Which mortgage company offers home loans to foreign nationals?

Question by NorthernVirginia: Which mortgage company offers home loans to foreign nationals?
I would be identical grateful if you could provide me with contact information of mortgage brokers who could help me with my requirement. A-2 visa holder with excellent credit – over 770 is looking for housing financing in Northern Virginia.

Best answer:

Answer by Monika Wilson
you should not have any problem to get financing for Real Estate in the US. Foreign nationals are normally required a downpayment of around 25% but since you have an established credit in the US you are probably almost treated (on lender’s site) like an American Citizen. Talk to any local Bank or Mortgage Broker, they will be able to help you.

Know better? Leave your own answer in the comments!

Federal Loan Modification Plan Offers Relief For Homeowners – Who Qualifies?

Federal Loan Modification Plan Offers Relief For Homeowners – Who Qualifies?

Government loan modification that has certifying counseling agencies as well as local community service agencies grant they have been flooded by demand for loan modification. The demand has opened the for loan modification services now provides with lenders, real estate agents, attorneys, mortgage brokers, government agencies, and other professionals. The demand stems from a proliferation of federal, state and local foreclosure relief and help efforts from both government as well as the lending industry. Loan modification has been around for years; however those current efforts have raised the profile of the mortgage workouts as an option to foreclosures, auctions, and short sales along with bankruptcy.

Nevertheless, homeowners looking out for federal loan modification are at the mercy of lenders as the workouts are unpaid and often without rigid standards. The individual countrywide loan modification programs, fixed in the tilt, homeowners are facing it tough to understanding as a loan modification would work and how to get best one.  

Loan modification

A home loan modification, granted only upon the present lender’s approval, endearingly revise some of the terms of a present mortgage so as to make the loan more affordable to the homeowner.  The plan is normally intended for homeowners stressed to pay their mortgage, not for those who could pay their mortgage or are qualified for a refinanced loan.

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A loan modification is normally lender fee-free and includes the lender or loan holder lowering the rate of interest and or changing an adjustable-rate mortgage (ARM) to a fixed rate mortgage (FRM) with a 30-year term. Some form of mandated home ownership counseling generally comes with the deal. Countrywide loan modification is an example of this. Less common loan modification includes adding missed payments to the loan balance and extending the term of the loan. Least common is getting the lender to lessen the principal or pay out any second mortgages. A mortgage loan modification isn’t a refinanced mortgage a brand new loan written to repay off the old home loan.

A loan modification may not be feasible if:

•    The modified loan comes with payments that you can’t afford.

•    Your existing interest rate is already low and there’s no room for the lender to lower it more.

•    You could make the new payments, however the mortgage balance is greater compare to the value of your home and you don’t plan on staying put long sufficient to reverse the loan-to-value inequity.

•    You have not previously missed payments on your mortgage or can’t show financial hardship due, say, to joblessness, pay low, illness or interest rate increase.

•    You have added properties, investments or assets which could be settle to cover your mortgage debt.

•    A short sale. The lender excuse a part of the debt owed if you could find a buyer, bankruptcy, auction sale, refinance or added approach, short of a foreclosure, is a better alternative.

A financial, housing or credit counselor could assist you to decide your best alternative. Also check your free credit report. Just be prepared to hold down the fort for the 60 to 90 days or more it could take to complete the loan modification, because of potential complications and document processing times.

BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

Encinitas, CA (PRWEB) August 29, 2006

BD Nationwide Mortgage introduces a smart home equity loan that can separate into several loans with both fixed and adjustable rates. BD Nationwide has released a new home equity product that boasts of a convertible home equity line of credit offering options for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This unique home equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate home equity loans. Another key feature is that these second mortgages allow you to keep the unused portion of the home equity line open, while fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open end line of credit)

Conversion options are available to convert a portion or all of the home equity line balance to a fixed interest rate home equity loan. This program allows you to convert HELOC portions to fixed rate loan eight times during the draw period.

Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances may be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance options are based on the balance requested.

Lynda Nelms, a Sr. Loan Officer and Mortgage Consultant at BD Nationwide, said, “This is a progressive loan that allows my borrowers to be savvy using their home equity when they see fit, while converting adjustable rate interest into a fixed rate second mortgage with a simple interest amortization.” Nelms continued, “These days I find homeowners need cash out for debt consolidation or home improvements, but they already have a large second mortgage.”

The Fixed Rate HELOC Conversion Program enables our clients to refinance and convert their existing line of credit into a fixed rate second mortgage, while opening up an additional revolving credit line they can access later. This home equity conversion loan is a great solution for the recent dilemma of refinancing jumbo home equity loans that seem to be so common with million dollar homebuyers. BD Nationwide Mortgage Company has partnered with many of the nations leading home equity lenders.

Home Equity Line of Credit Draw Period : 10 years
Second Mortgage Rate is a Variable Rate ( WSJ prime interest rate index plus margin)

Home Equity Loan Terms: 15, 20, 25 or 30-years
Second mortgage rates are fixed interest rates (fixed interest based on market conditions on the conversion date)

Home Equity Loan Repayment Terms:
Borrower may request a fixed rate advance from the customer pitied dept. after the lender funds the loan.

Fixed Rate Advance Option: Fixed-rate advance options can initially be requested by loan officer at the time of disclosures.

To learn more and get additional loan information, please visit: Second Mortgage & Home Equity Loans

About BD Nationwide Mortgage Company:
BD Nationwide Mortgage is a second mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners seeking debt consolidation or cash out. The company focus remains solidifying with back mortgages for people with all types of credit. Always endeavoured to hook “disclose of the box” loans, BD Nationwide Mortgage is dictated to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner.

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