The borrower has no Green Card and no VISA.
No Credit requiredâ€¦four credit references required â€“ alternate credit from country of origin is okayâ€¦international credit reports are also acceptable.
We require 2-years income verification history but it is not necessary to have U.S. tax returnsâ€¦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 borrowerâ€™s credentials by translating the documentsâ€¦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)â€¦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 proceedâ€¦.
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
Senior Loan Consultant
All California Mortgage
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701
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.