Foreign national loan program C offers a streamlined & expedited process of obtaining an international mortgage loan for real estate investment or cash-out.

Property Types – Single Family and Condominium (Condo reduce LTV by 5%) –
Occupancy – 2nd Home, vacation home, home-to-let or Investment property
Loan Amounts – $200,000 to $5M
Loan Purpose – Purchase & R/T, Cash out refinance – OK!
Loan to Values – (LTV)
– 70% LTV (purchase) –
– 50% LTV for cash out loan requests
* New construction condominiums or Town homes have a maximum LTV of 65%

DOCUMENTATION REQUIREMENTS:
1. 1003 application
2. Income and Employment
– Self Employed
I. CPA/Accountant letter verifying income for the last 2 years + yr to date
– Salaried
I. Letter from Employer or most recent pay stub
3. Credit –
– 1 letter of reference from banking or financial institution showing at least 24 months relationship and status of relationship
– International Credit report required by foreign borrower orignating from – United Kingdom, Ireland, Canada
4. Purchase Sales contract
5. Reserve requirements are 24 months of principal, interest payments and property taxes and insurance ( HOA if applicable)
6. Mortgage verification (if applicable) – including statements for other owned properties
7. Copy of leases for all rental & income producing properties.
8. Copy of passport

OTHER INTERNATIONAL LOAN QUALIFICATION PARAMETERS:
 Backend qualifying ratio cannot exceed 40%
 Max seller contribution allowed is 6%
 New condominiums must be 50% closed
 Corporate Title acceptable (shell corps ineligible)
 No Escrow Waivers allowed
 Financing Available in Miami-Dade, Broward, Palm beach and Monroe Counties and Naples, Marco Island, Bonita Springs, Bonita Island, Stuart, Jupiter Island & Vero Beach
 All loan must establish an ACH auto debit account with the bank
 Prepayment penalties are:
– 3% – Yr 1,
– 2% – Yr 2,
– 1% – Yr 3
 Cash to close and reserves must be in a US bank
 No CLTV allowed
 Maximum Broker & Lender Fee paid cannot exceed 5%.

click HERE To return to main Foreign national page to review other international loan program options

GUIDELINES TO FOREIGN NATIONAL LOAN PROGRAM B:
Loan purpose: Purchase or Refinance
Loan amount: Minimum – $75,000 USD
Maximum loan amount – $750,000 USD
Loan to Value: Maximum 50%
Property Types: Single Family Residence, Condominium, Town home, 2-family, 3-family, 4-family
Lending Area: Florida only (Miami-Dade county, Broward County and West Palm beach county)
Loan terms available: 3 & 5 yr Arms
Interest Rates: Call or Email us for today’s Interest Rates at info@royalcapitalgroup.com
Occupancy 2nd home, Vacation home, Investment property, property to let, real estate investment
Amortization: 30 years

FOR APPLICANTS WHO ARE SELF-EMPLOYED, ENTREPRENEURS or BUSINESSMEN (with Significant Shares in Company) and/or SALARIED:
 2 months banks statements from source account – Verification of 6 months reserves + 3 months income (Must be in US account prior to closing)
 CPA letter declaring 2 previous years income + yr to date income
 Appraisal to be order by bank – Must submit loan package with appraisal fee of $400
 Foreign nationals require 3 credit reference letters (1 must be from banking) – all reference letters should refer to a minimum of 24 months history.
– A letter of reference from US or country of origin financial institution; dated, on bank or company letterhead, address and contact information as well as full name and telephone of issuing person, signed.
– 2 x Credit reference letters from country of origin; dated and on bank or company letterhead, address and contact information as well as full name and telephone of issuing person, signed.
– Alternatively; a foreign factual credit report is acceptable with equal tradelines and history
 3 months credit card statements

Other loan qualification parameters:
 Max DTI = 42%
 Index is the 1 year LIBOR
 Margin is 3.50%
 Corporate title not allowed
 Copy of passport + 1 other gov. issued ID
 Max investment properties allowed = 5
 No power of attorney allowed
 Condos to be reviewed before final approval – New construction – 40% of units must be sold and closed (must complete questionnaire)

Documents can be delivered to Royal Capital Group via fax or e-mail. Please do not hesitate to contact us with any additional questions.

Fax: 888 748 2719 or Email: info@royalcapitalgroup.com

Due to recent changes in the real estate market , foreign nationals have identified Florida as a great opportunity for real estate investments. Our focus is to help our international clients realize that goal. Royal Capital Group offers speciality loan programs to foreign national investors or international companies seeking financing in the Florida real estate market as well as in other select other US states (see Program A). Royal Capital Group process is specially designed for Foreign National in order to streamline and expedite the process of obtaining a loan. Email us at info@royalcapitalgroup.com for a Foriegn national loan application to get started. We suggest that you allow between 30 – 45 days from submission to obatin funding.

GUIDELINES FOR FOREIGN NATIONAL LOAN PROGRAM A:
Loan amount: Minimum – $200,000 USD
No Maximum loan amount
Loan to Value 50% – Florida
60% – Califonia, New York, Colorado, Neveda, Connecticut
Loan term Quarterly adjustable term
Interest Rates Call or Email us for today’s Interest Rates at info@royalcapitalgroup.com
Occupancy 2nd home, Vacation home, Investment property, property to let, real estate investment
Amortization Determined by teh difference of current age and maximum of 70 years old.
Adjustment Increase of .25% if closing in a corporate name

LOAN DOCUMENT REQUIREMENTS:

(A) FOR APPLICANTS WHO ARE SALARIED EMPLOYEES / PROFESSIONALS:
1. Completed and signed application form – (I will complete based on submitted 1003)
Copies of –
2. Passport – (photo and signature pages)
3. Latest 2 years tax assessments (issued by Inland Revenue) and/or pay slips.
4. Employment contract or letter from employer giving details on current salary,
allowances, bonus, etc.
5. Latest month’s bank (deposit/investments) statements of principal accounts.
6. Tenancy agreements or rental statements or bank statements for the all properties
enjoying rental income. – If applicable
7. Website address of employer.
8. *Details of property to be purchased e.g. booking form, sales & purchase agreement.
9. *Latest mortgage statement from current lender showing repayment record and
current loan outstanding. – For refinancing cases.

(B) FOR APPLICANTS WHO ARE SELF-EMPLOYED/ ENTREPRENEURS/
BUSINESSMEN (with Shares in Significant Company)

1. Completed and signed application form
Copies of –
2. Passport – (photo and signature pages)
3. Latest 2 years personal tax assessments.
 6 Bank statements in lieu of personal returns (if they do not exist in country of origin) that reflect the income deposits.
 Yr to Date profit and Loss statement
4. Audited business accounts for the last 2 years.
5. Latest month’s bank (deposit/investments) statements of principal accounts.
6. Tenancy agreements or rental statements or bank statements for the all properties
enjoying rental income
7. Profile / Brochure / Website of employer giving information of what the company does,
history, number of staff (local office/international), major clients/projects, etc.
8. *Details of property to be purchased e.g. booking form, sales & purchase agreement.
9. *Latest mortgage statement from current lender showing repayment record and current
loan outstanding for refinancing cases.

(C) FOR CLIENTS WHO ARE BORROWING IN THE NAME OF A COMPANY
In addition to documents required under (A/B) above, we need certified true copies of –
1. Memorandum & Articles of Association
2. Business Registration/Certificate of Incorporation
3. Register of Shareholders and Directors

Documents required before loan drawdown:
– Latest utility bill to verify home address.
– *Existing tenancy agreement & fire insurance policy for property to be refinanced.