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Foreign National Loans
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Foreign National LoansDaniel Dobbs2018-09-21T12:47:36-07:00
California is the country’s leader for immigration, job growth and technology; now there are more lenders willing to lend to foreign nationals wishing to buy a home as they are working on the visa / citizenship status!
Only recently have I begun to see an emergence of bona fide (well capitalized lenders who actually have legit “portfolio” products for these type of buyers!
Although it only a “niche” for agents and MLOs to market, this availability can be the difference of a couple paychecks a year!
Here’s the basic details:
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Rates from 7.5% -9.5%
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Length of loan between 18-36 months depending on LTV
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30% down payment on investment property purchases
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Stated Income, Stated Asset Loan
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No US Credit Required (must have tax ID number)
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No SSN Required, TIN Required if no SSN
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No DTI Ratio Requirements
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No Financials Needed
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Gift Funds OK
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No Seasoning Required
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No Debt Service Coverage Ratios