Foreign National Loan

Foreign National Loan Nationwide

Foreign National Loan
Foreign National Loans

Foreign National Loan

Foreign National loan nationwide case-by-case up to 60% LTV, commercial and residential, $150K min loan amount. Foreign National loan require passport at minimum. Foreign National loan conventional financing may require US bank account and in some cases US employment (L1). For private money Foreign National loan require US passport only, case by case. Contact us for more information or submit an Foreign National loan Executive Summary.

Foreign National Explanation:

  • Permanent Resident Alien: the borrower lives and works in the U.S. and has a Green Card.
  • Non-Permanent Resident Aliens: the borrower lives and works in the U.S. and is here on a VISA.
  • Foreign Nationals Loan: The borrower has no Green Card and no VISA.

Foreign Nationals Loan: Program #1 (Nationwide…NO FICO)

      • The borrower has no Green Card and no VISA for a Foreign Nationals Loan.
      • Max 60% LTV; we underwrite as Second Homes…if an investment property, underwriters will consider Foreign Nationals Loan on a case by case basis.
      • Minimum Foreign Nationals Loan amount of $300,000.
      • Foreign Nationals Loan Credit: 
        • No Fico required…four credit references required – alternate credit from country of origin is
          okay…international credit reports are also acceptable. .
      • Income:
        • Foreign Nationals Loan require 2-years income verification history but it is not necessary to have U.S. tax returns…tax documents from country of origin is okay for a .  If the Foreign National loan country of origin does not require the borrower to file the equivalent of tax returns, then we need an employment letter on company letter head explaining compensation.
      • Assets:
        • Must source seasoned assets in a known verifiable worldwide financial institution (i.e., Credit Suisse, HSBC, UBS, Bank of Tokyo)…the funds cannot be in an institution which cannot be verified. The main reason for sourcing the income and assets is for OFAC (Office of Foreign Assets Control) which monitors foreign countries, regimes, known terrorists, etc.
      • Tax Preparer or Equivalent – Financial Analysis:
        • If the income and asset documentation is in a foreign language, you need to get an Accountant/CPA (tax preparer or equivalent) to analyze, interpret, convert and present the information in such a way so the Underwriter can easily understand it. That is, have a comprehensive summary and accounting of the borrower’s financial position for a Foreign Nationals Loan.
        • Include a business card or letterhead of the tax preparer or CPA so the underwriter can contact if needed.
        • All U.S. Embassies provide translation services.
      • Foreign Countries with Credit Reports & Tax Filing Systems include Australia, Britain/UK, Canada, China, France, Iran, Israel, Mexico, Poland, Thailand, South Korea, Asia, Vietnam, etc.
      • Foreign Nationals Loan borrower must have Social Security Number or Tax Identification Number (TIN) which can be easily be acquired through an Accountant/CPA or visit the IRS website that explains what and how to get a TIN. As long as the borrower has applied for the TIN, we can proceed.
      • Foreign Nationals Loan borrower needs a Passport and second form of ID.
      • Power of Attorney is not permitted for Foreign Nationals Loan. The borrower will have to go to an American consulate to sign and have loan documents notarized.
      • Foreign National loan borrower VOM/VOR is required for previous 12 months.
      • Foreign National loan Pledged Assets is permitted, however, the assets must be in a U.S. bank account.
      • Foreign National loan Asset Depletion is permitted by exception, however, the assets must be in a U.S. bank account.
      • Interest Only is optional for a Foreign Nationals Loan.
      • Foreign National loan require reserves of 12-months full debt service (including all payments, cars, etc.).
      • When pricing a Foreign National Loan, there is a specific rate adjustment….  However, you do not need to also adjust for no Fico or second home…these adjustments are built-in to the Foreign National Loan adjustment.

 Non-Permanent Resident Aliens (not a foreign national loan):

      • The Foreign National loan borrower lives and works in the U.S. and is here on a VISA (L1, B1, etc. – we don’t accept all VISAs so check with me if not L1 or B1).
      • Regular Foreign National loan LTV Matrix is available – no specific limitations.  However, when income is foreign we typically
        restrict the LTV to 50% much like a Foreign National, unless the foreign income is reported on the U.S. tax returns.  However, we might be able to raise the LTV slightly depending on the scenario.
      • The VISA should be good for another 3 years and if it isn’t then the employer company would need to verify that the VISA will be renewed.
      • Link to the State Department’s website information regarding VISAs:  http://travel.state.gov/visa/temp/types/types_1271.html#1.
      • The borrower must have a Social Security Number for a Foreign National loan.
      • The borrower hopefully has U.S. credit but if not, then we’ll need alternative credit for a Foreign National loan.
      • Reserves of 12-months full debt service (including all payments, cars, etc.).
      • There are no specific rate or pricing adjustments for a Non-Permanent Resident Alien and Foreign National loan

Permanent Resident Alien (not a foreign national loan):

      • The borrower lives and works in the U.S. and has a Green Card.
      • Regular LTV Matrix is available – no specific limitations.  However, when income is foreign we typically restrict the LTV to 60% much like a Foreign National, unless the foreign income is reported on the U.S. tax returns.  However, we might be able to raise the LTV slightly depending on the scenario.
      • The borrower requires U.S. credit and U.S. assets for a Foreign National loan.
      • The borrower must have a Social Security Number for a Foreign National loan.
      • Reserves of 12-months full debt service (including all payments, cars, etc.).

There are no specific rate or pricing adjustments for a Permanent Resident Alien and Foreign National loan.

More Foreign National Loan Information:

Stated Income and No Doc Foreign National Loan Guidelines:

      • OO, Inv & NOO: 3/1, 5/1, 15 and 30 yr
      • 60% LTV w/o US Credit (65% pur)
      • Residential: SFR, Condo, PUD & 1- 4 Unit Only
      • Foreign Nationals loan need at min a passport at time of application
      • Asset verification needed case-by-case for a Foreign National loan

Program many not be available in all states (case by case). Programs and guidelines subject to change without notice.

Find program guidelines for your your city or state:

Affiliations: NAMB | NBA | NAMP | GM

Please contact us for more information.

This is not an offer to lend. Call for details. Foreign National Loan programs & rates change daily and without notice.

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