Non-US Citizen Programs
Non-US Citizen Programs
Permanent Resident Alien (PRA)
Individuals who permanently reside in the United States.
Required evidence: Legible front and back copy of the borrower(s) valid Permanent Resident Alien Card (green card)
Same matrix as US citizen – they should have score but if not use 660.
Non-Permanent Resident Alien (NPRA)
Individuals who live and work in the United States.
Required evidence: Valid work VISA with an expiration date not within 2 years following the note date or an Employment Authorization Card along with a copy of the Petition for Non‐Immigrant Worker (form I‐ 140) (if the expiration date is within 2 years provide evidence employer is sponsoring or the borrower has been in the US for 5+ years)
Acceptable VISA types:
E
H
L
P
J
O
Other VISA types are accepted on an exception basis.
Same matrix as US citizen- they should have score but if not use 660
Foreign National Borrower (FN)
Individuals who are not a resident of the United States and does not permanently reside or work in the United States. Must have an unexpired passport from their country of citizenship.
Ineligible Residents of any country not permitted to transact business with US companies (as determined by any US government authority). Any translations required must be completed by a Certified Translator.
If closing is taking place outside the US it must be scheduled at the US Embassy or Consulate.
Primary – Not Allowed
2nd Home
- Foreign national hit on rate sheet
- No additional credit score/LTV hits
Investment
- Foreign national hit on rate sheet
- No additional credit score/LTV hits
Income
- Self Employed Foreign National
- A letter (on company letterhead) from a professional based in the borrower’s country of residence – Accountant/CPA/financial institution officer/licensed financial advisor verifying both the nature of the business and income figures for the last two years and year-to-date income figure. Must be translated into English by a certified translator (if applicable).
- Validation of the existence of the business through Internet webpage address, or business/operator license from a governmental office.
- Wage Earner Foreign National
- A letter (on company letterhead) from an authorized representative of the employer stating employment history (position/title, time on job), Year to date earnings and earnings for the prior two years. Must be translated into English by certified translator if (applicable).
Eligible Assets
- Assets held outside the US are eligible, must have a copy of their 2 most recent bank statements (bank statements must be translated into English, if applicable).
- US Assets provide 2 months recent bank statements.
- Gift funds are allowed – most recent bank statement of donor must be provided (translated into English, if applicable) and gift letter provided from donor.
Credit
- US credit not required.
- If no foreign credit report is available, the following can be provided: 3 credit reference letters translated into English with a 24-month history.
Vesting
- Vesting in a LLC is allowed but it must be a United States LLC and none of its members can be foreign entities.
