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Foreign National Loans in Corte Madera
Corte Madera attracts international buyers for its proximity to San Francisco, waterfront living, and stable real estate values. Most foreign nationals here purchase second homes or investment properties in Town Center condos and hillside estates.
Traditional lenders won't touch non-US citizens without permanent residency. Foreign national loans fill that gap, using larger down payments and cross-border income documentation instead of domestic credit history.
Marin County properties hold appeal for buyers from Asia, Europe, and Canada seeking US real estate exposure. The stable market and quality schools make Corte Madera particularly attractive for families establishing a US foothold.
You need a valid passport and proof of income from your home country. Lenders want 12-24 months of bank statements showing funds for down payment and reserves.
Expect 35-40% down on primary residence purchases, 40-50% for investment properties. You'll need 6-12 months of reserves after closing, which is higher than most conventional loans.
Credit gets verified through international agencies or bank reference letters. Your debt-to-income ratio matters less than cash position and property value.
Only specialized non-QM lenders offer these programs. Your neighborhood bank or big-box lender won't have access to foreign national products.
Rates run 1.5-3% higher than conventional loans because lenders price in cross-border collection risk. That premium buys you access no traditional product provides.
Underwriting takes 45-60 days versus 30 for conventional loans. Document translation, international verification, and manual review add time you need to budget for in competitive Marin offers.
Most foreign national buyers I work with in Corte Madera are surprised by the reserve requirements. Six months of full payment reserves means cash you can't deploy elsewhere.
The property becomes the primary collateral since lenders have limited recourse across borders. That's why loan-to-value ratios stay conservative regardless of your income level.
Timing matters more than price for foreign buyers. Get your documents translated and verified before you start shopping, or you'll lose deals to cash buyers in this market.
ITIN loans work if you have US tax history but not citizenship. Foreign national loans don't require any US financial footprint—just international documents.
Asset depletion loans can work for foreign nationals with large US bank accounts. You might get better rates depleting assets than using foreign income verification.
DSCR loans make sense for clear investment properties where rental income covers the mortgage. Foreign national loans work better for personal use or properties you'll hold empty part-time.
Corte Madera's median price points require jumbo loan amounts, which means finding lenders comfortable with both foreign national status and high balances. That combination narrows your options significantly.
Marin County has strict regulations on short-term rentals. If your loan strategy assumes Airbnb income, verify local rules first—many Corte Madera properties can't be legally rented short-term.
Property taxes run higher in Marin than many international buyers expect. Factor 1.2-1.3% annually into your cash flow projections, plus potential Mello-Roos in newer developments.
Yes, but closing requires notarized signatures. Many lenders arrange mobile notaries or consulate signings. Some still require in-person closing.
Most lenders require opening US accounts before closing to set up payment. You'll need to transfer down payment funds 60 days before closing to show seasoning.
You can refinance into conventional loans with better rates. Most foreign nationals refi within 2-3 years once they establish US residency and credit.
Many carry 2-3 year prepayment penalties. Read your term sheet carefully—this affects your ability to refinance when you gain US residency.
No, US lenders only collateralize the US property. Your down payment must come from liquid funds you can transfer to US accounts.
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.