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Foreign National Loans in Maywood
Maywood sits three miles from downtown LA with median home prices well below county averages. Foreign nationals target this market for rental income, not personal residence.
Most buyers here are investors from Mexico and Central America buying multi-family properties. The gateway location and rental demand make these deals work even with higher rates.
Lenders price these loans 1.5-2.5% above conventional rates because they can't verify foreign income easily. That spread is normal — borrowers pay for the flexibility of no visa requirement.
You need 30-40% down depending on property type and country of origin. Credit scores from your home country sometimes substitute for US credit, but expect 660+ equivalent.
Lenders want to see 12-24 months reserves after closing. That proves you can cover payments if tenants leave or repairs hit.
No income verification in the traditional sense — lenders focus on the rental income the property generates. Most require minimum DSCR of 1.15 to approve the loan.
Only specialized non-QM lenders handle foreign national loans — your local bank will decline immediately. We access 20-30 lenders who actively compete in this space.
Each lender has different country restrictions and documentation requirements. Some accept passport and proof of address, others want full credit reports from your home country.
Rate shopping matters more here than conventional loans because spreads between lenders hit 0.75-1%. That's $150-200 monthly on a $500K loan.
Foreign nationals buying in Maywood usually fall into two categories: investors living abroad who want California rental income, or immigrants planning to relocate who can't wait for visa approval.
The biggest mistake is not structuring ownership correctly. Some borrowers need LLC or trust structures depending on their tax situation and home country agreements with the US.
Most deals close in 45-60 days instead of 30 because foreign document verification takes longer. Sellers here understand that timeline if you communicate upfront.
ITIN loans work better if you already have US tax history and income here. Foreign national loans make sense when you earn and live abroad but want US property exposure.
DSCR loans compete directly with foreign national programs for investors. The difference: DSCR requires US credit and sometimes US residency, but offers better rates.
If you have significant liquid assets, asset depletion loans sometimes beat foreign national pricing. We run both options when borrowers show $500K+ in verifiable accounts.
Maywood has almost exclusively multi-family and small apartment buildings — perfect for foreign investors who want multiple income streams from one purchase.
Rents here stay stable because of proximity to downtown and industrial employment. That rental stability helps foreign nationals meet DSCR requirements even with modest rents.
Property management is essential when you live abroad. Factor $100-150 per unit monthly into your cash flow analysis or lenders won't approve adequate reserves.
Yes, most lenders allow remote closings with notarized documents. You'll need a US-based attorney or representative to handle final signing at escrow.
You'll need one to close the loan and receive rental income. Most foreign nationals open accounts 60-90 days before purchase to establish the relationship.
Each lender maintains different lists, but sanctioned countries and high-risk jurisdictions face limited options. We check eligibility based on your specific citizenship before starting.
They don't in most cases. Foreign national loans focus on property cash flow and your reserves, not employment income like traditional mortgages.
Some lenders allow it, but rates run higher than investment properties. Most foreign buyers in Maywood purchase rental property, not personal residence.
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.