The United States is where many people set their sights on making their dreams come true, which is at the heart of the oft-vaunted American Dream. For most people, this American Dream lives at home, and purchasing property is the best way to make it a reality. However, for foreign buyers seeking financing, it is complicated to understand which options are best. Fortunately, partnering with mbanc Worldwide renders the American Dream more accessible than ever. Explore the top foreign national mortgage loan program:
What is a Foreign National Mortgage Loan for Foreign Buyers?
Even non-US citizens can get financing to purchase property in the United States. Foreign nationals are eligible for traditional mortgage loans, but their lack of U.S. credit history and income often makes obtaining conventional financing difficult.
For foreign buyers, the best options available are foreign national mortgage loans. These mortgages are specifically made for non-citizens, who can use this financing to purchase a second home or an investment property.
With mbanc Worldwide, our passion is helping foreign nationals navigate this process to live out their American Dream. We can find the right financing option for you.
mbanc Worldwide: The Top Foreign National Mortgage Loans
mbanc Worldwide offers a seamless mortgage experience for foreign buyers. Our foreign national mortgage loan programs include:
- Exclusive financing options
- Dedicated concierge services
- A panel of international real estate professionals
We work closely with foreign nationals to provide financial flexibility and peace of mind from the initial application stages to the final closing stages. Our passion is providing an unrivaled concierge service and treating each relationship with the utmost care.
This program is an excellent option for borrowers who do not live in the United States but want to purchase or refinance a property in the U.S. Our financing options are exclusively for second homes, vacation homes, and investment properties.
We cater specifically to borrowers who live and work in other countries and want to remain in their home country but who also want to purchase a vacation home or investment property in the U.S. When you partner with mbanc Worldwide, you receive:
- Realtor concierge services
- Property staging services
- Property management services
- Access to mbanc Invest, an innovative investment ROI calculator
- Exclusive access to mbanc Worldwide locations
Key Features of Our Foreign National Mortgage Loans
There are several benefits for foreign buyers partnering with mbanc Worldwide to secure financing through our foreign national mortgage loan program. Some essential features and advantages to consider include:
- Loan amounts of up to $2 million
- Max LTV of up to 75%
- Max DTI of up to 50% (if qualifying with income)
- Minimum 680 FICO Score to qualify for foreign nationals with U.S. Credit
- If applying using U.S. Credit, a minimum of 2 reporting tradelines for 24 months, or 3 reporting tradelines for 12 months
- If applying without U.S. credit, 2 credit reference letters from companies who have extended credit to the borrower, or 1 bank reference
- The ability to source funds from assets in foreign accounts for closing
- 40-year, 30-year, and 15-year fixed-interest rates
- Financing available for purchasing and refinancing transactions
- $500,000 maximum cash in hand
- Occupancy available
- DSCR, bank statement, 1099, and asset utilization programs for foreign nationals
Learn How mbanc Worldwide Can Find the Right Foreign National Mortgage Loan Program for Your Needs
It can be difficult to secure financing in the USA for foreign buyers. While it is not impossible by any means, undergoing this process alone is exceedingly complicated. Worst yet, without the expertise and experience of specialty lenders, foreign nationals are more susceptible to unideal loan terms and programs that don’t accommodate their unique needs. Partnering with mbanc Worldwide makes shopping for foreign national mortgages easier than ever. We don’t just finance mortgages; we finance your dreams. To learn more about how we can help you live out your American Dream, talk with our team today, and we will make that dream a reality together.