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Foreign National Loans in Santa Clarita
Santa Clarita draws foreign buyers looking for suburban California living without San Fernando Valley prices. Most come from China, Canada, and Mexico buying investment properties or second homes.
Foreign national loans here typically start at $150,000 and go up to $3 million. Expect 30-40% down payments and rates 1-2% above conventional loans.
The Six Flags area and Valencia neighborhoods see the most foreign buyer activity. These areas offer newer construction and proximity to LA without downtown density.
You need a valid passport and proof of income from your home country. Most lenders want to see 12-24 months of bank statements showing reserves.
Credit matters less than assets. If you can document 30-40% down plus 6-12 months reserves, you'll likely get approved regardless of US credit history.
Income verification comes through tax returns, pay stubs, or business documents from your country. Translation to English is required with certified translator.
Only about 20 of our 200+ lenders offer true foreign national programs. The rest either don't understand the product or won't touch the risk profile.
Smaller portfolio lenders move faster than big banks here. They price each deal individually instead of running automated underwriting that rejects foreign documentation.
Expect 45-60 day closings minimum. Foreign document verification takes longer than domestic loans, especially for income sources outside North America.
The biggest mistake foreign buyers make is shopping for US conventional rates. Those don't apply to you. Compare foreign national programs against each other, not against products you can't access.
Wire transfer logistics kill more deals than underwriting. Get your bank involved early to understand cross-border transfer limits and timelines for your country.
Some lenders allow rental income to qualify you even on properties you're buying. This works well in Santa Clarita where single-family homes rent for $3,000-$4,500 monthly.
ITIN loans require US tax history, which many foreign nationals don't have. Foreign national loans skip the ITIN requirement entirely but cost more.
If you have an E-2 or L-1 visa, conventional loans might work and save you 1-2% on rate. Worth exploring before committing to foreign national pricing.
DSCR loans work for foreign investors buying Santa Clarita rentals. They require less documentation but still need 20-25% down and US entity formation.
Santa Clarita's master-planned communities appeal to foreign buyers wanting turnkey properties. Valencia and Stevenson Ranch offer HOA management that works well for absentee owners.
Property taxes here run 1.1-1.2% of purchase price annually. Add HOA fees of $150-$400 monthly in most neighborhoods foreign buyers target.
Short-term rentals face city restrictions in residential zones. Plan for traditional 12-month leases if buying as investment property, not Airbnb income.
Escrow companies here handle fewer foreign transactions than West LA or Irvine. Expect more questions and slightly slower processing than in areas with higher foreign buyer volume.
Yes, most lenders allow remote closings with mobile notary or embassy signing. You'll need a US bank account for loan payments, which can be opened remotely with some banks.
Expect 30-40% down for purchase prices under $1 million. Properties over $1 million often require 35-45% down, depending on lender and property type.
No. Lenders underwrite based on home country income and assets. Your passport country's bank statements and income documents replace US credit reports entirely.
Plan for 45-60 days from application to closing. Document translation and international verification add 2-3 weeks versus domestic loans.
Some lenders allow this on investment properties. They'll use 75% of projected rent based on appraisal to offset your payment obligation.
Current rates run 1-2% above conventional loans. Rates vary by borrower profile and market conditions, typically landing in the 8-10% range as of 2024.
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.