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Southern Horizon Financial Group / Types of Loans /

Foreign National



Down Payments

Down payment requirements are usually higher for foreign national borrowers. The minimum down payment is usually 20% of the total purchase price of the property. This is also referred to as an 80% Loan to Value "LTV" loan.Down payment requirements are usually higher for foreign national borrowers. The minimum down payment is usually 20% of the total purchase price of the property. This is also referred to as an 80% Loan to Value "LTV" loan.

Types of Lenders Offering Foreign National Mortgage Loans

The most common type of Bank, Lender or Mortgage company, to offer Foreign National Mortgage loans are those in and around major cities. These lenders are situated where there is a large foreign natinional population base due to high immigration rates. The lenders in new immigration hubs are more likely to have foreign national mortgage loan programs so they can serve their local community.The most common type of Bank, Lender or Mortgage company, to offer Foreign National Mortgage loans are those in and around major cities. These lenders are situated where there is a large foreign natinional population base due to high immigration rates. The lenders in new immigration hubs are more likely to have foreign national mortgage loan programs so they can serve their local community.

Referrals

The best referral source for obtaining a foreign national mortgage loan is a local realtor that works in a location that has a high immigration rate. Some cities that might have a realtor familiar with Foreign National mortgage finance or many Foreign Nationals buying real estate might be Queens, New York, or San Diego, California, etc.The best referral source for obtaining a foreign national mortgage loan is a local realtor that works in a location that has a high immigration rate. Some cities that might have a realtor familiar with Foreign National mortgage finance or many Foreign Nationals buying real estate might be Queens, New York, or San Diego, California, etc.


Foreign National Credit ReportsForeign National Credit Reports

Lenders do prefer a credit report from the home country, although some will take 3 credit reference letters from the borrower. The credit report is much like our own in the U.S. but without scores as their scoring systems are different from our own. There are agencies in the U.S. that obtain the data, conform it to U.S. regulations and provide the background checks (verification of employment, verification of an existence of a company for self employed) and anti-money laundering, anti-terrorism, OFAC and red flag rules...Lenders do prefer a credit report from the home country, although some will take 3 credit reference letters from the borrower. The credit report is much like our own in the U.S. but without scores as their scoring systems are different from our own. There are agencies in the U.S. that obtain the data, conform it to U.S. regulations and provide the background checks (verification of employment, verification of an existence of a company for self employed) and anti-money laundering, anti-terrorism, OFAC and red flag rules...


Office Address

Southern Horizon
Financial Group
511 West Bay Street
Suite 350
Tampa, FL 33606
Southern Horizon Financial Group Office Building

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