Foreign National Program

What is a foreign national mortgage?

A Foreign National mortgage loan is for a borrower that has a visa or resides in a Visa waiver country. The borrower must live and work in a foreign country and cannot live or work in the US. The borrower qualifies under the DSCR program and qualifies on how the property cash flows. The foreign national program includes non-owner-occupied residences only. This program allows Purchase, refinance, and cash-out transactions.

a larger down payment is usually required for a Foreign National loan, but the percentage will vary depending on the borrower’s specific financial circumstances. Each lender has their own guidelines to determine the LTV requirement.

Benefits of foreign national mortgages

A foreign national mortgage loan offers borrowers unique advantages. Here are some of the key features:

Having the ability to finance second homes and investment properties
Obtain loans of up to $5 million (Lender Specific)
Condominiums without warranties can be financed
Low debt service ratio can be available for investment properties (Lender Specific)
No U.S. FICO is necessary

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