FHA and Investor Specialist

Foreign National Loan: One reason the United States real estate market has declined is because there is not a large enough pool of buyers to purchase homes currently on the market.  One great way to increase the pool of buyers is to increase the availability of Foreign National Loans in the housing market.  With home values off of their peak prices by a substantial sum, there is great interest from residents of foreign countries to purchase real estate in the US.  The value of the dollar relative to other foreign currencies also makes it an attractive time for Foreign Nationals to purchase properties at a discounted value. 

The main issue is that there are limited Foreign National Loan programs available for a purchase, or refinance for that matter.  Some Foreign Nationals could also take some equity out of an existing US property they own to purchase another property.  The difficulty in obtaining financing is because there is usually no US established credit, no US tax returns and/or w-2's, and assets may be in a foreign currency.  Many FN's have had to purchase properties outright or seek less than desirable private or hard money financing in order to own a home in the US.  The good news is that now there is a program I can refer to my Foreign National clients.  Feel free to contact me to refer you to a foreign national financing specialist.

One of my referral partners has Foreign National Loan programs available at the below loan-to-values in the listed states. Please contact me for more information on this program and to get you started with financing.  (This is not a Chase program.)  Other states may be available on a case by case basis. A loan to value is calculated by dividing the lower of the purchase price or appraised value (Value) by the loan amount.  For example, a home being purchased for $500,000, with an appraised value of $525,000, and a loan amount of $300,000; would have a loan to value of 60%.

Here is a quick snapshot of the current lending parameters by state:

California - Max 70% LTV
Colorado - Max 70% LTV
Connecticut - Max 60% LTV Metro New York Area
Florida - Max 70% LTV
Hawaii- Max 60% LTV
Nevada - Max 50% LTV
New Jersey - Max 60% LTV Metro New York Area
New York - Max 60% LTV
Washington State- Max 60% LTV
Oregon - Max 70% LTV

Other states may be available on a case by case basis.  Please review the amount of down payment required and the down payment amounts you have prior to looking at homes.  Other guidelines may apply to qualify for financing, including income documentation.  Minimum loan amount 100k.

These loans are available for purchases, refinances, and cash-out refinances.  Documentation requirements may vary on each program and the rates are much better than hard money or private money rates.  This Foreign National Loan program is designed for those living abroad and looking to purchase a true second home or investment property in the US.  It is not designed for those currently living in the US without proper documentation.  Please contact me for details.