British Mortgage - NO DOC
Florida Mortgage Corporation offers the ideal mortgage for British citizens. A NO DOC mortgage program with basically a "BLANK" mortgage application. This means the borrower does NOT disclose any "personal" financial information on the mortgage application. We do NOT ask or require any income, assets, employment, etc. The information cannot be on the mortgage application.
Not yet found a home? No Problem. With a completed mortgage application, you will receive a letter of pre-approval and go shopping for a home. It's a loan waiting for you!
NO DOC mortgage
NO Supporting documentation
NO USA Credit report/International Credit report - None required
NO Income disclosed - None required
NO Assets disclosed - None required
NO Bank statements - None required
Corporate, partnership and trust permitted
Must provide a copy of a valid British passport
Condos (Residential): Up to 55% LTV or 90% CLTV financing (Built prior to 2004)
One year pre-payment penalty (Early Redemption)
USA Bank account not required
Cash-Out Refinance: Considered on a "case-by-case" basis only, under the NO DOC Foreign National mortgage program
If you are "UNABLE" to meet the above "down payment" requirements, we offer a combination mortgage program that only requires a minimum 10% down payment. Please visit: http://www.floridamortgagecorp.com/foreign_national_nodoc-combo.htm
Restrictions: Condo-Hotels NOT eligible for financing under this NO DOC mortgage program. Residential established condo projects/developments must meet be built prior to 2004. None acceptable after 2004. Condos NOT financed in Dade, Broward, Palm Beach counties.
This (condo hotels) type of investment income property is for commercial use as hotels, that require special licensing from the State of Florida.
Unfortunately, the Orlando & Miami real estate market is currently "saturated" with this (condo hotels) type of investment income property, with many being sold at "distressed" prices. Furthermore, the Orlando & Miami real estate market is experiencing serious declining market values due to a high number of foreclosures. The investment property's use is determined by local county zoning laws, Homeowner's Association community guidelines, etc. A Condo-Hotel can only be located in a community that is legally zoned and allows the investment income property to be used for commercial use.
Please visit the following links for additional detailed information: