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Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program

When applying for a Foreign National Loan in the United States, a Foreign National Borrower must provide a copy of a valid passport and Visitor Visa for the lender to verify the eligibility of the borrower.The Visa Waiver Program is available to residents of certain countries to come to the United States and stay for a period of no longer than 90 days without obtaining a visa.  These Foreign Nationals can come for either Tourism or Business reasons... Business or Pleasure.Currently there are twenty seven (27) countries who qualify for the Visa Waiver Program.  They are:

Andorra Iceland Norway
Australia Ireland Portugal
Austria Italy San Marino
Belgium Japan Singapore
Brunei Liechtenstein Slovenia
Denmark Luxembourg Spain
Finland Monaco Sweden
France the Netherlands Switzerland
Germany New Zealand United Kingdom

In order for a Foreign National that qualifies for the Visa Waiver Program to obtain a Mortgage on a Second Home or Investment Real Estate, the Foreign National Borrower will need to obtain a letter certifying their Visa Waiver Program status from the nearest US Embassy or Consulate.Foreign Nationals using the Visa Waiver Program as opposed to obtaining a full Visitor Visa will likely have trouble qualifying for a property as a primary residence, therefore only a Second Home or Investment Property mortgage program will work for these borrowers.For more information on the Visa Waiver Program choose one of the links below:

 

Florida Mortgage | Foreign National Homebuyers: How to get your Loan Started!

 

Florida is a HOT market for Foreign National’s to purchase both Second Homes and Investment Properties. This is a great time and a great market for their purchases. With the weak dollar and the strong Euro and British Sterling, European investment in Florida is at an all time high!A Foreign National Loan is a very simple process if you have your documentation in place. Here is a great checklist to use when you want to get the ball rolling on that process.Documents needed for a Foreign National Loan Program:1) Three Personal Reference Letters from Country of Origin. Letter must be from a lending institution and include the following: 2) Two Months’ Bank Statements from a US Based Bank.3) Employment Verification Must Include the Following: For Self Employed Borrowers, please include: 4) Copy of Visa (if applicable)5) Copy of Passport

All letters must be translated into English by a certified translator.

***Nothing on this page should be construed as legal, financial or tax advice. Please see the appropriate professionals for your specific needs. No warranties or representations are made.