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Foreign Nationals Loans

Loan Programs For Foreign Nationals Home Buyers

This BLOG On Portfolio Mortgage Loan Programs For Foreign Nationals Home Buyers Was UPDATED On January 11th, 2018

Mortgage Loans For Foreign Nationals

Portfolio Loans For Foreign Nationals

The economy in the United States is hot. Since President Donald Trump took office in January 2017, the U.S. Economy has finally dug out of The Great Recession of 2008, which was the longest Recession in the history of the United States.

  • The Dow Jones Industrial Average hit historical highs
  • The housing prices in the United States is increasing with no signs of any corrections
  • Both the Federal Housing Finance Agency (FHFA) and HUD, the parent of FHA, has increased loan limits for two years in the row
  • The FHFA increased conforming loan limits to $453,100
  • The U.S. Department of Housing and Urban Development (HUD) increased FHA Loan Limits to $294,515
  • Reason for these two governmental agencies increased loan limits on conforming and FHA Loans is due to higher housing prices
  • President Donald Trump and Congress cut taxes where corporations are likely to expand and grow
  • There are mortgage loan programs for non-U.S. residents
  • The most popular non-U.S. residents loan program are for non-U.S. residents working for a U.S. Company or subsidiary of a U.S. Company on a temporary work visas

What Classifies As Foreign Nationals

The Gustan Cho Team at USA Mortgage offers portfolio mortgage loan programs for foreign nationals.

There are various types of mortgage loan programs for foreign nationals.

  • Foreign Nationals are non-U.S. Citizens who do not have permanent residency status with the United States Immigration and Naturalization Service
  • Foreign Nationals are allowed to invest in properties in the United States
  • However, financing for Foreign Nationals are limited and somewhat can be challenging
  • All Foreign National mortgage loans are portfolio loans
  • Portfolio Loans are loans that is funded by lenders that intend on keeping the loan in their books and not sell it on the secondary market
  • Portfolio Loans are also called non-conforming loans
  • Non-conforming loans are mortgage loans that do not meet Fannie Mae and Freddie Mac Guidelines and cannot be sold in the secondary market to public and institutional investors
  • Portfolio Loans are held by the portfolio lender in their books

Foreign National Loans

Foreign National Loans are made by investors who plan on keeping the loans they originate in their books and not sell them on the secondary market.  All portfolio loans are normally 30 year adjustable rate mortgages offered via

  • 3/1 ARM
  • 5/1 ARM
  • 7/1 ARM

Foreign Nationals can qualify for 80% loan to value portfolio loans depending on the property type.

  • A lower loan to value may be required for higher risk properties
  • Documentation requirements for Foreign National mortgage loans are often less than traditional conforming loan programs

Foreign Nationals and International Investors Loan Programs

Foreign Nationals can purchase the following types of properties in the U.S.

  • Single Family Homes
  • Town Homes
  • Two to Four Unit Buildings
  • Condominiums
  • Non-Warrantable Condos
  • Condotels

Terms Of Our Mortgage Loan Program For Foreign Nationals

  1. Most lenders that offer Foreign Nationals and International Investors Loan Programs typically off mortgage loans of $100,000 to $3,000,000.
  2.  Most lenders will require higher down payment requirements on loans over $1,000,000
  3. Foreign National Loans are non-conforming loans which means that they are cannot be sold on the secondary market and the lender will hold the loan portfolio in house so 30 year fixed rate mortgages are normally not available
  4. Mortgage portfolio loan programs are 30 year adjustable mortgage rates:
    1. 3/1 ARM
    2. 5/1 ARM
    3. 7/1 ARM.
  5. Up to 80% loan to value but exceptions can be made to strong credit borrowers with reserves
  6. Time frame in closing foreign national mortgage loans depends on each individual lender
  7. Most foreign national lenders will close the loans in 30 to 60 days

The Gustan Cho Team at USA Mortgage is a direct lender with no mortgage overlays on government and conventional mortgage loans. The Gustan Cho Team at USA Mortgage are also correspondent lenders on alternative financing loan programs. We offer portfolio loan programs such as special loan programs for foreign nationals