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Foreign National Mortgage Program

Foreign National Mortgage Program

Many foreign nationals are showing their interest in investing their money in US real estate. There can be several reasons for their overseas investment. The lower interest rates and easy-to-follow guidelines encourage several overseas buyers to spend their hard earned money in buying vacation homes and rental homes in the US. To have a smooth investment in another country, these people apply for a foreign national mortgage.

No doubt, developed country like the US has a number of mortgage professionals who ensure to help you in handling the foreign national mortgage program. You require finding a professional with years of experience in placing and submitting your mortgage loan application. He/she must be expertise in understanding your all requirements and situation so that he/she can find the most suitable funding source for you.

The range of foreign national mortgage programs allows international buyers to select the one that best fits their needs and existing financial condition. The type of property you are going to buy also has a great role in choosing the right loan program.

Few programs are:

  • 90% financing for foreign nationals
  • 80% financing for foreign nationals
  • 75% financing for foreign nationals
  • 70% financing for foreign nationals

These programs help non-US buyers easier to buy a property in the US. Though the guidelines and documentation of such loan programs are different from traditional loans, they still ensure to meet the varied needs of the foreign nationals.

These programs can be used to buy duplexes, triplexes, 4-plexes, hotels, shopping centers, commercial buildings etc. The programs also allow foreign nationals to finance 10-20 properties depending on the required eligibility for the particular program. Even they can qualify for more than one loan program, no matter what and where they want to buy.

As compared to previous years, down payments of mortgage programs have increased and documentation required for its approval have become stricter, but still real estate market in the US has made no impact on foreign nationals and US citizens as well.

The lenders offering foreign national mortgage program have their certain set of requirements that need to be fulfilled if you are interested in investing outside your country. Your selected lender guides you throughout the loan process. The loan program can also be used to refinance your current home in the country.

Being a foreign national if this is your first investment in the US, you must know the complete procedure and criteria before proceeding further with your decision.

Always keep in mind that rightly chosen foreign national mortgage program and right lender plays a significant role in making the entire process easier, smoother and safer. So, don’t show your laziness and carelessness in spending some time to find the best program provided by the best lender.

The team of LendMe professionals works dedicatedly in simplifying the process for you. Like other clients around the world, you are assured to provide highly satisfied and stress-free mortgage program as per your needs.

Due to the competitive interest rates and easy-to-apply guidelines, the demand of real estate purchase in the US by foreign nationals are hoped to be increased in the coming years.

 

How Foreign National Mortgage Program helps?