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Foreign National Loans in Burlingame
Burlingame's position on the Peninsula attracts international investors seeking stable real estate markets near Silicon Valley and San Francisco. Foreign national loans make US property ownership possible without traditional credit or immigration requirements.
This Non-QM loan program serves non-US citizens and non-permanent residents who cannot qualify through conventional channels. The proximity to tech companies and international business hubs makes Burlingame particularly appealing to overseas buyers.
These specialized mortgage programs recognize that international buyers bring substantial financial resources even without US credit histories. Properties near Burlingame Avenue's retail district and downtown core remain especially popular with foreign investors.
Foreign national loans typically require 30-40% down payments, significantly higher than conventional programs. Lenders assess creditworthiness through international credit reports, bank statements, and asset documentation from your home country.
You'll need a valid passport and visa documentation, though permanent residency isn't required. Proof of income often comes from foreign bank statements, employment letters, or business documentation translated into English.
Most programs focus on investment properties rather than primary residences, since foreign nationals typically don't occupy US homes full-time. Strong cash reserves and documented assets strengthen your application considerably.
Not all lenders offer foreign national programs, making specialized mortgage brokers essential for this loan type. Portfolio lenders and private lending institutions serve this market more readily than traditional banks.
Interest rates run higher than conventional mortgages due to perceived risk and limited secondary market options. Rates vary by borrower profile and market conditions, with factors like down payment size and property type affecting pricing.
Some lenders require US-based bank accounts be established before closing, while others work with international banking relationships. Processing timelines often extend beyond typical mortgages due to additional documentation verification.
Working with a broker experienced in foreign national transactions saves time and prevents costly mistakes. We maintain relationships with lenders who understand international documentation and can efficiently verify overseas assets.
Organize your financial documents before beginning the process, including bank statements from the past 12-24 months and proof of funds for down payment and reserves. Translations may be required for documents in other languages.
Consider entity structure carefully, as some international buyers purchase through LLCs or trusts for tax and liability purposes. Coordinate with tax advisors familiar with US property ownership by foreign nationals before finalizing your purchase strategy.
Cash reserves beyond the down payment strengthen applications significantly. Lenders want to see 6-12 months of property expenses in liquid accounts, demonstrating your ability to manage the investment regardless of rental income.
Foreign national loans share similarities with ITIN loans, though ITIN programs require US tax identification numbers while foreign national loans don't. Both serve non-traditional borrowers who can't access conventional financing.
Asset depletion loans offer another alternative for high-net-worth international buyers, calculating income from investment accounts rather than traditional employment. DSCR loans work well when purchasing rental properties, as they qualify based on property cash flow.
Bank statement loans may work for foreign nationals operating US businesses, though most international buyers find dedicated foreign national programs more straightforward. Each Non-QM option has distinct advantages depending on your specific circumstances and investment goals.
San Mateo County's international business connections through SFO Airport and Peninsula tech companies create natural foreign investment interest. Burlingame's walkable downtown and strong school district appeal to international families considering future US residency.
Property values in Burlingame remain relatively high compared to other Bay Area markets, requiring substantial capital for down payments. The city's limited inventory means international buyers often face competition and need pre-approval to act quickly.
Peninsula real estate historically shows strong appreciation and rental demand, making Burlingame attractive for long-term investment strategies. Proximity to major employers provides tenant pools for investors using properties as rentals.
California's landlord-tenant laws require understanding before purchasing rental properties. International investors should familiarize themselves with local regulations or hire property management companies experienced with Peninsula markets.
Many lenders allow remote closings through power of attorney, though some require in-person signing. Your mortgage broker can coordinate with title companies offering international buyer services and mobile notaries if needed.
Most programs require 30-40% down, though some portfolio lenders may accept 25% for exceptionally qualified borrowers. Higher down payments often secure better interest rates and terms.
These loans primarily serve investment properties, though some lenders consider second homes. The distinction affects rates and terms, so clarify your intended use during the application process.
Expect 45-60 days from application to closing due to international document verification. Starting document preparation early and working with experienced brokers helps minimize delays and ensures smoother transactions.
Currency exchange risk affects your purchasing power and down payment amounts. Many international buyers lock exchange rates or transfer funds early to US accounts, protecting against fluctuation during the transaction period.
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.