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Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program

Lenders require Foreign National Borrowers to provide a copy of a valid passport and current Visitor Visa as part of their documentation requirements.

The Visa Waiver Program is available to residents of certain countries to come to the United States and stay for a period of no longer than 90 days without obtaining a visa. These Foreign Nationals can come for either Tourism or Business reasons... Business or Pleasure.

In order for a Foreign National that qualifies for the Visa Waiver Program to obtain a Mortgage on a Second Home or Investment Real Estate, the Foreign National Borrower will need to obtain a letter certifying their Visa Waiver Program status from the nearest US Embassy or Consulate.

For more information on Foreign National Loans and the Visa Waiver Program, please visit the links below:

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Posted by David A. Podgursky, MBA The Mortgage Go To Guy! on 07/20/2007 10:07 AM

Comments (6)

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Originally posted at: Boca Raton & Boynton Beach Florida Mortgage Blog: Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program

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6 Comments on Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program

JUL

2007

David,

More Good info on foreign nationals, it's becoming a hot topic lately at least from what i've been reading, there is never enough info regarding these loans..

Tom Weiss

David -- Great information! Are you seeing an increase in the number of Foreign National Homebuyers? If so, is there any one particular country that seems to have the greatest interest in purchasing Florida property?

Tom - thanks

Colleen - Florida is a hot spot right now for Europeans. Wednesday one euro cost $0.72... when the Euro is back 1|1 the Dutch, Belgian, Italian, etc borrowers will be making great returns on just the money they are investing into the property - not to mention any gains and/or cash flows they get from the investment!

JUL

2007

Very informational. I'm glad to know this.

JUL

2007

Hi David, foreign nationals are definitely a big part of our market here in Miami. I had a borrower from Spain not too long ago, and the bank accepted the passport without having to get the letter from the embassy.... I guess it depends on the lender. This particular bank specializes in foreign nationals so they probably have their own infor up to date.... Do you also find that the guidelines for these types of loans vary, depending on the lender?

Arlyn, I know what bank you are talking about. We have a Miami office and it has a lot of foreign nationals - especially Latin. I had a Spanish borrower lat year.

Some of what they accept vs not depends on the visa.

I think I know the bank you are speaking of..... and yes... lenders vary because underwriters vary... some bigger lenders are tougher on underwriters but their rates are better for it!

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