Foreign national loan
No credit no income needed
This mortgage product is for foreign nationals wanting to purchase or refinance a home in the United States. This is a DSCR program with a 1:1 ratio on cash flow. This means that this loan is incredibly easy to do – no income or U.S. credit required to qualify.
- Minimum loan amount of $75,000
- Maximum loan amount of $1.5 million
- A DSCR program with a 1:1 ratio in cash flow
- Assets sourced and seasoned for 60 days – must be in a U.S. FDIC-insured bank for a minimum of 30 days
- 12 months of reserves are required and must be in a U.S. bank
- ACH auto-payment is required
- No sanction-listed countries are allowed and will not lend in Osceola County
- Cannot reside in the United States
- Must have an eligible Visa: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2
- No gift funds allowed
- For loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained
A Foreign National mortgage loan is a loan done for a borrower that has one of the following visa: B-1, B-2,H-2,H-3, I, J-1, J-2, O-2, P-1, P-2 or resides in a Visa waiver country. Borrower must live and work in foreign country, cannot live or work in the US. The borrower qualifies under our ICF/DSCR program and qualifies just on how the property cash flows. The foreign national program includes non-owner occupied residences only. Purchase, refinance and cash out transactions.
Yes, the Foreign National mortgage guidelines and requirements are different. A foreign national must live and work outside the U.S. and cannot reside in the U.S. A few additional requirements for the foreign national mortgage loan is that the maximum LTV IS 70%, 12 months reserves are required, 30-year fixed mortgage only, loan amounts up to $1,500,000 with a minimum of $75,000 offered and seller concessions are up to 3% only. ACH is required from a FDIC Bank for a monthly mortgage