexible underwriting criteria.

 

➤  WHO IS THE IDEAL CANDIDATE?

 The ideal candidate for this program is an applicant who is well-qualified and can demonstrate the following criteria:

  1. Verifiable Income - income through income tax returns (country of origin or US or both) Business returns & personal returns if applicable.

  2. Strong credit history from country of origin. US credit not required, but encouraged if present. Bank reference letters from applicant's country of origin are encouraged.

  3. Stable work history.

  4. Strong liquid financial reserves.

 

➤   ACCEPTABLE COUNTRIES

As a general rule, we will lend to citizens of most countries, as long as the country nor the applicant themselves appear on the United States Office of Foreign Assets Control (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.)

 

For more details, please refer to the Key Features Section below.

Our Foreign National DSCR* Investor Cash-flow Mortgage is our Unconventional program that uses the market rental income for the home being financed as the qualifying income for the loan. Tax Returns are not required.

*  DSCR stands for "Debt Service Coverage Ratio".

This program still offers competitive interest rates and terms, but has significantly lower qualification standards than our Foreign National Classic Home Loan program.

 

➤   WHO IS THE IDEAL CANDIDATE?

The ideal candidate for this program is an applicant who is looking to buy residential United States real estate for investment purposes. General qualification means that applicants for this program must demonstrate the following criteria:

1. DSCR Ratio of at least 1:0 for the Market Rental Income potential on the home being financed. We use the Market Rental Analysis performed by a licensed real estate appraiser as the monthly income for the new loan. We can use both the Long-term rental approach as well as the Short-term rental approach, such as AirBNB, VRBO, etc.

 ➤   ACCEPTABLE COUNTRIES

Applicants and countries appear on the United States Office of Foreign Assets Control (OFAC) list . Under this program, we will lend to citizens of Brazil, Venezuela, and China on a case-by-case basis.

For more details, please contact us today!

 

For more details on how DSCR programs work, check out our DSCR PROGRAM RESOURCE PAGE »

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FOREIGN NATIONAL CLASSIC PROGRAM HIGHLIGHTS

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KEY FEATURES

  • Low down payment requirement - as low as 20%. Down payment varies on the country of origin, as well as the overall strength of the applicant.
  • Professional Translation of financials not required; however all documents must be legible and understandable in English and currency converted to US Dollars.  CPA letters and Bank Reference Letters from the applicant's country are encouraged and may be required.
  • No Prepayment penalties
  • Escrow Accounts for Property Taxes and Homeowners insurance - escrow accounts 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 show 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 Interested Party Contributions - 4% of sales price.  (2% max if the subject property is an investment home.) Combined from all parties in the transaction, including Sellers, Real Estate Agents or Builders, etc.
  • Closing Attendance - 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.  Signing via Power of Attorney (POA) is not permitted.

LOAN SIZE LIMITS

$100,000 - $3 Million

ACCEPTABLE HOME TYPES

  • Single Family Homes
  • Townhomes /  Villas
  • Condominium (low rise or high rise) - both warrantable or non-warrantable condos okay
  • Specialty and/or unique properties considered on a case-by-case basis

OCCUPANCY

  • Primary Residence
  • Second Home / Vacation Home
  • Investment Home *

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

  • Only rented when the borrower is not at the property
  • If the property is managed by a firm that handles rentals
  • Developments that allow for short-term rentals, even if the borrower does not intend to rent the property
  • Anything with a 1-3 day minimum rental period
No Escrow Account House Coins Money

Current Interest Rates

Effective 03/21/2023*

* 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

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GET PRE-APPROVED FOR THIS PROGRAM TODAY »

CALL TODAY:
(813) 928-9610

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HAVE A QUESTION? MESSAGE US TODAY  »

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.