Foreign National Financing...it does exist!

Foreign National Financing...it does exist!

I have recently had many Realtors and foreign investors ask about financing for Foreign Nationals..."does this type of lending still exist"? The answer is YES! However guidelines differ dramatically depending on the bank or lending institution. We have several senior level private banking relationships who will lend to Foreign Nationals with fairly reasonable lending guidelines. The following is a snapshot of what we have found and what is required.

Foreign Nationals Guidelines

Foreign Nationals financing up to 65% LTV, higher case by case. Passport needed at min. Conventional financing requires US bank account and in some cases US employment (L1). Private money only US passport required case by case.

â— States: CA, GA, MA, NJ, NY, TX and WA
â— Inv & NOO: 6 mo, 3/1, 5/1, 7/1
â— 60% LTV w/o US Credit
â— Residential: SFR, Condo, PUD & 1- 4 Unit Only
â— Valid visa and passport at time of application
â— Min 18 months verifiable PITI reserves at close

â— States: CT, DE, FL, MA, NH, NY, PA and RI
â— 60% LTV w/ US Credit 685 FICO; 50% LTV w/o Credit
â— Purchase, R/T Refinance (no C/O)
â— 3/1 or 5/1; Loan Amounts to $2M
â— 1-2 Unit, Condo, Co-Op (NY Only)
â— Visa and passport at time of application
â— FL property less 15% from above LTVs; 40% LTV floor

Foreign National Financing is available in additional States (Case by Case). Guidelines are similar to the above however a banking relationship may be needed in the country of origin.

More information can be found on our website: http://www.finance1online.com