Keller Williams Realty Professionals
Foreign National Requirements
1. Legal full name_______________________________________________________
2. Current full home address_____________________________________________
3. If-current home address is less than two years need previous
4. Phone numbers: hm _________________________ wk ___________________________
6. Social security number if you have or ever had one____________________________________
7. Date of birth: ________________________________________
8. Employment or business information for two years:
d.How long in business or employed ___ / _____
e.Previous: ______________________________________how long ___/____
9. Copies of Borrower(s) valid ID two from this list: Valid Visa, Passport, Valid Work Visa, and Driver's License
(country of origin).
10. One document that confirms borrower's home address: Utility Bill, Property Tax Blll.or Credit Card
11. Original Reference Letters- All letters of reference are to be on company letterhead, dated and executed by the appropriate
parties. English translations are to be placed in front of the reference letters, two letters needed personal and two Bank
reference (not from a credit card company), both can be from country of origin or one can be from the US in each group but to start
we can use a fax or em ail copy and original to follow.
12. Asset Verification: 2 months Bank Statements, savings, etc. May be from county of origin, however, documentation must be translated and currency converted to US dollars. All funds must be sourced. Six months reserve required in a bank in the US. (ONLY FOR CLOSING)
13. Most open or have a Bank account here in the US.
14. Two years Income Verification: IF SELF-EMPLOYED: ORIGINAL ACCOUNTANT LETTER: Letter must explain borrower's source of income and
must include previous two years of income and current year to date income. All letters of reference are to be on company
letterhead, dated with legal name, length of time, position and percentage of ownership, executed by the appropriate parties.
English translations are to be placed in front of the reference letters. SALARIED EMPLOYEE: Letter from Employer stating current monthly salary, year to date and a valid pay stub(s) of one month employment also English translation.
15. Purchase/Sale Agreements- All pages including addendums and executed by all parties. Escrow letter and a copy of cancelled escrow check(s). Funds on deposit exceeding $15,000.00 will require sourcing.
Yes, you can get a mortgage in the US. There are several lenders that do "foreign national loans". I'd be happy to provide you with more information. Feel free to contact me anytime.
Coldwell Banker Residential Real Estate
Hard money lenders are restricted on the amount of fees they can charge. Because of this, the rate may be higher and the underwriting is a little tougher to get through.
You'll want to explore both options depending on what you plan on doing with the property after you buy it. Hard money is for temporary financing (up to 24 months max, whereas private money can be for 30 years. Both offer financing for commercial and residential, however, private money allows a person to buy the property and live in it, whereas, hard money can only be used for investment properties.
You'll also want to establish an LLC (Limited Liability Company). If you need help, I can refer you to someone. With the LLC, you'll need a Federal Tax ID Number or TIN. The TIN will be used to start your credit in this country. You'll need to open a checking account in the US as well if you haven't already.
You are welcome to visit my website listed below for more information.