Foreign National Mortgages Are Easy To Qualify For In The US
If you're one of many foreign nationals looking to pick up residential properties in the United States dirt cheap you are more than likely going to need a foreign national mortgage to help you purchase those US properties. The good news is that it is fairly easy for a foreign national to get approved for a foreign national mortgage in the US. Lenders will usually only go up to a loan to value of 65% on foreign national mortgages, so you will have to put a large down payment on the property. That means if the home is selling for $200, 000, you would need a $70, 000 down payment. If you have US credit and verifiable work income in the US the loan to value could be higher because you may be able to qualify for a Fannie Mae conventional mortgage although most foreign nationals use the stated income program at 65% LTV. ...
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