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FOREIGN NATIONALS
Second Homes
• Up to 75% LOAN-TO-VALUE - Limited Documentation: Purchase or Rate and Term Refinance
• Loan Amounts $100,000 to $1,000,000 - Loan Amounts over $1,000,000 case-by-case
Investor Loans – All Products
• 65% LOAN-TO-VALUE – Limited Documentation: Purchase or Rate and Term Refinance
• Loan Amounts $100,000 to $1,000,000
Property types available - SFR, PUD, 2 Units, Condos, Non-warrantable condos & Condo-tels.
Maximum number of U.S. owned properties is one, including subject property.
Construction to Perm, Second Home Limited Documentation
• 70% LOAN-TO-COST – Limited Documentation: Loan Amounts $100,000 to $750,000
• 65% LOAN-TO-COST – Limited Documentation: Loan Amounts $750,000 to $1,000,000
• Loan Amounts over $1,000,000 case-by-case
• Loans may be closed in a corporation or LLC
• Single Family Residenecs and 2 unit properties Allowed
Limited Documentation Requirements
Self Employed: CPA/accountant’s letter, or disinterested third party such as an attorney, verifying length of business & income for two years along with year-to-date income.
Employed: CPA/accountant’s letter, or disinterested third party such as an attorney, verifying length of employment and income for two years or verification of employment and YTD current pay stub. Two verifications are required.
Credit Reports:
An International Credit Report is required from the country of origin. A total of 4 trades are required with a minimum of two reporting on the International Credit report. Additional trades can be bank/credit references with a minimum of a 12 month rating history.
Debt Ratio: Max 50%
US Corporations and LLC’s registered in the US acceptable; Foreign corporations not accepted.
Lot Loans: 60% LTV – 2nd Home Purchase
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