Foreign National Loans: Unlock U.S. Homeownership Without a Social Security Number

A Foreign National Loan is a specialized mortgage designed for non-U.S. citizens, including individuals with temporary visas and those residing outside the U.S. These loans allow foreign nationals to purchase or refinance property in the United States. Key Features:

• No Social Security Number (SSN) required
• Flexible income verification (foreign bank statements, employment letters)
• Competitive interest rates
• Various property types eligible (primary, secondary, investment)

Borrowers who meet the following criteria are typically eligible:

• Non-U.S. citizens
• Non-permanent residents
• Visa holders (e.g., E2, H1B, L1)
• Individuals with an Individual Taxpayer Identification Number (ITIN)
• Those with sufficient income and assets to support the loan

Foreign National Loans offer distinct features compared to standard mortgages:

• Income Verification: Often accept foreign income and asset documentation.
• Credit Requirements: May have more lenient credit score requirements or accept alternative credit histories.
• Loan-to-Value (LTV) Ratios: May have higher down payment requirements (e.g., 30-35%).
• Interest Rates: Can be slightly higher than traditional mortgages due to perceived higher risk.

Typically, required documentation includes:

• Passport and visa (if applicable)
• Proof of income (e.g., foreign bank statements, employment letters)
• Asset statements (e.g., foreign bank accounts, investment statements)
• Proof of funds for the down payment and closing costs
• Credit history report (if available)

Foreign National Loans can be used for a variety of property types:

• Primary residences
• Second homes or vacation homes
• Investment properties (including single-family homes, multi-family units, and condominiums)

Ameritrust Mortgage offers numerous advantages for foreign national borrowers:

• Expertise in Foreign National Lending: We understand the unique needs and challenges faced by foreign borrowers.
• Flexible Loan Options: We offer a variety of loan programs tailored to your financial situation.
• Competitive Rates: We provide competitive interest rates and flexible terms.
• Streamlined Process: We strive to make the loan process as efficient and stress-free as possible.
• Personalized Service: Our dedicated loan officers provide expert guidance throughout the process.

While good credit history is preferred, some lenders, including Ameritrust Mortgage, may consider alternative credit verification methods, such as foreign credit reports or rental payment history.

• The required down payment for a Foreign National Loan can vary depending on the lender and your financial profile. However, most lenders require a minimum of 20%, and some may require up to 35%. Ameritrust Mortgage offers options with lower down payments for qualified borrowers.