Financing Requirements & Steps for Foreign Nationals
- Fill out standard mortgage application with personal information regarding residence and work location
- Provide valid e-mail address
- 20-35% in deposits – Determined on case by case basis
- Must provide a letter from accountant showing 3 years of income
- Must provide source of funds for closing – bank statement ***All monies must be in the US before approval
- Must provide two types of photo ID
- 12 months of total payments on deposit with lending bank for auto pay (ACH) – new requirement
- Foreign National and US credit report.
- Must be present for closing, no mail away and no Power of Attorney
- Buyer has the ability to close in name of a corporation – See attached
- No limit to purchase price
- No investors, second homes only
Purchase of Real Estate
The purchase of real estate in the U.S. without the proper assistance can become a complex transaction. In addition to the unfamiliar vocabulary, there are a series of complex legal and title issues that will arise. Please download the PDF or Word document at the bottom of the page for more information.