UK Citizen Mortgage
UK Citizen Mortgage
We offer mortgages for British Citizens and British Resident for second, vacation or holiday homes thru our network of nationwide mortgage lenders. UK Citizen’s can easily finance a purchase of second homes and in some cases investment properties. We offer up to 75% secondary home financing to UK Citizens and UK residents. Eligible second homes properties are: single family homes, approved condominiums and townhomes.
The Condotels (condo hotels), Short Term Rental Condominiums and some Non Warrantable Condos do not qualify.
If you are purchasing a condominium please call us at 1-954-357-3838 or Contact Us to prequalify the condominium development.
The loan program features are:
- Minimum 25% to 30% Down Payment
- 3.25% to 5.875% Interest rate
- Term, 15 or 30 years fixed
- Loan amounts up to $417,000 (We have a Jumbo Loan option up to $10M USD
- Par rate only
- No prepayment penalty
- Credit History Report maybe required
- 6 months of payment reserves (PITI) required
- Up to 3% seller contribution towards buyers closing cost allowed
- 1 unit single family residential property eligible
- condos eligible only if FANNIE MAE approved or 70% sold and closed and Conform to other FANNIE MAE guidelines
- 7 days for underwriting
- Closing in 30 to 45 days
Fully executed purchase agreement
1003 Completed application
Copy of Current Passport to verify Passport Number, Issue date &
Copy of current Mortgage Statement if any.
Self-Employed borrowers- Letter from CPA on letterhead paper (or on regular paper with business license attached) stating how long they have been self employed (must be at least 2 years) and in what industry, how much money the business is on track to make this year and how much money they personally are on track to make this year, as well as how much money the business and themselves made over the past 2 yrs.
Employed borrowers: Letter w/ terms of employment on Company Letter head stating: hire date, annual salary, hours worked, explanation of additional income earned.
3 letters of credit reference: mortgage in their country, auto loan, credit cards, etc.
If the customer has had 3 or more loans with the same bank, then just one letter from their bank on letterhead paper stating dates of each loan, beginning balance, current balance if any, and if payments were made on time for each of the 3 separate loans
Cash on deposit
Legible copy of the most recent two month bank statements (all pages) for checking, savings & investments accounts. If money was wired in from another account, MUST show most recent two month bank statements from account money were wired in from. Copy of wire confirmation required.
Copy of all large deposits (must source any deposits over borrower’s monthly salary amount)
*We can help with Credit reference, CPA or Employer sample letters.