Lowest Down Payment Option For Foreign Nationals

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
San Diego, California
There are many options in the industry today for foreign nationals. After doing extensive research on this type of loan I have found that one product stands out among the rest and that is what we will be talking about today.

Most Foreign National programs require typically 50% down and must be second homes or non-owner occupied properties. You’ll find that most lenders will offer this program as they broker it through a company called Advancial through their wholesale division. This is NOT the program that we will be talking about today.

First let’s talk about what a foreign national is? A foreign national is a person who is not a citizen of the country in which he or she is residing or staying temporarily. For Example, someone residing in the United States but is neither a citizen nor permanent resident.

Here are some key details of the new foreign national program:
  • Down Payment of only 30% required (Max LTV 70%)
  • Up to two U.S. financed properties allowed (most do not allow any US owned properties)
  • Second Home and Investment Properties allowed
  • Non-Warrantable Condo’s including Condotels
  • No domestic FICO score required, FICO 680 if available
  • 5/1 ARM and 30 Year Fixed program options
  • Purchase Money and Rate & Term Refinances available
  • Minimum Loan of 200K, Max loan of 2M
  • DTI flexible up to 43%
  • No Pre-Payment Penalties
The two biggest items that stand out in the above qualifications are: 30% down payment required and you also may own up to 2 US Financed properties. This is a hurdle that most lenders are unable to overcome in a foreign national program.

The program makes buying a second home or investment property much easier for qualified non-U.S. citizens who visit the country on business or vacation. This unique product offers borrowers who can demonstrate the ability to repay fewer qualifying restrictions.

If you would like to apply for this loan – CLICK HERE TO APPLY ONLINE or feel free to call our staff at 800-779-4547.
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