Foreign National Home Loans

Here’s what we need to do a Pre-Approval:

A letter (on company letterhead) from a professional based in the borrower’s country of residence – Accountant/CPA/Financial Institution Officer/ Licensed Financial Advisor verifying: The nature of the business, income figures for the last 2 years, and a year-to-date income figure.

Validation of the existence of the business must include: Internet Web page address, or business and/or operator license from a governmental office

A letter on company letterhead from an authorized representative the employer stating employment history (position/title, time on job), current monthly salary and year-to-date earnings.

A valid pay stub/ pay ledger or financial institution deposit/ transaction record that supports the employment

• Single Family (Detached, Semi Detached, Attached)
• PUD (Detached, Attached)
• Condominium- Warrantable
• Condominium- Non-Warrantable, including Condotels.

Must have a valid Passport and Visa to enter the U.S.

Borrowers who are residents of countries which participate in the State Departments Visa Waiver Program will not be required to provide a valid visa.

Must have a copy of their last 4 months bank statements. Statements must be translated into English language and must be shown in U.S. currency.

If no foreign credit report is available, the following is required:

2 credit reference letters written in English

Can include non-traditional credit sources, i.e. utility company

bank reference letter written in English

Title can vested in borrower(s) name, including LLC with personal guarantee.

Funds required for down payment and closing costs must be held in a U.S. bank

Cash-Out and Debt Consolidation not permitted

For Rate/Term Refinances, existing loan must be with a U.S. financial institution

Limited Power of Attorney (POA) is acceptable for executing closing documents

Business accounts are eligible for reserves, and reserves can remain at a financial institution in borrower’s home country