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Foreign National Loans in Pasadena
Pasadena attracts international buyers who want access to LA County opportunities without permanent US residency. Foreign national loans bypass traditional credit and immigration requirements.
These programs work for investors buying rental properties and families purchasing second homes. No US credit history or Social Security number needed.
Most lenders require 30-40% down for foreign national loans. You'll need valid passport and proof of income from your home country.
Expect rates 1-2% above conventional loans. Lenders use international documentation since US credit doesn't exist for foreign buyers.
Purchase price limits vary by lender but most cap at $3-5 million in Pasadena. Some require US bank accounts for payments.
Only 15-20 lenders nationwide offer true foreign national programs. Most banks won't touch these deals due to complexity.
Portfolio lenders and private institutions dominate this space. They underwrite based on property strength and borrower assets, not FICO scores.
Translation requirements vary wildly between lenders. Some accept documents in original language with certified translations, others need everything in English upfront.
We see Chinese and Middle Eastern buyers use these loans most in Pasadena. San Marino borders attract international families wanting top schools without visa delays.
Biggest mistake is assuming all foreign national programs are identical. Rate spreads between lenders hit 2-3% on the same deal.
Smart buyers wire large down payments early to show funds aren't borrowed. Lenders scrutinize asset sources heavily on foreign national files.
ITIN loans require US tax ID numbers while foreign national loans don't. If you've filed US taxes, ITIN programs offer better rates.
DSCR loans work when the Pasadena property generates rental income covering the payment. Foreign national loans don't require income verification at all if assets are strong enough.
Pasadena's proximity to downtown LA and entertainment industry draws international buyers wanting California exposure. Old Pasadena retail and Rose Bowl area appeal to second-home buyers.
Property insurance costs more for foreign nationals since some carriers won't write policies for non-resident owners. Budget an extra 20-30% over standard rates.
LA County property taxes hit 1.16% regardless of citizenship. Foreign ownership doesn't change tax treatment but creates reporting requirements in some home countries.
Yes. Most lenders allow remote closings with notarized documents through US embassies. Wire transfers handle all fund movement internationally.
Most lenders require one for mortgage payments. You can open accounts remotely at major banks using passport and proof of address.
Expect 30-40% down minimum. Some portfolio lenders accept 25% for strong borrowers with significant liquid assets in US dollars.
Plan 45-60 days minimum. International document verification and translation add 2-3 weeks versus standard loans.
Yes. Most programs allow investment properties and rental income. DSCR loans may offer better terms if rental income is strong.
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.