Non-US Citizens Foreign National Florida Mortgage Lenders
Non-US Citizens Foreign National Definition: An individual who is: (1) not a citizen and (2) and or not lawfully admitted for permanent US residence (as defined in 8 U.S.C. § 1101(a)(20)). We offer a full spectrum of mortgage loans to non-US citizens and Foreign Nationals in all of Florida. Including residential commercial real estate loan products for developers, owner-occupants, and investors seeking financing from $500k thousand to $15 million. Types Include: Single Family, Townhouse, Condo, Multi-family, Office, Retail, and Industrial. All of Florida including Miami, Broward, and Palm Beach. Foreign Nationals CPA letter as long as the loan is under 2.5MM. If the loan is over 2.5MM will need tax returns from your country.
OPTIONS
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TERMS
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RESIDENTIAL
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DOCUMENTATION REQUIREMENTS
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REFINANCE OR CASH-OUT
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FEATURES
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RESIDENTIAL – FULL DOC DOCUMENTS
- 500k-15MM
- CPA lender up to 2.5MM. Loans over 2.5MM will need tax returns from your country.
- Foreign National loans over $2.5MM require two years of Personal Income Tax Returns for substantiation of income.
- Approved Collateral: Single-family homes, PUDs, townhouses, condominiums, duplex, triplex, and fourplexes (minimum 800 sq ft. living area).
- Income and Assets Documentation should be less than 45 days old at loan submission.
- CPA’s signature – Time serving as CPA for borrower’s financial statements preparation
- Accountant License number Address Telephone
- Borrower information 2 years of income YTD income Explanation For Any variations of income 20%.
- Borrower business description Business type Ownership participation Professional Job Title Areas of responsibility Number of employees Products & Services Offices, warehouses, stores Company website (if available).
COMMERCIAL – NO DOC REQUIREMENTS
- 500k- 15MM
- LTV: 50% to 70%.
- Borrower: Domestic and Foreign Nationals.
- Property Types: Multi-family, Office, Retail and Industrial.
- Occupancy: Owner-occupied and investment properties.
- Loan Term: 1 to 10 years, with longer terms available for select stabilized properties. Amortization: Up to 25 years
- Refinances: Purchase Rate/Term and Cash Out.
- Rates: Fixed and floating rates.
CPA LETTER REQUIREMENTS:
- Borrower’s Full Legal Name and country’s identifying ID# (cédula)
- Company Name (If more than 1 company is being used to qualify, list each company and all required information separately)
- Date Established
- % of Ownership in the Company
- Position/Title
- Personal Income most recent 2 years and YTD (Must be in the originating Country’s currency)
- Personal Income must be broken down separately (ex. dividends, salary)
- Dated < 90 days from the YTD earnings date
- CPA Letter Head, CPA signature & complete contact information- Employer’s name, address, telephone
- Position, date of employment
- Dated <90 days
- Last 2 years and YTD income (shown in original currency)- Market Value
- Any Liens on real estate owned
- Annual Property Taxes on real estate owned
- Insurance on real estate owned
- HOA on real estate owned
RECAP:
- US Borrower’s: Two most recent Personal Income Tax Returns are required.
- Foreign National loans over $2.5MM require two years of Personal Income Tax Returns for substantiation of income.
- Third-party funds received relating to the transaction (including payments towards escrow deposits) will not be accepted.
- No short-term rental communities are allowed in Central Florida.
- The interest rate change will be capped at 2% annually and 6% for the life of the loan, with a floor rate (the interest rate at the inception of the loan).
- Acceptable Collateral: Single-family homes, PUDs, townhouses, condominiums, duplexes, triplex, and fourplexes (minimum 800 sq ft. living area).
- Maximum Qualifying Debt-to-Income Ratios: 35% / 43%
Non-Citizen Foreign National Florida Mortgage Eligibility
Fannie Mae has a longstanding policy on eligibility for non-U.S. citizen borrowers. Fannie Mae purchases and securitizes mortgages to non-citizens who are lawful permanent or non-permanent residents of the United States under the same terms available to U.S. citizens.
COVERING ALL FLORIDA INCLUDING:
| Miami Dade | Broward | Palm Beach Cities |
| Miami | Coconut Creek | Atlantis |
| Homestead | Cooper City | Belle Glade |
| Florida City | Coral Springs | Boca Raton |
| Miami Beach | Dania Beach | Boynton Beach |
| Coral Gables | Davie | Briny Breezes |
| Hialeah | Deerfield Beach | Cloud Lake |
| North Miami | Fort Lauderdale | Delray Beach |
| Opa-locka | Hallandale Beach | Glen Ridge |
| Miami Springs | Hillsboro Beach | Golf |
| South Miami | Hollywood | Greenacres |
| Golden Beach | Lauderhill | Gulf Stream |
| North Miami Beach | Lauderdale Lakes | Haverhill |
| Miami Shores | Lighthouse Point | Highland Beach |
| Biscayne Park | Margate | Hypoluxo |
| Surfside | Miramar | Juno Beach |
| El Portal | North Lauderdale | Jupiter |
| Indian Creek Village | Oakland Park | Jupiter Inlet Colony |
| Sweetwater | Parkland | Lake Clarke Shores |
| North Bay Village | Pembroke Park | Lake Park |
| West Miami | Pembroke Pines | Lake Worth Beach |
| Bay Harbor Islands | Plantation | Lantana |
| Bal Harbour | Pompano Beach | Manalapan |
| Virginia Gardens | Southwest Ranches | Loxahatchee Groves |
| Hialeah Gardens | Sunrise | North Palm Beach |
| Medley | Tamarac | Ocean Ridge |
| Key Biscayne | Weston | Mangonia Park |
| Aventura | West Park | Palm Beach |
| Pinecrest | Wilton Manors | Palm Beach Gardens |
| Sunny Isles Beach | Wilton Manors | Pahokee |
| Miami Lakes | Palm Beach Shores | |
| Palmetto Bay | Palm Springs | |
| Miami Gardens | Riviera Beach | |
| Doral | Royal Palm Beach | |
| Cutler Bay | South Bay | |
| South Palm Beach | ||
| Tequesta | ||
| Wellington | ||
| Westlake | ||
| West Palm Beach | ||
COUNTRIES WITH POLITICAL & ECONOMIC RISK –
FATF, High Risk & Non-Cooperatives Jurisdictions, Sanctions Countries and Internal Country Risk Designation Borrowers and guarantors residing and/or earning their income from Sanctioned Countries are ineligible for loans due to economic, political, and BSA Risks. The current list of Countries/Regions subject to these restrictions are: Afghanistan, Albania, Algeria, Angola, Bulgaria, Burkina Faso, Burundi, Cameroon, Central Africa, Republic China, Cote d’Ivoire (IvoryCoast), Croatia, Cuba, Democratic, Republic of Congo, Former Soviet, Coalition Countries,(Except members of, the European, Union), Guinea Bissau, Haiti, Iran, Jordan, Kenya, Lebanon, Libya, Mali, Monaco, Myanmar (Burma), Mozambique, Namibia, Nicaragua, Nigeria, North Korea, Pakistan, Palestine Territory, Philippines, Russian Federation, Somalia, South Africa, South Sudan, Sudan (Darfur), Syria, The Balkan, Countries, Tanzania, Tunisia, Ukraine, Venezuela, Vietnam, Western Sahara, Yemen, Zimbabwe,
