Our Foreign National Loan Application is for non-citizen residents who have the qualifications and resources to purchase a home or invest and would like for us to pre-approve their loan amount, quote rates and terms before making a full commitment to move forward with little or no documentation for with quick, easy approval. Non-Citizens Can Buy and Finance Real Estate in the US EasilyIf you are not an American citizen but want to purchase a house here, at Florida Direct Lenders, we can offer foreign national mortgage programs, which work very much like standard U.S. loans -- except that the required down payment is generally larger about 25% However, you may have another alternative. Foreign nationals can also qualify for FHAmortgages. When you indicate on your mortgage application that you hold something other than U.S. citizenship. In this case we will ask to examine additional documentation and determine your residency status.•Lawful permanent resident aliens. If we determine that you enjoy lawful "permanent resident alien" status, the FHA will insure the mortgage under the same terms and conditions as it does for U.S. citizens. This means that we can finance your home in the U.S. with as little 3.5% down, and do not even need to have a credit rating in the U.S. to be eligible. Documents that function as evidence of lawful permanent residency are issued by the Bureau of Citizenship and Immigration Services (BCIS, formerly the Immigration and Naturalization Service) within the Department of Homeland Security. You have to produce these documents when applying for your FHA mortgage.•Non-permanent resident aliens. Those on work assignments in the U.S. can buy homes too. The FHA will insure a mortgage made to a "non-permanent resident alien" if the property will be the your primary residence, you have a valid Social Security number, you have earned a satisfactory two-year credit history, and you can produce an Employment Authorization Document issued by BCIS showing that you are eligible to work in the U.S. If your authorization is set to expire within one year, and a prior history of residency status renewal exists, as direct lenders we are allowed to assume that continuation will be granted. If this is your first year in the U.S. and there are no prior renewals, our underwriters will have to determine the likelihood of renewal based on information from the BCIS.Foreign Nationals Can Have Trouble Coming Up with Credit Scores – No Problem One challenge faced by foreign nationals is the that their American credit history is likely to be minimal. At Florida Direct Lenders, we can work with you even if you have a thin file. We provide guidance on how to construct a credit report from your payment history with utility companies, landlords and any other accounts requiring regular payments. It costs more to get a credit report of this type, but it can make a mortgage and home ownership possible. If you are using non-traditional credit, it's more important for you than for U.S. citizens to be prompt with your telephone, rent and electricity payments -- your mortgage approval may depend on it.
ASK US ABOUT OUR FHA FOREIGN NATIONAL LOAN PROGRAM
WE ARE EXCITED TO PRESENT OUR NEW 80% LTV FOREIGN NATIONAL LOANA Foreign National Loan Program is a special type of loan that helps non citizens buy investment property in the United States. This loan has different requirements from standard Fannie Mae or Freddie Mac loans. The down payment and interest rates are slightly higher 1st Florida Lending offers financing for non-resident aliens through our portfolio product line. Foreign National Loans can be complex so it’s important to work with an experience bi-lingual lender that truly understands how to overseas financial documents and how to analyze foreign credit and alternative trade lines. From application to closing, we will provide the guidance you need and even help you gather the appropriate documentation.Highlights•1 to 4-unit properties •Loans from $150K - $4Mil•Rates start at 4.75%•80% LTV (PURCHASE)•75% LTV (RATE & TERM)•70% LTV (CASH-OUT REFI)•Investment Property - No DSCRoAirbnb - VBR - OKoShort Term Rentals - OKoShort Term Vacation Home - OK•5YR ARM, 7YR ARM, or 30 FixedoInterest Only AvailableoAll terms 30 year fully amortized•3 year prepay (buy-down to no prepay available)•No Income Verified•Foreign Nationals, Perm Resident Aliens and US Citizens All of the above with no DSCR The Debt Service Coverage Ratio (DSCR) measures the ability of a company to use its operating income to repay all its debt obligations, including repayment.
Foreign National Stated Loans20% Down Payment
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing only the State of Florida, offering over 48 loans programs
including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement
Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank
Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA
and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone (800) 655-1345 * (407)
300-2558 * Fax (877) 401-9955We are approved lenders for all Government Loans and registered with the Florida Office of Financial
Regulation - # MLD106When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.