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Foreign National Loans in San Marino
San Marino attracts international buyers seeking stable US real estate and top-tier schools. Foreign national loans make these purchases possible without US citizenship or credit history.
Most conventional lenders reject non-resident applications outright. Our wholesale network includes lenders who specialize in foreign national financing with competitive structures.
Expect 30-40% down payment minimums for foreign national loans in San Marino. Lenders price this tier higher because they can't verify US employment or pull domestic credit reports.
You'll provide passport, visa documentation, and proof of income from your home country. Bank statements showing reserves equal to 12-24 months of payments strengthen your file significantly.
Portfolio lenders dominate this space because Fannie Mae and Freddie Mac don't buy foreign national loans. These lenders hold loans in-house and set their own underwriting rules.
Rate spreads over conventional loans typically run 1.5-3% higher. The premium reflects default risk perception and the inability to report missed payments to US credit bureaus.
Chinese and Middle Eastern buyers make up most of our San Marino foreign national clients. They prioritize school access and long-term appreciation over rate sensitivity.
Wire transfer logistics cause more deals to delay than underwriting itself. Start coordinating with your foreign bank 30 days before closing to navigate international transfer requirements.
If you hold US work authorization, ITIN loans typically offer better rates than foreign national programs. The ITIN path requires establishing US tax history but cuts 1-2% off your rate.
Investment buyers should compare DSCR loans if the property generates rent. DSCR programs ignore citizenship and focus purely on whether rent covers the mortgage payment.
San Marino's limited inventory means foreign buyers compete with all-cash domestic offers. Pre-approval letters need to show serious down payment capacity to get offers accepted.
Property taxes in San Marino stay relatively low under Prop 13 until ownership transfers. Budget for the reassessment at purchase price when calculating total costs.
Yes, remote closings work through power of attorney or mobile notary services. Most lenders accept scanned passport copies and don't require in-person meetings.
Current foreign national rates run 7-9% depending on down payment and reserves. Larger down payments and stronger documentation push you toward the lower end. Rates vary by borrower profile and market conditions.
Most lenders cap foreign national cash-out at 60-65% loan-to-value. Rate-and-term refinances get better pricing than cash-out transactions.
China, Taiwan, Korea, and Middle Eastern countries represent our most common foreign national approvals. Sanctioned countries face restricted access regardless of borrower strength.
Plan for 45-60 days from application to closing. Document translation and international verification add 2-3 weeks versus domestic loans.
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.