The Low down on

Foreign National Program

A Foreign National mortgage loan is for a borrower that has a visa or resides in a Visa waiver country. The borrower must live and work in a foreign country and cannot live or work in the US. The borrower qualifies under the DSCR program and qualifies on how the property cash flows. The foreign national program includes non-owner-occupied residences only. This program allows Purchase, refinance, and cash-out transactions.

A larger down payment is usually required for a Foreign National loan, but the percentage will vary depending on the borrower’s specific financial circumstances. Each lender has their own guidelines to determine the LTV requirement.

Benefits of foreign national mortgages

A foreign national mortgage loan offers borrowers unique advantages.  Here are some of the key features:
  • Having the ability to finance second homes and investment properties
  • Obtain loans of up to $5 million (Lender Specific)
  • Condominiums without warranties can be financed
  • Low debt service ratio can be available for investment properties (Lender Specific)
  • No U.S. FICO is necessary

You ask, we answer

We know the mortgage process can be tricky. Here’s some questions people like you have asked us in the past.

At Channel Mortgage, we are dedicated to providing you with a comprehensive online platform for tailored mortgage solutions. Our commitment to integrity ensures that you receive prompt customized quotes and competitive rates. With our user-friendly tools and expert guidance, we strive to simplify the home loan process and assist you every step of the way. Experience a smoother journey towards homeownership with Channel Mortgage.

Channel Mortgage proudly holds the esteemed position of being a diamond partner with the nation’s largest wholesale purchase lender. This partnership translates into remarkable advantages for you, including the quickest turnaround time and access to an exceptional platform that ensures a consistent and successful loan closure. With an average closing time of just 12 days, we prioritize efficiency without compromising quality.

Safeguarding your personal information is of utmost importance to us. We prioritize the highest level of security measures by employing bank-level encryption and conducting continuous monitoring of our website to ensure its safety. Rest assured, we are committed to never selling your data or utilizing it for any purpose other than assisting you succeed.

Mortgage rates are subject to daily fluctuations and are influenced by individual circumstances. However, by initiating your application online, you will consistently receive our most competitive rates. Take advantage of this opportunity to access today’s rates and learn how rates are trending: get your free quote today!

Channel Mortgage is best for people who have a credit score of 620 or above and are ready to buy, sell, refinance, or build their dream home.

Do You Qualify?

To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “43/49.” This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 4 late payments.