Non-Canadian Foreign Borrowers

Foreign National Mortgage

Obtaining a mortgage in a foreign country may seem like a challenging task. At Florida Home Finders, we specialize in simplifying the mortgage process for Foreign Nationals looking to purchase homes in the United States. With the expertise of a seasoned mortgage broker guiding you through each step, we’ve successfully aided over a thousand individuals in securing their mortgages. We’re equipped to assess your financial qualifications and efficiently connect you with the most suitable lender for your needs.

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What to Expect When You’re Applying for a Mortgage

What can a foreign national finance in Florida?

  • Single Family Home purchase
  • Multi Family purchase (1 – 4 unit multifamily property loans are offered in specific zones)
  • Condominium purchase
  • New Construction
  • Refinancing (redemption of an existing loan)
  • House/Condominium: “Cash-out”-Refinancing

How long can a fixed interest rate-period be for foreign national?

  • In most cases, Foreign Nationals are offered an ARM, Adjustable-Rate Mortgage. This means that you will receive a fixed rate of 1, 3, 5, 7, 10 years depending on the program.
  • There are limited programs that also offer a 15-year or a 30-year fixed rate.

What type of documents does a foreign national need for financing in Florida?

  • Proof of income (written declaration from your accountant or employer and pay stubs)
  • Credit report from home country (if possible)
  • Proof of sufficient assets for down payment, closing costs, and reserves ( i.e. 2-3 months bank statements- must verify large deposits)
  • 3 references from either local banks or car loan companies, or credit card companies
  • Some banks require tax returns from home country

Do you, a foreign national, have to be present in the USA to close on your new property?

  • Many lenders do not compel you to be present within the USA at any point in the process.
  • From credit application to closing, the entire process can be done over the phone/fax/or by courier. However, some lenders do require an in-person interview.
  • Many lenders will require closing documents to be signed by a US Notary either in the US or at the US Embassy within your country.

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