Foreign national home loans

Anyone who is considering making an application must be in the United States legally. This means that either a passport or a work visa will be needed and verified for proof. Foreign national home loans do not require a credit check and the applicant does not need to have any type of social security number. However, a foreign national home loan does require a substantial down payment. Compared to the regular loan down payment of 20%, a foreign loan usually requires between 30 and 40%. The applicant needs to make sure that the funds are being held at the bank where this type of financing is offered.