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An individual would use this loan if they are considered a Foreign National in the United States. A Foreign National is a person who is not a citizen of the host country in which he or she is residing or temporarily sojourning. For example, a foreign national in Canada is someone who is neither a Canadian citizen nor a permanent resident of Canada
● 8 years or older
● Not a U.S citizen
● Not a green card holder
| UNDERWRITING DETAILS | INVESTOR A | INVESTOR B | INVESTOR C |
|---|---|---|---|
| CREDIT REQUIREMENT | 500 + FICO SCORE | NO U.S. CREDIT SCORE REQUIRED | NO U.S. CREDIT SCORE REQUIRED |
| DEBT-TO-INCOME RATIO | ITIN#* = 50% MAX DTI FOREIGN NATIONAL = NONE | NO DTI RATIO | NO DTI RATIO |
| MAX LTV | ITIN#* LOAN = 75% LTV FOREIGN NATIONAL = 75% LTV | UP TO 70% LTV | UP TO 75% LTV |
| ELIGIBLE PROPERTIES | SFR | CONDO | PUD | MULTI-UNIT(2-4) | SFR | CONDO | PUD | 5+ | SFR | CONDO | PUD | MULTI-UNIT (8 unit max) |
| IDENTIFICATION | PASSPORT OR ITIN#* | PASSPORT ONLY | PASSPORT |
| INCOME DOC REQUIRED | ITIN* # LOAN = FULL DOC FOREIGN NATIONAL = NO DOC | N/O/O = NO DOC | STATED INCOME OR BANK STATEMENT ONLY |
| LOAN TERM RANGE | 30 YEAR FIXED or 7/1 ARM* | 6 month - 30 Year | 1 year |2 Years | 4 Years |
| LOAN AMOUNT | $100K - $3MM | $100K - $2MM $10MM MAX ON BRIDGE LOAN | $100K – $5MM |
| MAX. LOAN ALLOWED | ITIN # LOAN = $1MM FOREIGN NATIONAL = $3MM | ITIN # LOAN = $1MM OREIGN NATIONAL = $2MM | $5MM |
| APPLICABLE STATES | CA, OR, CO, FL, TX | CA, OR, CO, FL, TX | AZ, CA, CO, FL, GA, HI, NC, NV, OR, SC, TN, TX, UT, WA |
| LOAN PURPOSE | PURCHASE | REFI | C/O* | PURCHASE | REFI | C/O* | PURCHASE | REFI | C/O* | REHAB |
| RESERVES | NO RESERVES REQUIRED | NO RESERVES REQUIRED | RESERVES REQUIRED |
| OCCUPANCY | O/O | N/O/O | SECOND HOME | N/O/O ONLY | N/O/O ONLY |
| CLOSING TIMELINE | 30 - 40 DAYS | 30 DAYS | 5-10 DAYS |
An individual would use this loan if they are considered a Foreign National in the United States. A Foreign National is a person who is not a citizen of the host country in which he or she is residing or temporarily sojourning. For example, a foreign national in Canada is someone who is neither a Canadian citizen nor a permanent resident of Canada
● 8 years or older
● Not a U.S citizen
● Not a green card holder
| UNDERWRITING DETAILS | INVESTOR A | INVESTOR B | INVESTOR C |
|---|---|---|---|
| CREDIT REQUIREMENT | 500 + FICO SCORE | NO U.S. CREDIT SCORE REQUIRED | NO U.S. CREDIT SCORE REQUIRED |
| DEBT-TO-INCOME RATIO | ITIN#* = 50% MAX DTI FOREIGN NATIONAL = NONE | NO DTI RATIO | NO DTI RATIO |
| MAX LTV | ITIN#* LOAN = 75% LTV FOREIGN NATIONAL = 75% LTV | UP TO 70% LTV | UP TO 75% LTV |
| ELIGIBLE PROPERTIES | SFR | CONDO | PUD | MULTI-UNIT(2-4) | SFR | CONDO | PUD | 5+ | SFR | CONDO | PUD | MULTI-UNIT (8 unit max) |
| IDENTIFICATION | PASSPORT OR ITIN#* | PASSPORT ONLY | PASSPORT |
| INCOME DOC REQUIRED | ITIN* # LOAN = FULL DOC FOREIGN NATIONAL = NO DOC | N/O/O = NO DOC | STATED INCOME OR BANK STATEMENT ONLY |
| LOAN TERM RANGE | 30 YEAR FIXED or 7/1 ARM* | 6 month - 30 Year | 1 year |2 Years | 4 Years |
| LOAN AMOUNT | $100K - $3MM | $100K - $2MM $10MM MAX ON BRIDGE LOAN | $100K – $5MM |
| MAX. LOAN ALLOWED | ITIN # LOAN = $1MM FOREIGN NATIONAL = $3MM | ITIN # LOAN = $1MM OREIGN NATIONAL = $2MM | $5MM |
| APPLICABLE STATES | CA, OR, CO, FL, TX | CA, OR, CO, FL, TX | AZ, CA, CO, FL, GA, HI, NC, NV, OR, SC, TN, TX, UT, WA |
| LOAN PURPOSE | PURCHASE | REFI | C/O* | PURCHASE | REFI | C/O* | PURCHASE | REFI | C/O* | REHAB |
| RESERVES | NO RESERVES REQUIRED | NO RESERVES REQUIRED | RESERVES REQUIRED |
| OCCUPANCY | O/O | N/O/O | SECOND HOME | N/O/O ONLY | N/O/O ONLY |
| CLOSING TIMELINE | 30 - 40 DAYS | 30 DAYS | 5-10 DAYS |
