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100
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David N.
  • Lender
  • Elmhurst, IL
24
Votes |
100
Posts

Foreign National Rental Loans

David N.
  • Lender
  • Elmhurst, IL
Posted Mar 19 2019, 13:57

Foreign National Rental Loans

  • Property Types: Residential 1-30 Units
  • Term: 30 yr. Fixed or 5/1 ARM
  • Rates: as low as 6.5%
  • PurchaseMax: 65% LTV
  • Cash Out RefinanceMax: 60% LTV
  • Occupancy: Non-Owner Occupied
  • Prepayment: 3 year
  • Seasoning Requirements: Call for details
  • Debt Service Coverage Ratio: 1x
  • Appraisal Required: Yes
  • Max Loan Amount: $1.5M
  • Min Loan Amount: $60K
  • Min Credit Score: 620
  • Foreign National Additional Requirements

  • Must have all funds used in the transaction in a U.S. banking institution
  • Must have a valid U.S. Visa (if not subject to Visa waiver program)
  • Must have a valid passport from country of origin
  • Must have 12 months PITI(A) in reserve for outstanding mortgage debt
  • Offering