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Choosing The Best Mortgage With A Foreign National Loan

Foreign National Mortgage

A mortgage to a non-resident is called a Foreign National Mortgage loan. Down payment requirements are usually higher for foreign national borrowers. The minimum down payment is usually 20% of the total purchase price of the property. This is also referred to as an 80% Loan to Value “LTV” loan.

Types of lenders

The most common types of banks, lenders or mortgage companies to offer Foreign National Mortgage loans are those in and around major cities. These lenders are situated where there is a large foreign national population base due to high immigration rates.

Lenders do prefer a credit report from the home country, although some will take three credit reference letters from the borrower. The credit report is much like our own in the U.S. but without scores, as their scoring systems are different from our own. There are agencies in the U.S. that obtain the data, conform it to U.S. regulations and provide the background checks (verification of employment, verification of an existence of a company for the self-employed) ) and anti-money laundering, anti-terrorism, OFAC and red flag rules. 

Angel Oak Mortgage Solutions is comprised of a team of qualified mortgage professionals who provide programs specifically for consumers whose circumstances may not meet standard agency financing guidelines. With services available to brokers in more than 35 states, Angel Oak Mortgage Solutions is proud to serve as your team of non-agency lending specialists. To date, Angel Oak has funded the most in unit and dollar volume of true non-QM loans of any company in the nation. 

Angel Oak mortgage solutions can help

“We’ve been doing this for a long time now,” SVP of Sales, Hutchens said. “We’re coming up on five years. We only do non-QM, non-agency – exclusively. We believe that because we’re an exclusive non-QM lender, we’re an expert. That sets us apart —  along with the fact that we’re a full, vertically integrated firm.  

Angel Oak Mortgage Solutions stands out by being the #1 non-QM lender in the nation as of 2018. We offer correspondent alternative mortgage lending programs to help your borrowers who may not meet general agency financing guidelines. With our guidance, you’ll be able to expand your product offering and grow your business with our tailored programs.

We offer a number of alternative mortgage lending programs geared toward correspondent mortgage lenders

What we offer in our Foreign National Program

  • Up to 75% LTV
  • No U.S. credit required
  • Fewer country restrictions
  • DTI up to 50% considered
  • Investment properties
  • SFRs, townhomes, condos, 2-4 units
  • No SSN or ITIN required
  • 12 month reserves required
  • 5/1 ARM or 30-year fixed
  • Loans up to $750,000 (minimum $75,000)
  • Seller concessions to 2%

Download our Correspondent Package:


About Angel Oak Mortgage Solutions

Angel Oak Companies is an industry leader in delivering innovative mortgage credit solutions. Through our integrated platform, we deliver solutions across asset management, mortgage lending and capital markets.
Angel Oak Mortgage Solutions offers a breadth of alternative lending products to allow our clients to grow their business and better serve their customers. We re-connect qualified home buyers with the investor community to create a win/win/win for the borrower, originator and investor. As a highly entrepreneurial organization, we are able to quickly adapt to the needs of our clients and embrace a strong service-based culture.
Angel Oak Mortgage Solutions currently offers alternative correspondent mortgage lending services across Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, New Jersey, New Mexico, Nevada, North Carolina, Oklahoma, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin.