Foreign National Rental Loans

[David N.]

Foreign National Rental Loans

Property Types: Residential 1-30 Units

Term: 30 yr. Fixed or 5/1 ARM

Rates: as low as 6.5%

PurchaseMax: 65% LTV

Cash Out RefinanceMax: 60% LTV

Occupancy: Non-Owner Occupied

Prepayment: 3 year

Seasoning Requirements: Call for details

Debt Service Coverage Ratio: 1x

Appraisal Required: Yes

Max Loan Amount: $1.5M

Min Loan Amount: $60K

Min Credit Score: 620

Foreign National Additional Requirements

Must have all funds used in the transaction in a U.S. banking institution

Must have a valid U.S. Visa (if not subject to Visa waiver program)

Must have a valid passport from country of origin

Must have 12 months PITI(A) in reserve for outstanding mortgage debt