Foreign National Loans
Foreign national loans are the topic of the day here in Florida, as there are a ton of great deals in prime vacation spots like the Orlando area and some of the coastal towns.
Problem is, while the idea of foreign national loans is high on the list of “wants and needs” for mortgage borrowers outside the US, finding a lender willing to help out can be a huge challenge. That is why I’m happy to say that we have lenders who will absolutely write foreign national loans!
Foreign National Loans that Work
We provide non US citizens the opportunity to buy a home in the United States with very reasonable terms and rates. With some of the industry’s most flexible conditions, our foreign national loans are the key to helping non-citizen residents put down roots here in our state and become Florida mortgage borrowers!
Increasing Interest in Foreign National Loans
In a 2011 study, the National Association of Realtors showed the increasing popularity of American real estate. According to the report, $1.07 trillion in existing home sales were recorded between the months of March 2010 and March 2011.
Foreign national loans accounted for $82 billion of the $1.07 trillion in US real estate sales – representing an increase from $66 billion the previous year.
Many of these sales came from non-citizens who resided in the United States and were looking to purchase a permanent home.
Experts note American real estate was attractive to these buyers for many of the same reasons it is to citizens – affordable prices and attractive mortgage terms. However, in many ways, foreign nationals’ demand for American homes helped propel domestic real estate markets during difficult times.
The Advantage of working with a trusted Florida Mortgage Lender
Without question, our foreign national loans and terms are among the industry’s most flexible and attractive. Borrowers can:
- Finance up to $650,000 per property or obtain financing for up to 65 percent of a home’s value.
- Slect from 10-, 15-, 20-, 25- and 30-year fixed-rate loans, and a bevy of hybrid adjustable-rate options.
With financing available in some of the nation’s top markets at competitive interest rates and with freedom from pre-payment penalties, our foreign national loans can help non-US citizens realize their own American Dream.
Terms compare favorably to those available to domestic buyers
Our proprietary program offers flexibility and fewer restrictions. The key advantages of our foreign national loans include:
- Borrow up to $650,000 per property
- Fixed rate terms (10, 15, 20, 25 & 30)
- Adjustable rates (5/1, 7/1, 10/1)
- New home loans and refinance
- Debt-to-income ratios are 35%/45% (“Assets for income” option)
- No pre-payment penalties
- Up to 65% loan-to-value financing
- Eligible properties include single-family homes, condos and townhouses
- Second homes okay
- Loans are manually underwritten
- Self-employed okay
- Competitive interest rates
- Available in select markets including Florida and New York
For more information on how I can help you secure one of our foreign national loans, give me a call at the number above. For faster feedback from me, fill out the rate quote form on the sidebar of this page.
I look forward to hearing from you soon!