What is a Foreign National?

  • A foreign national is a legal resident or citizen of another nation.
  • They buy a second home or a vacation home here in the U.S.or abroad for personal use.
  • The foreign national lives in the US or abroad property on a short-term basis only (may rent the property
    when not occupying).
  • He or she could be here or abroad on business, or while on vacation or holiday.
  • Foreign nationals primarily have income, employment, credit, and residency in a country other than the
    US, or abroad.
  • A foreign buyer who is purchasing investment property to rent out or lease.
  • A buyer purchasing commercial property such as hotels, office buildings, apartment buildings or
  • A borrower with an ITIN (Individual Taxpayer Identification Number).
  • Someone with a certain class of work visa, other than the B-1/B-2 visitor visa entering the US.
  • International borrowers.
  • US citizens who work abroad and earn income overseas.
The key advantages of the Foreign National Loan Programs included in the US:

  • Fixed rate terms (10, 15, 20, 25 & 30)
  • Adjustable rates (3/1, 5/1, 7/1, 10/1)
  • New home loans and refinance
  • Debt-to-income ratios are 35%/45% ("Assets for income" option)
  • No pre-payment penalties
  • New home loans and refinance
  • No pre-payment penalties
  • Up to 65% loan-to-value financing
  • Eligible properties include single-family residences, condos, townhouses and non-warrantable
  • Second homes financing
  • Low bank fees.
  • Can close in an LLC
  • Self-employed okay
  • Available in Florida
DISCLAIMER: Richard D. Clifford LLC Website provides general information to be used as a guide to assist you but makes no
claims, promises or guarantees about the accuracy, completeness, or adequacy of the information he will supply, as information
must be tailored to the specific circumstances of each consumer. The mortgage industry is constantly changing, nothing provided
herein should be used as a substitute for the advice of a professional loan officer or legal counsel.

Richard D. Clifford LLC Page only provides/explains general mortgage, credit and loan concepts and principles and will try to give
you the most relevant and accurate information to the best of his abilities. The information provided is not intended to be legal or
professional advice. Although Richard goes to great lengths to make sure the information is accurate and useful, he
recommends you consult a Mortgage professional.