The list and types of mortgage is endless and this article is intended to give an overview, if you are a foreign national the options for a loan are limited and the professionals who can assist you are also very limited.

In 2006 the banks and many lenders were giving mortgages away with very little scrutiny or checking the actual ability of the borrower to pay. A sudden downturn in the American real estate industry in 2006 and 2007 clearly identified the people who would have failed to qualify for a standard loan. The credit industry normally pretty tight got caught out with many properties in 2007 & 2008 entering into foreclosure. In fact the key words in 2008 were Foreclosure and Short Sale, to many people these were new terms but it was increasingly clear that something went wrong. Basically the foreclosure is where the lender forces the home owner to vacate and sells the property at the best price it can achieve. The Short Sale is where the owner and lender agree to sell the property not achieving the money owed effectively short of cash at closing and the borrower generally has to make up the difference.

Many British people are now buying investments in America and in particular in Central Florida assisted by the good rate of currency exchange. Normally unless you have residency or citizenship you are unlikely to be considered for a regular mortgage. The Foreign National Mortgage caters for this increasing demand. The eligibility is changing rapidly as lenders tighten up on their risk management, a substantial deposit is now required as the first qualifier together with in many cases full documentation of earnings in the foreign country of citizenship.

So with the world’s credit crunch where does someone begin to borrow the money? Firstly I am not a mortgage advisor, consultant or broker. I have however worked with many clients who have been directed to reputable Mortgage Brokers offering similar products with varying levels of expertise. Loans can be fixed in one country or even multi currency loans which mean you can change your payments from UK pounds to USA Dollars or Euros depending on the currency market advantages and fluctuations.

The important issue is to ensure the Mortgage Broker is in fact licensed and working with a foreign national program and even more so familiar with it. In the mortgage industry experience and reputation counts more than a web site that has been fully optimized to catch all the search engine leads and giving the impression they are the experts.

If you would like to learn more about these options and discover if you are eligible contact me and I will arrange a free consultation with a Foreign National Mortgage specialist to provide you a full evaluation. If I can get you properly qualified your options to purchase a bargain through me in this current market is greatly increased.

I now assist many British, European and American clients find their long term financial investment properties and homes in Central Florida. I have acquired a worldwide network of referring partners from Estate Agents in the UK to financial advisors in the Middle East.

Please feel free to check any of my qualifications and references with the following worldwide professional organizations and regulating bodies.

To contact me and arrange your fee consultation click the contact button below