Guidelines:
• Terms: ARMS/Fixed available
• 2nd Home and Investment Properties Allowed
• Down payment options (LTV): Min 25% – 50% by program type, program, rate
• No minimum loan size up to $20M
• Debt to income ratios 43 – 50% Max
• Valid visa and passport from country of origin
• No income products available up to 75% LTV
• No credit references or credit up to 50% LTV
• ITIN products available
• All residential and commercial property types including vacant land are acceptable
• Purchase, Refinance and Cash Outs are acceptable
Income / Assets:
• Reserve requirements – Proof of down payment, closing costs and 6 – 12 months reserves of monthly mortgage payments. Funds must be transferred to a US institution.
• Last 3 months bank statements
• Last 2 years tax returns from country of origin
• Last 2 – 3 paycheck stubs
• Self-employed borrowers – Need a CPA YTD letter with company information, website, marketing material, business card, etc).
Credit / References:
• International credit report and/or 2 – 3 bank/credit letters for the last 24 months
• Documentation in a foreign language must be translated by a certified translator
• Proof of residency and mailing address including Schedule of REOs