Luxury Mortgage Blog

As you are likely aware, the state of the mortgage market has changed considerably in the past few months.  First off, very few lenders still offer Foreign National or Non-Permanent Resident financing.  If you are a Foreign National or Non-Permanent Resident your available options have decreased considerably and you need to be aware of your options. 

Here are the Non-Permanent Resident Aliens that qualify:

• Non-Permanent Resident Alien with Employer Sponsored VISA (no limit on US residency)
• Non-Permanent Resident Alien with Non-Employer Sponsored VISA (must have 1 year US residency)
• Able to verify probability of maintaining employment where currently employed for a minimum of three years
• Copy of Visa required
(Non-Permanent Resident Alien not meeting these requirements must be underwritten as a Foreign National, see below)

Next, lets define which Foreign Nationals Qualify:

• A citizen of a country other than the United States, who does not work or live in the US, however, periodically visits the US and who is buying a second home in which to reside during these visits, or a Non-Permanent Resident Alien who does not meet the requirements as stated above.  (Foreign Nationals with diplomatic immunity are not eligible for financing)

For both options above, Luxury Mortgage Group has the ability to loan up to 80% loan-to-value on luxury high rise condos and homes.  If you are financing a condotel unit you are in luck.  As of 12/1/2007, Luxury Mortgage Group is the ONLY lender in Nevada still offering financing for Foreign Nationals on condo-hotel units.  Condotel units are limited to 65-70% LTV for Foreign Nationals.  Click here if you would like to read more about our condo-hotel mortgage programs.

Contact Information:

Jason Fox - President
Luxury Mortgage Group, LLC – Corporate Office - (702) 444-0400
101 Convention Center Drive, 10th Floor, Suite 1004, Las Vegas, NV 89109

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Posted in Condo-Hotel Mortgages · Foreign National Financing · National · Nevada4 Comments