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Foreign National Loans in National City
National City sits 5 miles from the Mexican border, making it a natural entry point for international buyers. We see steady demand from Mexican nationals and Asian investors targeting San Diego County real estate.
Foreign national loans don't require US credit history or residency status. You prove income through foreign bank statements or asset reserves, not W-2s or tax returns.
Most lenders require 30-40% down for foreign nationals in National City. Expect rates 1-2% above conventional mortgages due to non-QM pricing.
You'll need a valid passport, proof of foreign income, and funds from a verifiable international bank. Some lenders allow LLC purchases for privacy or tax planning.
Only 15-20 lenders in our network handle foreign national loans. Each has different country restrictions — some won't lend to Chinese nationals, others exclude sanctioned countries.
Underwriting takes 45-60 days versus 30 for conventional. You need translated bank statements, apostilled documents, and sometimes notarized income letters from foreign employers.
Mexican nationals have the easiest time financing National City properties. Border proximity means lenders understand Mexican banking systems and accept peso-denominated income.
Watch out for currency exchange requirements. Some lenders require USD conversion 30 days before closing, others accept wire transfers in foreign currency. This creates timing risk if exchange rates move.
If you have an ITIN and US tax returns, ITIN loans offer better rates than foreign national programs. Same if you can show 12 months of US bank deposits — bank statement loans typically price 0.5% lower.
Foreign national loans make sense when you have no US financial footprint. Once you establish US credit or income history, refinance into a cheaper product.
National City's proximity to Tijuana creates unique appraisal challenges. Some lenders cap loan amounts at $1.5M here, pushing larger deals to adjacent cities.
Investment properties dominate foreign national purchases in National City. Lenders scrutinize rental income projections closely — bring comparable lease data to support your underwriting.
Yes, foreign national loans don't require SSN or ITIN. You use your passport as primary identification for the entire transaction.
Expect 30-40% down minimum. Higher down payments sometimes unlock better rates, but 40% is typically the ceiling for pricing breaks.
Yes, rates run 1-2% above conventional mortgages. Non-QM pricing reflects higher perceived risk and limited lender competition.
Absolutely. Most foreign buyers here purchase investment properties. Lenders underwrite using projected rents and your foreign income reserves.
Plan for 45-60 days. Document translation, apostille verification, and foreign bank confirmation 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.