Florida has one of the largest numbers of foreign real estate investors in the United States according to the National Association of Realtors Florida. Non-U.S. borrowers can get financing from lenders, banks and other financing organizations.
As a mortgage broker, we have extensive experience helping foreign nationals interested in investing in the United States. We are committed to help you find the right products and programs that will fit with your financial needs in purchasing a vacation home or an investment property in the United States.
Guidelines for Foreign Nationals
For foreign nationals, the guidelines are different because the lender is going to need some type of guarantee that you’ll pay the mortgage and they’ll get their money back.
Some documentation will be required for foreign national loans. Here’s what you need:
- Copy of Passport/Visa
- Letter from Employer that verifies your salary
- Letter from accountant/CPA that verifies your income
- Bank reference letter (if you’re self-employed)
- Bank statement from a U.S. financial institution showing funds available for the down payment and closing costs
Case Study
We recently helped a foreign investor buy a condo in Orlando. The bank was unable to provide financing for a condo because the borrower was holding a passport from Venezuela and the property was considered a non-warrantable condo. The lender did not want to have this type of collateral in its portfolio.
After reviewing the loan package that was denied, we were able to offer the borrower a mortgage and close on the loan in 10 days. The borrower was able to honor his purchase agreement, keep his deposit, and close on the property.
How we can help
We specialize in working with foreign nationals to make sure they are able to secure financing and close in a timely fashion.
If you are a non-U.S. borrower and are interested in buying property, also consider consulting with an attorney and an accountant who have experience assisting foreign nationals in purchasing investment in Florida. They can help you with your reporting and tax requirements.
If you don’t have an attorney or accountant, we can make recommendations.
Venezuelan, Brazilian, Middle Eastern Borrowers are Welcome!
- Second home and investment properties accepted
- Non-Warrantable condos and condo-hotels accepted
- Can close in LLCs and Corps
- H1 and L1 Visas accepted
- Full documentation
- Stated income
- Bank statement
- Asset depletion
- No tax return programs
- Loan amounts up to $3,000,000
- Cash-out up to 65% Loan to Value
- Limited/No credit accepted
