foreign national mortgage


A mortgage provided to an individual who is not a citizen of the United States of America. Certain terms and conditions must be met to qualify for this type of mortgage. The individual must be a resident of another country that frequents the United States often for business or vacation. The down payment and corresponding interest may be higher on a foreign national mortgage compared to similar loans. The issuer of a foreign national mortgage will typically request financial reports from the borrower's home country.
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