As a San Diego Mortgage Broker and Banker located in a city near the US border and known around the world for its great weather, I receive a number of inquiries about loans for Foreign Nationals. Foreign National Loans are hard to come by, but we now have 2 sources who offer them. Yet again, another benefit of being a San Diego Mortgage Broker and not just a lender.
Today I am going to discuss a Foreign National Loan that allows a loan amount up to $65o,000. This program allows a Foreign National to purchase a home in San Diego with a loan to value up to 65% or refinance a primary residence with a 55% loan to value ratio. This Foreign National Loan allows debt to income ratios of 45% and requires 24 months liquid reserves with at least 12 months held in a US Bank. The borrower’s assets must be seasoned for at least 90 days and all income documentation must be translated into English by a certified translator. Interest only options are also available. The borrower must also have a valid US passport or Visa to qualify for this Foreign National Loan.
If you are a foreign national looking to buy a home in San Diego or if you are a Realtor and have clients who could use a Foreign National Loan program please give me a call at 619-312-0612 for more details or submit for a free quick quote.