Non
U.S. Citizen Homeownership Made Easy!
Whether
you're a citzen of a non-United States country seeking to purchase
a property, or a year-round resident with a temporary or recurring
work visa. We are proud to offer up to 80% financing on your purchase.
Start here by getting preapproved, we'll then issue a letter of
preapproval for your Realtor (or we can suggest one), and start
writing offers until you find a property you're happy with.
At the
close of escrow (typically 30 days), you'll be the proud owner
of your own U.S. residence. |
"Full Documentation"
requires the two most recent paystubs, last two years taxes, and
two month's bank statements. Additional debt ratio calculations
apply, the most basic of which allows your total house payment (including
principal, interest, taxes, and insurance) to not exceed 45% of
your gross income.
"Stated Documentation"
means we accept the numbers as stated (e.g. unproven), and thus
is higher risk (higher interest rate). |
|
Required
Down Payment |
Maximum
Loan Amount |
| Full |
20% |
$400,000 U.S. |
| 25% |
$450,000 U.S. |
| 30% |
$650,000 U.S. |
 |
| Stated |
25% |
$350,000 U.S. |
| 35% |
$500,000 U.S. |
| 45% |
$650,000 U.S. |
|
This program is for
Single Family homes, condos, etc., and the program is intended for people
using the property as a 1st or 2nd home. Multi-unit property such as 2-4
units are not permitted, although 5+ units is considered "commercial"
financing and is eligible. Six month's worth of house payments are required
to be in a U.S. bank account at close of escrow. Borrowers with diplomatic
immunity are ineligible. If no U.S. credit score is available, an original
letter of credit OR 3 credit references must be obtained from the borrower's
home country. If the borrower does not have a social security or tax ID
number, a copy of IRS form W-8BEN (Certificate of Foreign Status (click
here)) must be provided.
Shopping
Resources:
XE.com
Personal Currency Assistant - Will pop open a small currency converter to simplfy prices.
www.ZipRealty.com - great online property search website.
www.TheMLS.com - Hit "Guest" to access the Los Angeles area Multiple Listing
Service.
|
Equal Housing Opportunity Provider