60% LTV Foreign National Jumbo Mortgage Loans 


All of the US Mortgage Loans in the amount of over $417,000 are classified and called Jumbo Mortgage Loans or depending on the loan amount Super Jumbo Mortgage Loans.  

At 1st Capital Group we offer a general mortgage consultation advice on those types of loans or depending on the mortgage program we can also offer Jumbo foreign national mortgage loan program and Super Jumbo loans thru our lending partners at up to 60% LTV. All Jumbo foreign national mortgages including Super Jumbo foreign national mortgage are offered as Adjustable Rate 3/1, 5/1, 7/1, 10/1 or in some cases 30 years fixed option is available. Borrower is required to place a minimum of 40% down payment and finance 60% of the purchase price.  Advantage of the Jumbo and Super Jumbo foreign national mortgage programs is that a concession of 6% of the purchase price for the foreign borrower closing cost can be negotiated with the seller and included in the purchase price. Jumbo loan amounts are up to $1.500,000. Super jumbo mortgage loans are in the amounts over $1,500.000 and up to $50M. Jumbo loans for foreign nationals are available for the purchases of the second homes, vacation homes or holiday homes only. Only single family residential properties and approved condominiums qualify. If you are purchasing a condominium please call us at 1-954-357-3838 or Contact Us to prequalify the condominium development.

Loan details:

·         Minimum 40% Down Payment

·         3.875% to 5.875% Interest rate (right now)

·         Term, 30 years fixed for 3/1, 5/1, 7/1, 10/1 ARM loans

·         Loan amounts up to $1.5M (Super Jumbo Loans available for loans over $1.5M) 

·         Par rate only

·         No prepayment penalty

·         Credit History Report not required (except for Canadian citizens in some cases)

·         Up to 6% seller contribution towards buyers closing cost allowed

·         1 unit single family residential property  eligible

·         Duplexes, triplexes and fourplexes  do not qualify

·         Condos eligible only  if FANNIE MAE approved or 70% sold and closed and conform to other FANNIE MAE guidelines

·         Reserves with the lender required (no hold on the money) Please call for details.

·         72 hours for underwriting

·         Closing on average 45 days

Here are the requirements for our foreign national jumbo loan program:

·         Copy of the purchase agreement

·         Completed Mortgage Application Required

·         Copy of passport with a valid US visa if required (B-1, B-2, H-3, I, J-1, J-2 or R-1)

·         3 personal Credit References (Credit card, Mortgage, Car lease, Landlord Letter, Utility bill)

·         If self employed accountant (CPA) letter or employer letter

·         Last 2 months bank statements showing enough funds for minimum of 40% down payment plus closing cost

·         Need to open checking account with US Bank (need direct debit set up for a mortgage payment)

·         Corporate title is not allowed
We can help with Credit reference, CPA or Employer sample letters.

 
Please do not hesitate to call or Contact Us as with any questions you may have. Also, if you wish to apply for mortgage or get pre-approved Click Here now for our quick online application.