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Foreign National Loans in Lomita
Lomita attracts foreign investors despite its smaller footprint. The city's proximity to major employment corridors and coastal amenities makes it competitive for international buyers.
Foreign national programs let non-US citizens buy property here without permanent residency. Most lenders structure these as investment purchases rather than primary residences.
Expect 30-40% down payment minimums across most programs. Lenders compensate for cross-border risk with higher equity requirements than conventional loans.
Credit history from your home country often works if documented properly. Some lenders accept international credit reports, others rely on asset verification and income documentation.
Valid passport and proof of foreign address are standard requirements. You'll also need a US bank account opened before closing to handle transactions.
Fewer than 20% of lenders in our network handle foreign national loans. Those who do specialize in it and understand the documentation differences.
Rate premiums run 0.75-1.5% above conventional programs. The smaller lender pool and perceived risk drive pricing, but terms stay competitive among specialized lenders.
Portfolio lenders dominate this space since government-backed programs don't allow foreign nationals. These lenders hold loans instead of selling them, giving more flexibility on underwriting.
Foreign national deals take 45-60 days to close versus 30 for conventional loans. Documentation gathering across countries and translation requirements add time.
Investment properties in Lomita work better than primary residence claims. Lenders view South Bay homes as rental-viable, which strengthens approval odds.
Currency exchange timing affects your down payment. Lock in favorable rates early and plan for wire transfer delays from international banks.
ITIN loans require US tax presence that many foreign nationals don't have yet. Foreign national programs skip that requirement entirely.
DSCR loans also work for foreign buyers but require existing rental income from the property. Pure foreign national programs evaluate assets and global income instead.
Lomita's lower price point compared to nearby Palos Verdes makes the high down payment more manageable. A $800K property needs $240K-$320K down versus $500K+ on a $1.5M coastal home.
Property management availability matters since most foreign national buyers live abroad. Lomita has established property management serving South Bay investors.
Title insurance companies familiar with foreign buyers operate in Los Angeles County. This prevents closing delays from inexperienced title officers unfamiliar with passport-based identification.
Most programs require investment property classification. Some lenders allow second homes, but true primary residence designation is rare without US residency status.
Passport, proof of address, bank statements, and income verification. Most documents need certified English translation if in another language.
Not always. Some lenders allow remote closing with notarized documents through US embassies or consulates in your home country.
Bank statements showing deposits, employer letters, and tax returns from your country. Asset reserves can sometimes substitute for income verification.
Your loan is in US dollars with fixed payments. Currency risk affects your ability to send payments from foreign accounts, not the loan terms.
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.