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FACT: 10M Foreign Nationals/year purchase real estate. Capitalize Now!
What is a foreign national mortgage loan?
Mortgage loans are available for foreign nationals to purchase US based real estate with certain lenders. There is a common misconception surrounding citizenship and real estate purchase eligibility so let's debunk those myths ASAP. When permanent US residency is not granted or available for your client- choose a mortgage broker that can help you close the deal.
NON-PERMANENT RESIDENT ALIENS
A Non-Permanent Resident Alien is a non-U.S. citizen authorized to live and work in the U.S. on a temporary basis. Non-Permanent Resident Alien borrowers are eligible for purchases of a Primary residence, second home or investment property.
Canadian citizens living in the US can utilize these programs simply by providing their valid passport as proof of their status so long as they're legally allowed to be here for employment purposes.
"A mortgage to a non resident is called a Foreign National Mortgage loan. A foreign national who is not a resident of the United States will in many cases seek to own real estate. Financing real estate is generally done by US mortgage companies and banks to United States citizens.
Lenders also offer loans to non citizens. They may be resident aliens, temporary residents or other classifications of either temporary or permanent status." According to Wikipedia.
Loan Amounts to $1.5MM ... more
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