Home Buying in California>Question Details

noname78, Home Buyer in

Hi, I'm interested in buying a property in Southern California. Can somebody advise me a foreign national mortgage lender?

Asked by noname78, Fri Feb 1, 2013

Help the community by answering this question:


Obtaining a loan for a Foreign National, Non-Permanent Resident Alien (NPRA), or Permanent Resident Alien (PRA) is not much different than doing a loan for a US Citizen. We require credible documentation for 2 yrs + YTD Income, credit report or alternative credit to demonstrate ‘A’ quality credit worthiness, and seasoned funds in a known financial institution. (Translation of documents may be necessary if the originals are not in English.)

Foreign Nationals:
The borrower has no Green Card and no VISA.
No Credit required…four credit references required – alternate credit from country of origin is okay…international credit reports are also acceptable.

We require 2-years income verification history but it is not necessary to have U.S. tax returns…Tax documents from country of origin are okay. If the country of origin does not require the borrower to file the equivalent of tax returns, then we need an employment letter on company letter head explaining compensation. If the employment letter is in a language other than English we need to get a statement from a tax preparer or equivalent that can provide evidence of the borrower’s credentials by translating the documents…it must be on letterhead so that we can verify the company through 3rd party sources.

We must source seasoned assets in a known verifiable worldwide financial institution (i.e., Credit Suisse, HSBC, UBS, Bank of Tokyo)…the funds may not be in an Institution which cannot be verified. The main reason for sourcing the income and assets is for OFAC (Office of Foreign Assets Control) which monitors foreign countries, regimes, known terrorists, etc.

The Borrower must have a Social Security Number or Tax Identification Number (TIN) which can be easily be acquired through an Accountant/CPA or visit the IRS website that explains what and how to get a TIN. As long as the borrower has applied for the TIN, we can proceed….
Passport and second form of ID required.
Power of Attorney (POA) is not allowed. The borrower, if not present in the US, will have to go to an American Consulate to sign and have loan documents notarized.

Feel free to call

Thierry Abel
Senior Loan Consultant
All California Mortgage
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
NMLS 304353 - DRE 01380701
0 votes Thank Flag Link Fri Feb 1, 2013

We have programs that will permit foreign nationals as borrowers. There are specific requirements we need to meet but I would be happy to explain these to you before you begin the process so that you can determine if they are a good fit and so that we'll be certain you'll qualify should you decide to proceed.

Rob Spinosa
RPM Mortgage
0 votes Thank Flag Link Fri Feb 1, 2013
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