Home Buying in Mountain View>Question Details

Swanny.rusli, Home Buyer in Mountain View, CA

Hi, what loan company that usually give loan to foreigner that ussually fast and easy? Thanks

Asked by Swanny.rusli, Mountain View, CA Sat Nov 16, 2013

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7
There are lenders like myself that offer loans for this particular scenario. One loan to consider is the Foreign National Loan. These loans are meant for non-residences/citizens seeking a home loan in the United States. Also, this type of loan usually requires about 20% down or more depending on the documents you have available so be prepared for that. It can also be more if you are seeking a high loan amount. Well I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me! Good luck! Brian Nguyen Sr. Mortgage Banker Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Mon Feb 10, 2014
I can certainly help you.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Sat Nov 16, 2013
There are a few send me an email and I will itemize them for you
Flag Mon Nov 18, 2013
What is the requirement?
Flag Sun Nov 17, 2013
Swanny,

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 (does not have to seasoned in a U.S. bank account). 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. (Tip: Google the Country of Origin to determine if they have credit reports & tax filing).
Max 50% Loan-to-value; 
Minimum loan amount of $300,000.

Income:
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.

Assets:
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. In addition, the borrower’s name, employer, and financial institution from the country of origin where the borrower has their funds will be run through an OFAC verification engine to ensure they do not show up…this is done by an Underwriter. Here is the OFAC website if you would like to check it out.

Tax Preparer or Equivalent – Financial Analysis:
If the income and asset documentation is in a foreign language, I might have to hire an Accountant/CPA (tax preparer or equivalent) to analyze, interpret, convert and present the information in such a way so our Underwriter can easily understand. That is, have a comprehensive summary and accounting of the borrower’s financial position. (Tip: All U.S. Embassies provide translation services).

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 me (If your meet our guidelines...It will be fast and easy)

Thierry

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
NMLS 304353 - BRE 01380701
0 votes Thank Flag Link Sat Nov 16, 2013
If you can qualify, I could also think of banks like HSBC, which are really international and try to get the business of international people, and also Bank of the West, subsidiary of BNP, which I have found to be very liberal in their guidelines with foreigners. Karen McDowell - you can find her on the internet. Good luck in your search.
0 votes Thank Flag Link Sat Nov 16, 2013
We suggest you to talk to Wells Fargo too. They have a Foreigner Loan Program.
0 votes Thank Flag Link Sat Nov 16, 2013
You can't get any faster than that! Bart Gabe already reached out to you.

Good luck.
0 votes Thank Flag Link Sat Nov 16, 2013
Thanks
Flag Sat Nov 16, 2013
We offer a foreign national program with a valid VISA or Passport. Feel free to contact us at 800 315 8803.

Until then, I look forward to hearing from you.

Bart Gabe - 800 315 8803
Lending Since 1987
http://www.bartprequalifies.com
bart@bartprequalifies.com



NMLS# 20743 - my licensing information
http://www.nmlsconsumeraccess.org/ - link to look up my license number
0 votes Thank Flag Link Sat Nov 16, 2013
Thanks , will e mail you.
Flag Sat Nov 16, 2013
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