Foreign National Loans:
Foreign national loans are a great idea if you don't have a social security number, a credit score, or credit history, have no verifiable U.S.-based income, or have no way to verify down payment.
Down payments for foreign nationals are usually higher. The minimum down payment is 30% of the total purchase price.
What is a foreign national loan?
The mortgage industry defines a foreign national as anyone who is not a U.S. citizen and is not permanently living in the United States.
You must be a resident of another country and live and work there to be eligible for a foreign national loan. Green card holders, often known as permanent residents, are not considered foreign nationals.
The following documents are often requested for a loan:
A Foreign loan application
Copy of Identification, passport, or Driver’s license
Resume or Curriculum
Proof of Address
Employed
Last two yrs of personal tax returns
Last two pay stubs
Name, phone, and email of employer
Copy of last 3 months of bank statements
Self- Employed
Last two yrs of personal tax returns
YTD personal financial statements
Last 2 yrs of business tax returns
YTD business financial statements