Foreign National Loan
The foreign national loan is a unique product that allows foreign buyers or citizens of another country to purchase property in Florida. This type of loan provides an excellent opportunity to buy a vacation home such as a condo or investment property.
Our seasoned Lenders understand the South Florida Market and can match mortgage loans to fit your needs. It is essential that you work with a qualified mortgage professional, who is able to asses your financial needs and provide solutions to you.
A minimal amount of loan documentation is needed, and your loan can be as high as 75% loan to value (LTV), whether the loan is for a single family property or a condo depending on the location.
| Loan Amount | SFR | Condo | Credit Score | Reserves |
| $750,000 | 75% | 75% | N/A | 12 Month |
| $1,000,000 | 70% | 65% | N/A | 12 Month |
| $5,000,000 | 60% | 60% | N/A | 6 – 12 Month |
Property Type:
- SFR, PUD, Town Homes Condo Hotels and High Rise Condos
Income Docs:
- If you are self –employed, you will be required to provide two years of income verification from your CPA as well as Year to Date (YTD) figures.
- If you are an employee of a company, you must provide proof of employment for the past two years and Year to Date (YTD) figures.
Assets:
- Two Month Bank Statements ( All large deposits must be sourced )
- You must have a U.S. based bank account that contains the funds necessary to close on your transaction. These funds would include the down payment, cash needed to close on your property and any reserves that may be needed. It is preferred that your account is opened and contains these funds before closing.
Credit:
- Two Bank Reference letters with relationship no less than 2 years. Must reference a “Good Standing”.
Please download the Foreign National Required Documents
This is not a commitment to lend, each applicant and borrower must be approved by the lender or investor. All terms and rates are subject to change with out notice. Please call our office to get pre-qualified.