Foreign National Mortgage    















  

Foreign National - NO DOC

Foreign MortgageFlorida Mortgage Corporation offers the perfect mortgage for Foreign Nationals buying a home in Florida. Our NO DOC mortgage program is basically a "BLANK" mortgage application. This means the applicant or borrower does NOT disclose personal financial information 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 to buy a home. It's a loan waiting for you!

 

 

 

FOREIGN NATIONAL -  LITE DOC    ▪    FOREIGN NATIONAL -  NO DOC     ▪      FOREIGN NATIONAL  10% DOWN PAYMENT

 

 

 

  Foreign PassportUp to 60% LTV financing   -  40% Down Payment

  Up to 90% CLTV  - 10% Down Payment

  NO DOC mortgage

  NO Supporting documentation

  NO Credit report  -  None required

  NO Employment (Job) disclosed  -  None required

  NO Employment Income disclosed  -  None required

   NO Assets (bank deposits) disclosed  -  None required

   NO Bank statements and letters  - None required

   Corporate, partnership and trust permitted

   Must provide a copy of a valid FOREIGN passport

   Short-Term rental homes: Up to 50% LTV, or 90% CLTV financing (income investment property)

   Condos (Residential):  Up to 55% LTV or 90% CLTV financing   (Built prior to 2004)

  One year pre-payment penalty

  Cash-Out Refinance:  Considered on a case-by-case basis only, under the NO DOC Foreign National mortgage program

  NO USA Bank account required

  70% Financing Available


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. Established residential condo projects/developments must meet be built prior to 2004. None acceptable after 2004. Condos NOT financed in Dade, Broward, Palm Beach counties.

 

A condo hotel 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 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 home 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:

 

SHORT-TERM RENTAL HOME    ▪    CONDO HOTEL    ▪    DECLINING MARKET VALUE    ▪    PROPERTY TYPES

 

VISA Information

 

FOREIGN NATIONAL -  LITE DOC    ▪    FOREIGN NATIONAL -  NO DOC     ▪      FOREIGN NATIONAL  10% DOWN PAYMENT

 

 

FOREIGN NATIONAL APPLICATION

 

 

NOTE:   Interest rates and mortgage programs subject to change without prior notice.

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