2 min read
What are the Down Payments for Foreign National Mortgage Loans?
This article discusses the down payments required across the spectrum of loans used by non-U.S. citizens to finance residential real estate in the...
1 min read
Ted Spradlin : Jun 12, 2023 4:00:00 AM
Navigating mortgage loans is often complex, especially for non-U.S. citizens hoping to invest in U.S. property. This article outlines the ways a foreign national loan differs from a traditional mortgage — including documentation, credit history, down payments, interest rates and loan terms. Whether you're a foreign national planning to buy U.S. real estate, or simply want to brush up on this topic, find out what distinguishes the two types.
There are several differences between foreign national loans and traditional mortgages, including:
The differences between foreign national loans and traditional mortgages are in the underwriting requirements, pricing and terms. Foreign national borrowers must provide more citizenship documentation, work and employment paperwork, and some proof of credit history. Additionally, these loans have about 1.00% higher interest rates than those for a U.S. citizen, and may have shorter terms for bank portfolio loans.
2 min read
This article discusses the down payments required across the spectrum of loans used by non-U.S. citizens to finance residential real estate in the...
2 min read
Interest rates on a foreign national mortgage depend on a number of factors, including the lender, the type of loan, the borrower’s credit score (or...
5 min read
First Capital Trust Deeds (FCTD) specializes in mortgages for real estate investors and has originated many foreign national investment property...