Foreign National Loans

Our Foreign National product offers borrowers who live outside the United States flexibility when purchasing or refinancing. This loan falls under our debt service coverage ratio product which means qualification is based on cash flow of the property instead of income. Our Foreign National loan is easy to do and quick to close for those who are eligible.

Key Facts About Loan:

- Certain documentation isn’t required
- Ability to finance second homes and investment properties
- Secure loans up to $5 million
- No U.S. FICO required

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Foreign National Loan

LOAN PURPOSE

Investment / Primary Residence

BORROWER TYPE

Individual or Entity (Single Purpose Entity)

PROPERTY OR UNIT ACQUISITION MINIMUM

1 Property per loan

TERM

30 Year Fixed

INTEREST RATE

Call for quote

EXPERIENCE

First time homebuyers

MINIMUM FICO

No FICO score needed

MAXIMUM LOAN TO VALUE (LTV)

Up to 70% on purchase and rate & term.

MINIMUM LOAN AMOUNT

$5 MM

VACANCY MAXIMUM

Any vacancy requires a max LTV of 60% on refinance

SEASONING REQUIREMENT (TO USE VALUE VS. COST BASIS)

90 Days

PROPERTY TYPE

Non-Owner Occupied:
- Single Family Residences (SFR)
- Condos
- Townhomes

FAQ's on Fix and Flips

Foreign

What Is A Foreign National Mortgage Loan?

A Foreign National mortgage loan, also known as a foreign national loan or non-permanent resident alien loan helps non-residents of the United States purchase real estate here in the United States. The foreign national program includes primary residences and/or vacation properties available to those who classify as resident aliens, achieve temporary status or permanent status, and typically have different requirements and interest rates than a standard Fannie Mae or FHA loan.

Do Foreign National Mortgage Loans Have Different Requirements?

Yes, the Foreign National mortgage guidelines and requirements are different. A foreign national must live and work outside the U.S. and cannot reside in the U.S. A few additional requirements for the foreign national mortgage loan are that the maximum LTV is between 70% to 80%.

Do Foreign National Loans Require A Higher Down Payment?

Yes, it is possible that a larger down payment is required for a Foreign National loan, but the percentage will vary depending on the borrower’s specific financial circumstances.

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832 301 6541

info@prosperityef.com

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Figure: 7 TAC § 80.200(b) CONSUMER WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
PROSPERITY FUNDING, LLC. NMLS: 1868681