Foreign National Mortgage Loan Programs by The Mortgage Calculator
2 videos • 13 views • by The Mortgage Calculator Get Started at https://themortgagecalculator.com/Mor... Foreign National Mortgage Loan Programs DESIGNED FOR NON-U.S. CITIZENS WHO WANT TO PURCHASE A PROPERTY IN THE UNITED STATES. Foreign National Mortgage Loan Highlights Loan amount: Foreign National Mortgage Loans can offer loan amounts up to $10 million or more, depending on the lender and loan type. Loan terms: Foreign National Mortgage Loans are typically available with loan terms ranging from 15 years to 30 years, allowing borrowers to spread out their repayments over a longer period of time. No U.S. credit history required: Foreign National Mortgage Loans do not require a U.S. credit history, making them accessible to non-U.S. citizens who have not established credit in the U.S. Acceptable sources of income: Foreign National Mortgage Loans may accept a variety of sources of income, including income from foreign employment, rental income, and other sources. Document requirements: Foreign National Mortgage Loans may require documentation of the borrower's personal and financial information, including passport, proof of income, and proof of employment. Down payment: Foreign National Mortgage Loans typically require a down payment of 20% or more, although some lenders may offer loans with lower down payments. Higher interest rates: Foreign National Mortgage Loans may have higher interest rates compared to traditional loans, due to the higher risk associated with lending to foreign nationals. Foreign Nationals can still invest in the USA via a variety of Non-QM financing programs. These programs are typically limited to 75% LTV Max. CURRENT FOREIGN NATIONAL LOAN PROGRAMS Up to 75% LTV Financing Purchases/Rate & Term Refinance (Put 25% or More in Down Payment on Property) Up to 70% LTV Cash Out Refinance Program Types: Full Doc (Verified Income for Borrower) DSCR (Debt Service Coverage Ratio for Rental and Income Properties Qualify Based on the Rental Income Generated from Property NOT the Borrower’s income) Eligible Property Types: Single Family Homes, Condos, Multi Family 2-4 Units, Short Term Rentals Eligible Loan Types: Interest Only, 30 Year Fixed, 5/1 ARM, 7/1 ARM Max Loan Amount: $2,000,000 Reserves Required: 12 Months PITI Assets Seasoned 60 Days Minimum Occupancy: Investment Properties Title: Individual or LLC/Corporation * The principal and interest payment on a $400,000 30-year Fixed-Rate Loan at 7.125% and 80% loan-to-value (LTV) and 760 credit score is $2,695. The Annual Percentage Rate (APR) is 7.350% with estimated finance charge of $9,000. The principal and interest payments, which will continue for 360 months until paid in full, does not include taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 11/2/2023. Subject to borrower approval. Disclosure: All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. The Mortgage Calculator is a registered DBA of Mortgage Calculator Company LLC. NMLS ID #2377459. Programs and rates are subject to change without notice. Mortgage Calculator Company LLC is licensed in the following states that require specific licensing disclosures: AZ (#1040352), CA CFL (60DBO-171188), GA Georgia Residential Mortgage Licensee (#2377459), IL MB.6761755 Illinois Department of Financial and Professional Regulation, Division of Banking, 100 West Randolph, 9th Floor, Chicago, IL 60601 1-888-473-4858. Not licensed or conducting business in New York. For licensing visit: https://themortgagecalculator.com/Pag... For full program info visit: https://themortgagecalculator.com/Pag...