BASIC REQUIREMENTSAssets Held / Foreign Accounts:• Must be verified in U.S. Dollar equivalency at the current exchange rate via www.XE.com or the Wall Street Journal conversion table.• Funds to close must be on deposit 3 days prior to closing date• A copy of the two (2) most recent bank statements of that account. If the funds are not seasoned a minimum of 60 days, a letter of explanation is required along with the information to comprise a 60 day chain of fundsCredit References: • A U.S. credit report with at least 2 trade lines with minimum age of 2 years for one trade line, or;• An international credit report is required if a U.S. credit report cannot be produced, or;• An original credit reference letter from an internationally known financial institutionClosing Requirements:• All loans must be closed with a title and closing agent approved and/or vetted by CSC• Power of Attorney is acceptable provided it conforms to CSC requirements and is acceptable to the title company• Documents signed outside of the U.S. may be notarized by a U.S. embassy or consular official. The certificate of acknowledgement must include the embassy or consular seal and be acceptable to the title company• For documents signed in a country that is party to the “Hague Convention Treaty Abolishing the Requirement of Legalization for Foreign Public Documents” a certificate of acknowledgment completed and signed by a notary public authorized or commissioned to perform such duties plus authentication by apostille in English and attached to the executed documents and certification of acknowledgement with title company acceptance is agreeable to CSC.• Executed W-8 (BEN) IRS formDISCLAIMER: Although we are direct lenders, we may utilize secondary market investors for some programs. 1st Florida Lending dba/ 1 Florida Lending, reserves the right at its own discretion to change program guidelines based on the availability and cancel any loan program, including those being processed. Loans in this product cannot and will not be locked until the loan has been approved by underwriting.
Adjustable Guidelines • Primary Residence: Purchase, Rate & Term, Cash Out• Second Home: Purchase, Rate & Term, Cash Out• Investment Property: Purchase, Rate & Term, Cash Out• Down Payments as low as 30% • Rates (call us) • Fixed rate terms (10, 15, 20, 25 & 30)• Adjustable rates (5/1, 7/1 10/1)• Non-Warranted Condos and townhouse are eligible• Second home financing• Can close in an LLC• Self-employed okay • No pre-payment penaltiesPlease Note: We have several different lending programs available and only post the most popular.
A Loan Program That Will Put You in Demand Non-citizen residents who have the qualifications, resources, and motivation to purchase a permanent home in the United States have helped propel domestic real estate markets in tough times. We offer serveral different Foreign National Lending Programs designed to put home ownership in reach for qualified non-citizen residents seeking to put down roots in the United States. Our proprietary program offers flexibility, fewer restrictions and our signature stability and service that sets us apart from other lenders