Expatriate Mortgage Loans Lending Guidelines And Requirements


This BLOG On Expatriate Mortgage Loans Lending Guidelines And Requirements Was PUBLISHED On August 9th, 2019

Qualifying For Expatriate Mortgage Loans

Gustan Cho Associates can now help foreign nationals who have jobs in the United States become homeowners. We have multiple Foreign National Loan Programs:

  • For those who are foreign nationals and are here in the United States with a work visa and work for a U.S. company or foreign-based company that has a subsidiary in the United States, they can now qualify for a residential expatriate mortgage loans
  • They can also qualify for condotel or non-warrantable condominiums
  • Expatriate mortgage loan is a mortgage loan program that has been specifically designed for individuals who are entering the United States for the first time
  • Or has been transferred to the United States by their employer and does not have the credit or prior income tax returns

As long as the borrower is working for a U.S. company and plans to reside in the United States in the future, our expatriate mortgage loans can make homeownership possible.

Expatriate Mortgage Loans Qualification Requirements

Expatrite Mortgage Loans

Expatriate mortgage loans are portfolio loans and these mortgage loans are held by the mortgage lender’s own investment portfolio.

FHA, Fannie Mae, Freddie Mac guidelines do not apply on an expatriate mortgage loan.

The following are the expatriate mortgage loan lending guidelines:

  • Minimum Down Payment 20% is required for residential single-family homes and warrantable condominiums
  • Condotel units and non-warrantable condominium units require 25% down payment
  • Mortgage loan amounts up to $1.5 Million is allowed
  •  Valid Work VISA is required to qualify for expatriate mortgage loans
  • No US Credit Required

In this article, we will cover and discuss Expatriate Mortgage Loans Lending Guidelines And Requirements.

Credit Qualification For Expatriate Mortgage Loans

Lenders of expatriate loans realize that foreign nationals will not have credit establish in the United States:

  • Borrowers do not need a credit score nor is any credit required
  • Whether it is traditional credit or non-traditional credit
  • Foreign Assets can be used as Reserves for qualification purposes as long as proper documentation is provided
  • Pre-Approvals allowed on a To Be Determine Address
  • A purchase contract is not required to get a pre-approval
  • Expatriate mortgage loans can be processed and underwritten as a “To Be Determined” subject property
  • This way, the mortgage loan borrower gets a full approval prior to entering into a real estate purchase contract
  • Pricing is based as if the Borrower (s) has a 740 credit score
  • The 740 credit score given to foreign national borrower will be a hypothetical score and just used for qualification purposes

Since the borrower has no credit scores or established credit, all expatriate mortgage loans are given a credit score of 740.

Types Of Properties That Are Eligible

What are the types of eligible properties

Allowable financing on unique properties such as the following available to foreign nationals:

  • Single-family homes
  • 2 to 4 unit residential multi-family homes
  • Warrantable condos
  • Non-Warrantable Condominiums
  • Condo Hotel Units
  • Co-Ops

Terms On Expatriate Mortgages

There are no 30 year fixed rate mortgages on expatriate mortgages. Foreign Nationals can use our Loan Program for Foreign Nationals and once they have stabilized themselves and get their Green Card can refinance it to Conventional and/or Government Loans.

  • Expatriate mortgages are an adjustable-rate mortgage, amortized over 30-year terms

We have the following:

  • 3/1 ARM
  • 5/1 ARM
  • 7/1 ARM 

25% Down Payment No Tax Returns Foreign National Loan Program

what are the 25% Down Payment No Tax Returns Foreign National Loan Program

Gustan Cho Associates Mortgage Group now offers a special Foreign National Loan Program. Here is how it works:

  • 25% down payment
  • No credit scores required
  • No income tax returns
  • Down Payment cannot be gifted
  • Funds need to come from a global bank such as JP Mortgage Chase, Bank of America, etc.
  • A list of global banks can be provided
  • Can close at a foreign country with a U.S. Embassy

Foreign Nationals interested in qualify for our expatriate mortgage program, please contact us at Gustan Cho Associates at 262-716-8151 or text us for a faster response. Or email us at gcho@gustancho.com. We will explore the best mortgage loan program for foreign nationals. We are direct lenders with no mortgage overlays on government and/or conventional loans. Gustan Cho Associates Mortgage Group is also a correspondent lender with many investors.

  1. Theodore Moore says

    I have found a very valuable and helpful blog over here. It is written well and I like the subject matter, thank you. These ideas helps me on what to do on expats mortgage loans. Thanks again!

  2. Theodore Moore says

    This is one of the best article I read. Definitely, I will try these learning when applying for a mortgage with Alex Carlucci of Gustan Cho Associates. Thanks a lot! Massimo Ressa, Mike Gracz, Maria Windham, and Dale Elenteny of Gustan Cho Associates at Loan Cabin Inc. has been very helpful.

Leave A Reply

Your email address will not be published.

Call Now ButtonCALL NOW