Foreign nationals: what RED publishes

RED lends to foreign nationals. Requirements vary by program.

Fix & Flip and Stabilized Bridge

Foreign nationals may qualify with:

• A valid passport.
• A valid US visa.
• A US FICO score, where a personal guaranty is used.

The borrowing entity and guarantor rules still apply.

Rental Loan (DSCR)

Foreign nationals are eligible at lower leverage and with more reserves:

• 65% LTV on a purchase or rate-and-term refinance.
• 60% LTV on a cash-out refinance.
• 12 months of PITIA (principal, interest, taxes, insurance and association dues) in reserves.

Property cash flow still drives the qualification, so the DSCR minimum of 1.05x applies as it does for every borrower.

What to plan for

Start with the documents. An expired passport or visa will delay processing of the file. If you rely on a personal guaranty, the desk needs a US FICO score, so find out early whether you have one.

What to send the desk

The program you have in mind, the property, and the borrower and entity details. The desk will say what else it needs. Submit it as a scenario, a preliminary inquiry only. Pricing is quoted per deal.

Program figures are indicative only and subject to complete documentation, underwriting, appraisal and final credit approval. This post is general information, not financial or legal advice.