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Foreign National Loans in Bell Gardens
Bell Gardens sits five miles southeast of downtown LA with strong investor interest from international buyers. Properties here attract foreign nationals looking for rental income in a working-class Latino community with improving schools.
Most foreign national buyers in Bell Gardens target single-family rentals or duplexes priced between $500K and $700K. The rental demand stays high year-round, which matters when lenders underwrite your loan based on rental income projections.
You need 30-40% down as a foreign national buying in Bell Gardens. Most lenders won't touch this loan type below that threshold, and some want 50% on purchases above $1 million.
Credit requirements focus on your home country credit report or reference letters from banks. No US credit history or Social Security number required. Most programs cap at 75% LTV and require six months of reserves in liquid accounts.
Only about 15-20 wholesale lenders in our network actively fund foreign national loans. These aren't Fannie Mae products — you're dealing with portfolio lenders and non-QM shops that price based on perceived risk.
Rates run 1.5-3% higher than conventional loans. Lenders charge more because they can't verify income through US tax returns and face higher default risk. Expect rates between 8-10% depending on your down payment and property type.
Most foreign national deals I close in Bell Gardens use DSCR underwriting rather than income verification. Lenders calculate debt service coverage ratio based on projected rent minus the mortgage payment. You need a ratio above 1.0, ideally 1.25 or higher.
The biggest mistake foreign buyers make is underestimating closing timelines. Plan for 45-60 days minimum. Lenders need extra time to verify foreign bank statements, translate documents, and validate source of funds through multiple international wire transfers.
ITIN loans require US tax filing history through an Individual Taxpayer ID Number. Foreign national loans skip that entirely — you don't need any US tax presence. The tradeoff is higher rates and larger down payments.
If you're buying rental property, DSCR loans might price better than foreign national programs once you establish some US financial presence. But for your first US purchase with zero American banking history, foreign national loans are often the only option that works.
Bell Gardens property taxes run around 1.1-1.2% annually, which affects your DSCR calculation. Factor that into rent-to-payment ratio when lenders underwrite the deal. Insurance costs here sit slightly above LA County average due to proximity to industrial areas.
The city allows accessory dwelling units under recent state mandates. Some foreign buyers purchase properties with ADU potential to boost rental income and improve debt service coverage ratios for loan approval.
Very few lenders approve foreign national loans below 30% down. Most require 35-40% minimum, especially for properties under $1 million in working-class neighborhoods.
Yes, you'll need a US bank account to receive rental income and make mortgage payments. Most lenders require this opened 30-60 days before closing.
Expect to provide bank statements showing funds history, credit reports or bank reference letters, and proof of income. Everything needs English translation by certified translator.
They use third-party verification services that contact your bank directly. Process takes 2-3 weeks typically, which extends your closing timeline significantly.
Yes, through DSCR underwriting. Lenders use an appraisal with rent schedule to calculate projected income against the mortgage payment and require minimum 1.0 ratio.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.