A Foreign National mortgage is a loan offered to the borrower if he has any one of the following visas: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2, or lives in a visa-free country. The borrower must be a resident and an employee in a foreign country, away from the U.S. The borrower falls under the ICF/DSCR plan and scores a loan depending upon how property cash flows. The Foreign National mortgage has only those properties in which the owner does not live. Purchase, refinance, and cash-out transactions.
For the foreign national mortgage loan, borrowers are given a loan if they have any of these visas: P-1. P-2. O-2, J-1, J-2, I, H-2, H-3, B-1, B-2 or stays in a country with a visa waiver.
Borrowers are required to work and live in another country, unable to live or work in the US. Based on the ICF/DSCR program, the eligibility of borrowers is determined by the cash flow of the property.
The foreign national program can be used only for non-owner-occupied properties for cash-out transactions, purchases, and refinance.
Employing us as your mortgage broker will offer you the following: Help you obtain the most suitable loan. Faster closings. Additional flexibility. Access to additional programs. More experience and well informed.
The current increase in housing prices is becoming challenging for many hometown heroes such as firefighters, police officers, nurses, and teachers.
There have been several advocacies by Florida Realtors for cheaper housing policies, such as supporting two new programs in 2022 that will offer significant housing relief to these vital members of the community