Skip to content

FOREIGN NATIONAL LOANS

OVERVIEW

  • Our Foreign National loan is for non-US citizens who cannot produce the documentation required for bank funding
  • The loan is intended to be for investment properties or vacation homes; not intended for primary residences
  • The loan allows the borrower to get funding and close on the property fast
  • Given the light document requirements, substantial equity in the property is required
  • We are able to provide a commitment letter on the same day
  • Funding within 7-10 days

RATES

  • Starting from 6% annually
  • Interest only option available
  • 2% origination fee

LOAN TERMS

  • 1 year term standard
  • Multi year term is also available
  • 6 month extension is available at maturity
  • We fund 100% of rehab
  • Generally, we require to be in a first lien position.  We will consider a second lien on a case-by-case basis at low LTVs
  •  
  • New appraisal to be ordered by The Mutual Finance Company
  •  
  • Can accept existing appraisal on a case-by-case basis
  •  
  • Lender title insurance must be obtained
  •  
  • Insurance policy (TMFC should be loss payee and additional insured)
  •  

Nationwide