Foreign National Loans in San Diego – Part 2

In a recent post I discussed a Foreign National Loan program that allows a loan amount of $650,000 and a Loan to Value up to 65% for a San Diego Purchase Loan.  Today, I want to discuss another Foreign National Loan program that I have access to as a San Diego Mortgage Broker. 

Foreign National Loan Up To $5 Million – San Diego

This Foreign National Loan program is available in San Diego and allows loans from $400,000 up to $5 Million.  It has a maximum 50% Loan to Value, but if the borrower has U.S. based assets they can use an available Pledged Asset feature to get to a 75% LTV.  In addition, if the assets are with the lender offering this program, the Loan to Value can go up to 90%.  To learn more about the Pledged Asset Loan Program click on this link to my past post on it.

Additional Benefits – Foreign National Loan – San Diego

Other benefits of this Foreign National Loan program are that it allows for the borrower to have no Green Card or VISA.  It also does not require a FICO score, but would require four credit references (letters from banks in the borrower’s home country with whom they have had business relationships) or four letters of reference from international banking organizations i.e. Barclays, HSBC, etc.  An interest only payment option is also available with this Foreign National Loan.

Another benefit to this Foreign National Loan is it is not necessary for the borrower to have U.S. tax returns.  Tax return documents from the borrower’s country of origin with a CPA letter or equivalent in English explaining the return and converting local currency into dollars is acceptable.  The borrower applying for the Foreign National Loan must have a valid Social Security Number or Tax Identification Number (TIN) which can easily be acquired through a CPA.  The borrower will also need a Passport with a second form of photo ID.

There are not many San Diego Mortgage Brokers and Bankers who have access to two types of Foreign National Loans in addition to all the other programs we have available.  If you have any questions on this Foreign National Loan program or any others, please feel free to call or email me.

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