The great American Dream of homeownership is still alive and well in 2015, and it isn’t reserved exclusively for US Citizens!
Here’s a brief summary of Home Point Financial’s Foreign National & Nonpermanent Resident Alien Home Loan Program guidelines – updated January 2015:
- Owner-occupied, second home & investment properties
- Programs offered:
- 5/1 ARM Fully amortized and Interest-Only
- 7/1 ARM Fully amortized
- 10/1 ARM Fully amortized
- Minimum Loan amount of $300,000
- 60% Loan to value to $2,000,000 (Foreign National)
- 70% Loan to value to $1,000,000 (Resident Alien)
- Maximum loan amounts of $5,000,000
- No FICO Scores required. We require either an international credit report or 4 credit references for 12 months. Credit reports must be translated into English
- 2 months of bank statements, with down payment source seasoned in a verified worldwide banking institution
- Reserve requirements of 12 months including all payments
- Transaction can close in an LLC, however none of the LLC member can be entities organized outside of the US
- You do not need to disclose any properties owned outside of the United States
Please contact us today for complete eligibility requirements and available options.
