For the bank, a foreigner is a person who does not reside in the USA, does not have a US social security number and whose income is generated outside the USA.
WHAT DO YOU NEED?
- Letter from a financial institution in your country confirming the length of your relationship with them and confirming the good condition of your accounts or bank products. This letter can be in Spanish
- The initial deposit required is 30%
- No work, No income, No credit. The financing is qualified as long as the income from the rental concept of the property to be rented is equal to or greater than the mortgage payment value
- The minimum value of the loan is $ 100,000 and the maximum is 2 Million
- The loan can be of fixed or variable interest (to suit the client)
- The purchase is for a property it will have to be presented as an Investment, not to live it
- The maximum number of units is 4. That is, it can be a single-family, duplex, triplex or quadruplex home.
- Interest on loans for Foreign National may vary, but to date between 5.5% -6.5% Annual
