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  • US Mortgage For Non Residents Loan Requirements

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    Rajesh Somshekhar
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    US mortgages are available to non-residents through programs that provide financing for purchasing or refinancing property in America. These programs allow borrowing of up to $2 million with a maximum loan-to-value ratio of 70% for purchases or 65% for refinances. Applicants may qualify based on stated income without document verification or by providing tax returns, bank statements, and pay stubs. Non-US citizens must have a valid passport and funds in a US bank for at least 60 days to obtain financing for a minimum loan amount of $100,000.

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    US Mortgage for Non Residents Loan Requirements

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    US mortgages are available to non-residents through programs that provide financing for purchasing or refinancing property in America. These programs allow borrowing of up to $2 million with a maximum loan-to-value ratio of 70% for purchases or 65% for refinances. Applicants may qualify based on stated income without document verification or by providing tax returns, bank statements, and pay stubs. Non-US citizens must have a valid passport and funds in a US bank for at least 60 days to obtain financing for a minimum loan amount of $100,000.

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    © All Rights Reserved
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    14 views3 pages

    US Mortgage For Non Residents Loan Requirements

    Uploaded by

    Rajesh Somshekhar
    US mortgages are available to non-residents through programs that provide financing for purchasing or refinancing property in America. These programs allow borrowing of up to $2 million with a maximum loan-to-value ratio of 70% for purchases or 65% for refinances. Applicants may qualify based on stated income without document verification or by providing tax returns, bank statements, and pay stubs. Non-US citizens must have a valid passport and funds in a US bank for at least 60 days to obtain financing for a minimum loan amount of $100,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    US Mortgage for Non Residents: Loan

    Requirements
    Is there a US Mortgage for non Residents?

    Yes, you can get a US Mortgage for non-Residents! America Mortgages has several
    mortgage programs for non U.S. Citizens to obtain US real estate for purchase or
    refinancing, regardless whether they have U.S. credit (FICO score), residency, or even
    proof of income.

    Whether you plan on living in the home or


    staying in your home country and renting
    it out at today’s high rental rates, you
    too can invest in a US property. From
    Florida to Texas to California, you can buy a
    home in any one of the 50 United States!

    Loan to Value (LTV) Ratio on US


    Mortgage for Non Residents

    Maximum Loan to Value for a non-U.S. citizen mortgage is typically capped at 70% LTV
    (30 down payment) on a purchase and 65%LTV on a refinance.

    Most programs allow up to USD$2,000,000 maximum cash out for a refinance or


    remortgage.

    Non-US Citizen Mortgage Income Qualification

    America Mortgages for US non-residents can be dividing into two types of loan
    programs for:

    1. Stated Income Mortgages: Do not require income verification or tax returns.


    Perfect for non-U.S. citizen mortgage borrowers that are either self-employed or
    have numerous write-offs on foreign tax returns.
    2. Full Income Mortgages: Require the following:
     Two (2) years of foreign tax returns
     Two (2) months bank statements (foreign account okay)
     One (1) month pay statements

    Valid non-US Passport

    US mortgages for non-residents require a copy of a valid passport of the borrower. A


    U.S. visa is not required normally. You should also make sure that your country is not
    listed in Office of Foreign Assets Control (OFAC) Sanctions Programs and Country
    Information.

    Mortgage Loan Down Payment

    The necessary down payment can range


    from 30% to 50%, depending on the
    property type, interest rate, and
    documents that you can provide.
    America Mortgages has mortgage
    programs for non-income and income
    verification.

    Mortgage Interest Rate

    U.S. Mortgage interest rates for non-US citizen borrowers vary from 5% to 7+% and
    are subject to change every day. America Mortgages compensation is not based on the
    rate, and borrowers will receive the best options available at the time of application.

    Acceptible Non-US Resident Bank Statements

    Non US Citizen mortgage borrowers need to show two months (60 days) of bank
    statements and show that funds are “seasoned.” Seasoned funds mean that funds have
    been in an account, U.S. or Foreign, for a minimum of 6o days for anti-money
    laundering (AML) purposes. U.S. anti-money laundering laws require this.
    If the borrower has money in cash, he/she will need to deposit that cash in their bank
    and let it season two full months.

    America Mortgages has loan programs that allow for 100% gift funds for Non-U.S.
    citizen borrowers looking to purchase U.S. Real Estate. Gift funds are money given to
    you by a family member or friend without expectation of repayment. This money will
    also need to meet the AML seasoning requirements.

    Necessary Money Reserves US Mortgages for Non Residents

    For most programs reserves are not required.

    Foreign Credit Report or Bank Reference Letter

    For most programs, a foreign credit report or bank reference letter will be required for
    non US citizens.

    Required Funds in a U.S. Bank

    The funds for the down payment and closing costs must be in a banking institution for
    60 days (seasoned). These funds can be in either a U.S. account or non-U.S. account.
    Any bank statements in foreign languages require professional translation.

    Minimum Loan Amount $100,000

    Unlike regular loans, US mortgages for non citizens do have a minimum loan amount
    requirement. Remember that it is the loan amount, not the sales price.

    Reference: https://www.americamortgages.com/us-mortgage-for-non-residents/

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