Bellow, we are including information on loan requirements and closing cost. Closing cost is required for all loans originated in the United States. It can be nagotiated for the seller to pay for it. Following documents are needed for the 70% LTV Foreign National Mortgage:

Ø Executive summary.

Ø Brokers fee sheet.

Ø Copy of Visa or Passport.

Ø Personal Resume.

Ø Typed 1003 & 1008

Ø Two letters of banking reference with English translations. The banking relationships must have been in existence for at least two years. The letters must come from a U.S. bank.

Ø Credit report if borrower has a social security number or credit in the USA.

Ø Verification of funds sufficient to complete transaction plus 6 months of reserves in the USA or outside the country. Two months of bank statements, VOD or letter from Banking Institution.

Ø A letter from an independent CPA from the borrower’s country of origin is required. The letter must be on the CPA’s letterhead with address, phone number, license number and a copy of license (if applicable). The letter must reflect the applicant’s current income together with their income for the previous 2-years, in US dollars, their percentage of owner ownership and type of business. A letter from the borrower’s employer can take the place of the CPA letter if not self-employed.

Ø Escrow Letter.

Ø Contract.

Ø Appraisal report.

Ø Copy appraiser’s license.

Ø All signed original disclosures.

v Only US corporations, Trust and LLC’s allowed.

v Articles of Incorporation, By-laws and corporation resolution authorizing the guarantor to sign on behalf of the LLC.

v Trust Agreement and resolution authorizing the guarantor to sign on behalf of the trust.

v Articles of Organization for the LLC and resolution authorizing the guarantor to sign on behalf of the LLC.