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Foreign National Loan Program Options
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all 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) 401-9955 We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106 When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.
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Foreign National Programs Option 1 - Platinum Program Max 60% LTV / Min Net Loan Amount $ 200,000 / 3/1 ARM / Rate Range in the 4’s Average closing time-lines are 25 to 35 business days Listed below is the documentation required for this program 1. Loan Application 2. Current visa and passport in country of origin 3. Last month’s bank statement from all accounts 4. Last month’s credit card statements of all active accounts 5. If you are an independent employee, a letter signed by a licensed Accountant indicating the entry of the last 2 years of income together with a year-to-date profit and loss including previous years. The accountants letter must be on the accountant’s letterhead including address, telephone number and email address. You must also send a copy of the professional accountant's license in the country of origin. 6. If you are employed, a letter on letterhead of the employer indicating salary, occupation and start date as well as the last proof of payment of your payroll. 7. A letter issued by the US bank indicating the balance to date. Also, you must have enough money to cover the (40% down payment), closing costs and 12 months' reserves. The reserve requirement is not tied to the mortgage itself, but rather provides confirmation that you have alternative funds available to cover the mortgage payment for up to 12 months in the unlikely event of a financial hardship. The reserves can be in your country of origin. The reserves can be in your country of origin. 8. If you have a purchase contract. We require a copy of the deposit check of the contract. If the deposit to buy is transferred via wire transfer, all documents of the wire must be sent and a copy of the bank statement where the money came from. 9. Copies of a water, light or telephone bill with the name of the borrower and current address in their country of origin to evidence of borrower’s current primary residence. Option 2 – Gold Program (Reduced Documentation) (angel oak) Max 75% LTV / Min Net Loan Amount $ 150,000 / 5/1 ARM / Rate Range in the 7’s Average closing time-lines are 35 to 45 business days 1. Loan Application 2. Current visa and passport in country of origin (Eligible Visas B-1, B-2, H-2, H-3, I, J-1, O-2, P1, P2) 3. Last 2 month’s bank statement in country of origin. Funds to close must be sourced and seasoned for 60 days, 30 of which must be in a U.S.A. bank account.. 4. Three 3 trade lines reporting for 24 months with activity in the past 12 months 5. If you are an independent employee, a letter signed by a licensed Accountant indicating the entry of the last 2 years of income together with a year-to-date profit and loss including previous years. The accountants letter must be on the accountant’s letterhead including address, telephone number and email address. You must also send a copy of the professional accountant's license in the country of origin. 6. If you are employed, a letter on letterhead of the employer indicating salary, occupation and start date as well as the last proof of payment of your payroll. 7. If you have a purchase contract. We require a copy of the deposit check of the contract. If the deposit to buy is transferred via wire transfer, all documents of the wire must be sent and a copy of the bank statement where the money came from. 8. Reserves - 12 months plus 2 months for each additional financed property. The reserve requirement is not tied to the mortgage itself, but rather provides confirmation that you have alternative funds available to cover the mortgage payment for up to 12 months in the unlikely event of a financial hardship. The reserves can be in your country of origin. The reserves can be in your country of origin. Option 3 – Silver Plan (No-Income Documentation) Max 75% LTV / Min Loan Amount $ 200,000 / 5/1 ARM / Rate Range in the 7’s Average closing time-lines are 15 to 20 business days With No-Documentation program there are no verification of income to qualify. Only an appraisal, reserves and source of funds to close. Listed below is the limited documentation required for this program 1. No-doc Loan Application 2. Current visa and passport in country of origin 3. Must established a bank statement in the USA for 60 days of more. 4. Proof of Funds required for down payment, closing cost 5. Four 4 months reserves must be in the USA bank. The reserve requirement is not tied to the mortgage itself, but rather provides confirmation that you have alternative funds available to cover the mortgage payment for up to 4 months in the unlikely event of a financial hardship. 6. Purchase contract (if available) DISCLAIMER: THE LIST ABOVE REPRESENT THE BASIC DOCUMENTATION REQUIRED TO START THE LOAN APPROVAL AND ORIGINATION PROCESS. UNDERWRITING MAY REQUEST ADDITIONAL DOCUMENTS AND/OR SUPPORTING DOCUMENTS THAT MAY NOT BE LISTED ABOVE.
Disclaimer: All Loan programs, rates and terms can change without notice and are subject to credit and underwriting approval. Loan charts highlight min/max constraints, assumptions & random scenarios only. We will always work hard to approve your loan but there are no guarantees of any kind expressed or implied that your loan we be approved. © 2007 - 2019 1st Florida Lending Corp. - All rights reserved I Privacy Policy I Terms of Use I

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