Friday, July 20, 2007

Florida Mortgage | Foreign National Homebuyers: How to get your Loan Started!

Florida is a HOT market for Foreign National's to purchase both Second Homes and Investment Properties. This is a great time and a great market for their purchases. With the weak dollar and the strong Euro and British Sterling, European investment in Florida is at an all time high!

A Foreign National Loan is a very simple process if you have your documentation in place. Here is a great checklist to use when you want to get the ball rolling on that process.

Documents needed for a Foreign National Loan Program:

1) Three Personal Reference Letters from Country of Origin. Letter must be from a lending institution and include the following:

  • Credit was extended to the Borrower
  • Borrower is in Good Standing
  • High Balance
  • Current Balance
  • Payment Amount
  • Payment History

2) Two Months' Bank Statements from a US Based Bank.

3) Employment Verification Must Include the Following:

  • Must be on company letterhead from Country of Origin.
  • Must state Income for for prior 2 years and current income.
  • Length of Employment
  • Position of Borrower
  • Type of Business

For Self Employed Borrowers, please include:

  • Percentage of Ownership in company
  • Address of business for the past 2 years.

4) Copy of Visa (if applicable)

5) Copy of Passport

All letters must be translated into English by a certified translator.

For more information about Foreign National Loans, please check the following links:


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David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

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