Non-Permanent Resident Aliens, Foreign Nationals.
Written by on Thursday, June 16th, 2005 in General.
Mortgage Match can assist borrowers who are either non-permanent resident aliens or foreign nationals in obtaining mortgages for the purchase or refinance of U.S. properties. Here are some of the basic guidelines for each…
NON-PERMANENT RESIDENT ALIENS
A minimum time left on the VISA is not required. However, if less than six months remains, the borrower must furnish a letter verifying his or her intent to remain in the U.S., along with a copy of the approved application for extension of the visa. Borrowers in this category must have a 2-year work/credit history along with a social security number.
Borrowers who possess the appropriate credit profiles and ratings may borrow up to 100% of the purchase price on a full doc or stated income basis. With refinancing of existing mortgages, cashout is allowed as well as up to 95% LTV.
FOREIGN NATIONALS
Borrowers in this classification will need a passport, social security number, tax ID number or W-8 form. No Income Verification and Full Doc mortgages up to 80% LTV are offered on second homes and investment properties.
As these can be complicated programs, prospective borrowers in both classifications should consult with a Mortgage Match Senior Loan Consultant to learn more about how they may qualify for mortgage financing, and what special programs are available. Please call toll-free and direct at 1.888.890.5625. Or, to arrange a free phone consultation and discuss your specific situation, click here and complete the fast form.
See also…
Non-Resident Alien Mortgages.