Foreign National Loan (Also Referred To As Foreign Investor Loans)
This mortgage product is designed to help foreign nationals wanting to purchase or refinance a vacation or investment property in the United States. Borrowers must be able to document proof of residency, employment and income in their home country. A foreign national is considered to have no visa status (other than a visitors visa), no social security and no credit in USA.
| Loan Amounts | Up to $4,000,000 ($10,000,000) on a case by case) |
| Loan-to-Value (LTV) | 75% (up to $1,000,000) 70% up to $3,000,000 |
| Property Types | Single family, 1-4 units, condo (both warrantable and non), condohotel (selectively), PUD and townhomes, |
| Credit Score | Not required (if exists 680 min) |
| Income Verification | 2 income verification options exist: 1. verification of personal income from home country or 2. No personal income requirement |
| Prepayment Penalty | Most loan options have a prepayment penalty feature. Prepayment terms generally last between 1- 5 years. |
| Reserves Required | Reserves required – typical lender reserve requirements range between 2 – 12 months interest reserves |