"Self-Employed, Foreign Nationals, Down Payment " LIVE ONSITE Stockbridge

LIVE ONSITE - 3 HR CE Class 11:00AM - 2:00PM

Silverton Mortgage Homeownership & Finance Education Center

175 Country Club Drive, Suite 400A, Stockbridge, GA 30281

Instructor: Terri Madden - National Director of Community Lending

Self-Employed, Foreign National Home Buyers

Down Payment Assistance Mortgage Programs

Mortgage Qualifications and Rules

Self-employed buyers can still qualify for the same loan programs as traditional borrowers. The key to a self-employed borrower successfully obtaining a mortgage is income verification. Lenders want to be sure your buyer can afford their mortgage. For the self-employed that requires some extra paperwork. These documents can include tax forms, bank statements, contracts and other records, which all help to prove your buyers ability to repay your mortgage.

Foreign Nationalsfind it difficult to navigate the complex home buying process when living abroad especially when they want a mortgage to finance a home. International buyers should expect larger down payment, currency conversion rate, green cards, work visa, etc. One point to keep in mind is that the requirements for getting a home loan depend in large part on one’s residency status. Most borrowers tend to fall within one of the following groups:

• Permanent residents with a green card (Form I-551)
• Non-permanent residents with a valid work visa (E1, E2, H1B, H2A, H2B, H3, L1 and G1-G4)
• “Foreign nationals,” whose primary residence is not in the U.S.

Let’s take a look at how the loan process differs for the self-employed and foreign internationals, and how your buyers can improve their chances of getting approved.

Downpayment assistance programs are available and each program has its own qualifications.

Sponsor: Silverton Mortgage

3 Hour In Class | Continuing Education

My CE Class, LLC - School #5914

Cathy McDaniel | [email protected]

Text: 404-550-0755 |www.classeswithcathymcdaniel.com

Host or Publisher Cathy McDaniel