It’s difficult to get a mortgage in the US as a non-US citizen, but with the right strategy, it’s possible. At LBC Mortgage, we specialize in taking non-US citizens through the US mortgage process, and our expertise ensures you get the best terms and save money in the process.

Knowing the Challenges Facing Non-US Residents

Non-US residents typically have tougher loan terms. The banks and lenders view applicants as higher-risk customers with no credit history in the US. That means larger down payment requirements, higher rates of interest, and fewer financing opportunities.

We know how to sidestep those barriers at LBC Mortgage. Our years-long relationships with the lenders allow us to work with them to agree on beneficial loan terms and negotiate competitive interest rates for non-US residents.

Build a Strong Financial Profile

A good financial profile improves the chances of approval with good loan terms. Your income, deposits, and debt-to-income ratio are considered by the lenders.

Create an International Credit Report

Although you have no US credit history, you can submit an international credit report. Most US lenders will consider a credit report from a legitimate agency from back home. We lead you to compile and present the information correctly at LBC Mortgage.

Adopt Healthy Debt-to-Income Proportions

Lenders like the debt-to-income (DTI) ratio to be less than 43%. To enhance your prospects, minimize outstanding debts and refrain from acquiring new credit obligations prior to getting a mortgage. We walk you through the procedure to assist you in meeting this condition.

Raise Your Down Payment

Putting down more as a down payment reduces the lender’s risk and can get you a better loan term. Foreigners typically are required to pay a minimum of 20% down. Paving the way for a greater down payment with savings can allow you to borrow at a reduced interest rate and avoid paying private mortgage insurance (PMI).

Choose the Correct Loan Type

There are multiple loans that exist for foreigners. Choosing the right one can cost you thousands over the life of your loan.

Foreign National Loans

Foreign national loans are specially provided to non-US citizens who have no credit history in the US. These loans require higher down payments and have slightly higher interest rates but are extended to stubborn borrowers.

Portfolio Loans

Portfolio loans are held by the lender instead of being sold on the secondary market. This allows lenders more flexibility when it comes to approving non-traditional borrowers. We negotiate with lenders who offer portfolio loans on behalf of non-US residents to secure better terms.

Adjustable-Rate Mortgages (ARMs)

ARMs start with a lower rate that will adjust after a certain period. This is best for borrowers who will refinance or sell within a short period. We help you decide whether an ARM will suit your financial goals.

Work with an Experienced Mortgage Broker

Knowledge is required to conduct business in the US mortgage sector as a non-US purchaser. At LBC Mortgage, we specialize in aiding foreign buyers with securing financing in the most attractive terms.

Availability of Special Loan Programs

We have special loan programs provided through lenders for use by non-US buyers. Our loan programs provide better rates and more lenient terms compared to standard mortgages.

Efficient Application Process

Our professionals handle the complexity of the application process, from document gathering to lender coordination. We simplify and remove the stress of navigating ambiguous requirements.

Negotiating the Best Rates

Our mortgaging experience gives us negotiating leverage when we negotiate with lenders. We negotiate favorable rates and terms that save you money over the life of the loan.

Minimize Closing Costs

Closing costs increase, but careful planning keeps them low.

Obtain a Loan Estimate Early

A loan estimate outlines your mortgage’s closing costs and fees. Looking at this document in advance, you will have the opportunity to notice unnecessary fees that you can negotiate out. We help you shop loan estimates for the lowest one.

Choose a No-Closing-Cost Loan

Some lenders offer no-closing-cost loans with a slightly higher interest rate. Refinancing or selling the house within a short time may prove to be cost-saving under this option. We examine if this will suit your personal finance objectives.

Close at the End of the Month

Closing at month’s end is cost-saving since it reduces the prepaid interest you pay at closing. This small adjustment can save you hundreds of dollars.

Avoid Hidden Fees and Negative Terms

Hidden fees or negative terms may be charged by some lenders that increase your long-term costs.

Review the Loan Agreement

Read the loan agreement thoroughly for hidden fees, prepayment penalties, and adjustable rate terms. We examine loan documents to protect you from unexpected charges.

Steer Clear of Foreign Exchange Fees

If your funds are held in a foreign currency, exchange rate fees can increase your costs. We recommend sending funds strategically to cut exchange rate losses.

Budget for Property Taxes and Insurance

Foreigners are subject to the same property tax and insurance requirements as US citizens.

Know Local Tax Rates

Property tax levels vary by state and county. Understanding the local tax structure helps you budget appropriately. We provide guidance on how to find your way through local tax obligations.

Choose the Right Insurance Coverage

Home insurance protects your investment from damage and liability. Some lenders require certain levels of coverage. We help you find affordable insurance that meets lender requirements.

Why LBC Mortgage Is the Best Choice for Non-US Residents

At LBC Mortgage, we specialize in helping foreign residents secure financing on the best possible terms. Our extensive experience in the US mortgage market enables us to see problems and eliminate them before they become a problem.

International Financing Expertise

We specialize in facilitating loans for foreign residents. Our specialists are aware of the paperwork, the legalities, and the finance details involved.

Personalized Solutions

Every client’s financial situation is unique. We tailor our loan recommendations to meet your particular needs and financial circumstances.

Saving You Money

Our goal is to save you money in the first payment and over the term of the loan. We negotiate good rates, minimize closing costs, and seek to reduce expenses.