Primary Homes - Second Homes

A Foreign National is defined as a citizen of another country who visits the U.S., and is buying a home as a second home or Investment property.

TYPICAL LOAN PROGRAMS

20%, 25% and 30% down payment programs available. In some cases, 10% programs exist.
Possibility to purchase under a U.S. Corporation or Offshore corporation.
Programs available for 15 and 30-year fixed and ARMs.
Primary Homes, Second Homes and Investment property programs are available.
STATED - No-income verification – income is not verified but employment verification is required.


DOCUMENTATION REQUIRED FROM BORROWER

Signed Application and Disclosures – Broker to provide
Employment Verification – CPA Letter confirming employment for two years.
Asset verification – Need prior three months bank statements from foreign or local bank verifying reserves for down payment and six months of mortgage payments [or VOD (Verification of Deposit) to replace bank statements – Broker provides this form.]
•  3 letters of credit reference from businesses with whom you currently hold credit.
•  Copy of Valid Passport
•  Copy of Purchase Contract
•  Certified Appraisal