Foreign National Mortgage

4 Replies

Hi Bigger Pockets,

Can you recommend a good foreign national mortgage provider in AZ? My friend from China is thinking to buy one rental property here with some large down payment.

Many thanks!

@Jesse Jin Not 100% sure about Arizona. However many foreign nationals are able to obtain an adjustable, "owner occupied" mortgage for 4 units or less from East West Bank with 40% down. Also helpful because pretty much all bank staff speak Mandarin, Cantonese, and Hokkien. 

Hi Jesse, you may want to check with a portfolio lender.  Not hard money or private money, just portfolio bank/lender that doesn't underwrite loans for sale to the secondary market.  BofI wholesale (formerly Bank of Internet) has a great foreign national program and it's underwritten as a 2nd home (by default, since it's foreign national) .  A mortgage broker signed up with BofI should be able to take care of you.  Last year when I was involved in these loans, there was no Visa, no credit score, no social security number required.  What is required is a valid passport.  Amazing how flexible the FN loan program is.  Good luck

Originally posted by @Jennifer L. :

@Jesse Jin Not 100% sure about Arizona. However many foreign nationals are able to obtain an adjustable, "owner occupied" mortgage for 4 units or less from East West Bank with 40% down. Also helpful because pretty much all bank staff speak Mandarin, Cantonese, and Hokkien. 

 Thank you Jennifer

Thank you for all the information. It seems to be possible.  BTW, how do you transfer money from another country to US? China has rules that one person has $50k limit per year... 

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