A Foreign National Mortgage is tailored to foreign nationals who work and live in foreign countries. These borrowers are looking to purchase a second home or investment properties in the United States. Foreign National Mortgages generally require larger down payments and possibly higher interest rates. These types of mortgages can benefit foreign borrowers looking to invest their capital in the U.S.

There are limited requirements for this product such as no social security number is needed, no U.S. based credit, or proof of residency in the United States. Borrowers can provide income verification by documenting tax forms filed with their home country or an official letter from their accountant. This product is limited to secondary residences or investment properties. It will not be an option for a primary residence.

Foreign National Mortgage guidelines are very different than other mortgages. A foreign national must live and work outside of the United States. They cannot reside in the U.S. The borrower is able to use the properties proposed rental income to qualify or document their personal income from their home country. U.S. credit is not required for this program.

• Identification: A copy of the borrower's unexpired passport will be required as well as a valid Visa to enter the U.S. If a visa is not available, there are additional options.
• Credit Score: No U.S. credit score is required.
• Proof of Employment: While some of our Foreign National products do require full documentation for income from the borrower’s home country, there are other options to document income. The proposed rental income may be used if the property is being purchased as an investment property. If the borrower is self-employed, the income verification could be as simple as a signed, verification letter from the borrower’s CPA.
• Tax Returns: If tax returns are filed in the borrower’s home country, these may be provided to document the income necessary to qualify. The documents will need to be translated into English by a certified translator.
• Other Financial Documentation: Verification of the borrower’s funds will need to be provided and moved to a U.S. based account before closing.
• Down Payment: The amount needed for down payment with the Foreign National Mortgage is a minimum of 25% down. The down payment may be in the form of a gift.

There are other loan requirements depending on circumstance, please reach out to a loan officer for specific loan questions.