1. Who is considered a Foreign National Buyer?

A citizen or legal resident of a nation other then US, buying property in the US, is considered a Foreign National Buyer.

2. What type of properties can a foreign national purchase in the US?

Second or vacation home, investment and commercial properties can be purchased by a foreign nationals.

3. What types of loans are available to the international borrower and under what terms?

Fixed and adjustable rate residential and commercial loans are available. Terms are 10, 15 or 30 years fully amortized or interest only loans.

4. How much down payment is required?

As little as 10% down payment are possible. However, at the present time 30% down payments is the minimum. 

5. What are the interest rates available to foreigners applying for a loan in the US?

Historically low interest rates in the range of 5.75% to 7.75% are available.

6. What are the costs involved for an international buyer to obtain mortgage in the US?

Closing cost is the same for US citizens and international buyers. They are approximately 3% of the purchase price.

7. How long does it take to obtain a foreign national mortgage in the US?

Approximately 4 to 6 weeks is needed to obtain and close the loan.

8. What type of documentation is required to get approved for the loan?

Full doc – Available. Foreign National Borrowers must derive their income from another Country, and their income must be verified via our U. S. Quality Control Procedures.
Stated Doc – Available. Foreign National Borrowers accountant or employer must state borrowers income in writing.
No Ratio - N/A
No Income / No Asset (Nina): N/A
No Doc: N/A

9. Does foreign national borrower must be present in the US at the closing?

No. Transaction can be closed thru POW (power of attorney) where the borrower designates someone else to close for him.

10. Can a person with a US work visa qualify as a foreign national borrower?

Yes. Borrowers with (A, All of E, F 1, All of G, All H (except H4), All of I, All of J, K1, K3, All of L, M1, NATO, All of 0, All of P, All of Q, R1, S5, S6, All of T, All of U, V1) type of visas maybe able to qualify under foreign national guidelines.