A foreign national is a legal resident or citizen of another nation. A mortgage to a non U.S. resident is called Foreign National Mortgage. Foreign nationals primarily have income, employment, credit and residency in a country other than the U.S. They buy a primary or a second home here in the U.S. for personal use. At Katy Mortgage, we work with several national lenders who provide financing to foreign nationals. Please contact us for the details.
Want to buy a home in the United States, but you're not a US Citizen?
No problem, Our Foreign National Loan Program makes buying a home in the US easier for non-US citizens. While the guidelines on these loans are different than conventional, conforming or other federally insured loan programs, we are confident that our loan program can meet your needs.
Here are some of the key details:
- Our Foreign National Loan program offers competitive interest rates.
- You can borrow up to $750,000 per property (minimum amount borrowed is $100,000).
- Multiple Fixed rate terms to choose from (10, 15, 20, 25 & 30).
- Multiple Adjustable rate terms available as well (5/1, 7/1, 10/1).
- You can use our Foreign National Loan Program to Purchase a New home or refinance your current home.
- Debt-to-income ratios are 50% ("Assets for income" option).
- No pre-payment penalties.
- We can finance up to 75% loan-to-value (if the home is worth $500,000 then we can lend up to $375,000).
- This program is eligible for multiple property types including: single-family homes, condos and townhouses.
- All Loans are manually underwritten.
- The Foreign National Loan Program is available to Self-employed foreign national borrowers as well.
- Some seller concessions are allowed (Max 6% up to 65% LTV)
- Escrows: Taxes and insurance escrows are required
