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Foreign National Loans in Pomona
Pomona attracts foreign buyers looking for affordable Los Angeles County real estate without the coastal price tags. Foreign national loans let you buy here without a US credit history, Social Security number, or permanent residency.
Most international buyers in this area use these properties as rentals or second homes. The loan structure works because lenders focus on the property value and your assets, not your employment location or visa status.
You need 30-40% down payment minimum. Most lenders require proof of foreign income through bank statements or tax documents from your home country, plus significant cash reserves.
Expect to show 12-24 months of reserves after closing. Lenders verify your identity through passport and proof of address in your home country. Your property must appraise properly regardless of your citizenship.
Only specialized non-QM lenders handle foreign national loans. Traditional banks and Fannie Mae lenders won't touch these deals because the borrower has no US credit footprint.
Each lender has different country restrictions and documentation requirements. Some won't lend to citizens from certain countries. Others have minimum loan amounts that price out cheaper Pomona properties. Brokers who work this space know which lenders accept which passports.
Foreign national deals die most often on documentation translation and verification. Get your bank statements and income docs translated by certified translators before you start shopping. Delays in document verification kill rate locks.
Most of my Pomona foreign national clients buy investment properties near Cal Poly Pomona or along the Metrolink corridor. They rent to students or commuters. DSCR loans sometimes work better than foreign national programs if the rental income covers the payment, because DSCR rates run lower.
ITIN loans require a US tax ID and US-source income. Foreign national loans don't. If you haven't filed US taxes and don't plan to work here, foreign national is your only conventional path.
Bank statement loans need US bank accounts with deposit history. Asset depletion loans work if you have massive liquid assets but minimal income. DSCR loans ignore your income entirely if the property cash flows. Your situation determines which non-QM product fits.
Pomona property taxes run about 1.1% of purchase price annually. Foreign nationals need a US tax identification number to pay property taxes, which is separate from the loan approval process. Your closing attorney handles this.
Title companies sometimes balk at foreign addresses for insurance purposes. Establish a US-based contact or property manager before closing. Some lenders require proof of property management if you live overseas.
Some lenders accept 25% down for strong borrowers with substantial reserves. Most require 30-40% down as standard.
Expect 1-3% above conventional rates, typically 7-10% range depending on down payment and reserves. Rates vary by borrower profile and market conditions.
No. Lenders accept foreign bank statements and proof of assets in your home country. You will need a US account before closing to wire funds.
Most lenders exclude countries under US sanctions or with weak banking transparency. Your broker checks lender country restrictions before application.
Some programs allow it, but DSCR loans handle rental properties better. DSCR ignores your personal income entirely and focuses on property cash flow.
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.