Foreign Nationals

Mortgage Loans For Foreign Nationals

Portfolio Loans For Foreign Nationals

There are mortgage loan programs for non-U.S. residents. The most popular non-U.S. residents loan program are for non-U.S. residents working for a U.S. Company or subsidiary of a U.S. Company on a temporary work visa.

What Classifies As Foreign Nationals

There are various types of mortgage loan programs for foreign nationals.  Foreign Nationals are non-U.S. Citizens who do not have permanent residency status with the United States Immigration and Naturalization Service.  Foreign Nationals are allowed to invest in properties in the United States, however, financing for Foreign Nationals are limited and somewhat can be challenging.  All Foreign National mortgage loans are portfolio loans.  Portfolio Loans are loans that is funded by lenders that intend on keeping the loan in their books and not sell it on the secondary market. Portfolio Loans are also called non-conforming loans. Non-conforming loans are mortgage loans that do not meet Fannie Mae and Freddie Mac Guidelines and cannot be sold in the secondary market to public and institutional investors.  Portfolio Loans are held by the portfolio lender in their books.

Foreign National Loans

Foreign National Loans are made by investors who plan on keeping the loans they originate in their books and not sell them on the secondary market.  All portfolio loans are normally 30 year adjustable rate mortgages offered via 3/1 ARM, 5/1 ARM, and 7/1 ARM.

Foreign Nationals can qualify for 80% loan to value portfolio loans depending on the property type.  A lower loan to value may be required for higher risk properties.  Documentation requirements for Foreign National mortgage loans are often less than traditional conforming loan programs.

Foreign Nationals and International Investors Loan Programs

  1. Most lenders that offer Foreign Nationals and International Investors Loan Programs typically off mortgage loans of $100,000 to $3,000,000.  Most lenders will require higher down payment requirements on loans over $1,000,000.
  2. Foreign National Loans are non-conforming loans which means that they are cannot be sold on the secondary market and the lender will hold the loan portfolio in house so 30 year fixed rate mortgages are normally not available. Mortgage portfolio loan programs are 30 year adjustable mortgage rates: 3/1 ARM, 5/1 ARM, 7/1 ARM.
  3. Up to 80% loan to value but exceptions can be made to strong credit borrowers with reserves.
  4. Time frame in closing foreign national mortgage loans depends on each individual lender. Most foreign national lenders will close the loans in 30 to 60 days.

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Gustan Cho Associates is a Mortgage & Real Estate Information Resource Center. Gustan Cho Associates does not offer any mortgage loans, however, works with lenders that do. The Gustan Cho Team @ Gustan Cho Associates is a team of mortgage professionals who are experts in FHA, VA, USDA, Conventional, Jumbo, and Non-Conforming Loans.