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Non-QM 101: Foreign National Loans

June 14, 2023
Learn how LendSure’s Foreign National Loan Program can help you expand your borrower network and reach new clients outside the U.S.

Mortgage pros – are you looking to expand your borrower network to reach new clients beyond U.S. borders? Foreign National Loans may just be the thing you need to help you take your mortgage business to the next level.

In case you didn’t know: Foreign National Loans are an alternative non-QM mortgage solution for non-U.S citizens who want to finance a second home or an investment property in the United States. It’s typically harder for these individuals to secure funding, but it’s not impossible – especially if you’re working with the right lender.

By adding Foreign National Loans to your business portfolio, you can also stand out from the competition and become a more trusted source for borrowers who require alternative financing options.

Think about it: There are countless loan officers just like you across the country that may offer alternative lending solutions, but don’t specialize in this market segment. Not only will this loan program allow you to access a new market and reach different types of borrowers from all over the world (think China, Canada, India, Mexico, the UK, and more!), you’ll also be able to gain a major competitive advantage in the industry.

Interested in incorporating this Non-QM solution into your offerings? Here are three ways LendSure’s Foreign National Loan Program can make a difference for you and your clients:

Flexible Underwriting
While applying for foreign national loans is generally a daunting task with all the paperwork and strict requirements, our team at LendSure makes the process easier by offering reduced doc options. And, our common sense approach to lending means that our highly experienced team will work with you to make the process as easy as possible.

For one, we don’t require borrowers to submit domestic credit scores. Instead, we accept foreign credit reports or even credit reference letters to qualify them. We also don’t require tax returns. In fact, there are two documentation options for Foreign Nationals.

For those who are looking to secure the lowest rate, we offer a Full Doc solution. LendSure unique rental income calculation method may result in a lower DTI and a lower interest rate.  Unlike conforming loans, LendSure subtracts their monthly net rental loss from their total monthly debt. Click this video to see how.

Your clients can also opt for our DSCR solution if they need more flexibility. Instead of submitting income documentation, our team utilizes a DSCR-based underwriting system where we analyze the property’s cash flow to determine eligibility. Click here for a quick explanation of our process.

Better Terms
It’s not just about flexible underwriting, our team at LendSure also wants to make sure you’re giving clients the best possible loan option for their investment properties. With our Foreign National Loan Program, borrowers can secure loans as high as $1,000,000 and cash out up to $500,000.

Depending on your client’s mortgage needs, we may even approve higher loan amounts. Additionally, they can take advantage of high LTVs, competitive rates, and faster funding times (usually 7 days or less).

If your clients want to maximize their monthly cash flow, they can also opt for our 10/40 Fixed Interest-Only solution, where they can qualify for 10 years of interest-only payments on a 40-year term.

Keep in mind – our Foreign National Loan program is only available for second homes and investment properties, not primary residences.

Top-Tier Service
When working on a Foreign National Loan, you’ll often deal with paperwork in different languages and may have to navigate additional documents depending on your client’s employment status.

We get it – the work adds up. That’s why at LendSure, we’ll walk you through the entire process. We’ll help you navigate any complexities to ensure you have a smooth process from submission to closing.

Plus, we also provide custom marketing resources (think flyers, email templates, and social graphics) that will help you reach new customers and start generating new business right away. Contact your Account Executive today to get access to these exclusive partner perks!

The LendSure Way

It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers and ratios, and data to consider, but we know that behind every file, there’s an individual with unique circumstances seeking a loan.

We work hard to offer our commonsense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio, or refinancing of a currently owned property.

Are you ready to grow your business? Conforming loan approval guidelines can be restrictive, but we want to offer our mortgage broker partners the education, tools, support, and guidance they need in order to say “yes” to more of their clients. This ensures happy borrowers and opportunities for bottom-line growth. What are you waiting for? Let’s get started!

Are you ready to benefit from a commonsense approach to lending? Contact us today to learn more about non-QM loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line. 

Contact Us: (888) 707-7811