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Wednesday, March 12, 2008

Foreign National Loans

We have had a lot of inquiries from foreigners regarding financing options, so I thought it would make a good blog topic today. Depending on the borrower; if they have the equity on their primary home (in Canada, South America, Europe, etc.) many may choose to get the monies out of that residence then pay cash for their U.S. purchase. However, if they are seeking "local" financing the following is a recap provided to me by our in-house lender, Sunbelt Lending Services:
  • Down payments starting at 25%
  • Loan amounts from $50,000 to $2 million
  • No American credit necessary
  • Full Income documentation AND Stated Income documentation programs available
  • Fixed and adjustable rate programs available
  • Interest only payments available as well

Other pertinent information which I believe to be helpful:

  • Most loans have a pre-payment penalty~usually 3 years
  • Loan Limits and Loan to Value limits based on: Property type, Program type, Purchase versus refinance and Loan amount
  • All borrowers must supply proper identification: Visa, passport & drivers license
  • Most loans require 6 months of reserves deposited into a U.S. bank account prior to closing and authorization for withdrawal

*Obviously all programs are subject to change without prior notice. This is being provided for informational purposes only. For additional information please contact Kelly Rebimbas at 239-273-5239 (direct).

With the strength of our foreign buyer's dollar and the wonderful selection of properties in Naples currently on the market, there has NEVER been a better time to buy real estate than NOW! Log onto our website today to view our fabulous listings


  1. Foreign National programs start with 65% LTV or 35% down. 25% down is gone with all wholeslale lenders who still do foreign nationals. However some private lenders and banks offer variations of down payment requirements like 25% down plus 10% placed on bank's CD account and normally 3 to 6 months of reserves.

  2. Stated Income loans are still there at up to 75% LTV, No Income loans are available too up to 70% LTV. Primary home and 2nd home programs still look good. Investor programs are hit by lower LTVs.
    By the way I help For Sale By Owners advertise their properties in Europe. Very comprehensive package covering over 25 million people in advertising.