info@penalending.com
2097 Watersedge Drive
Deltona, Florida 32738
407-574-4728 in Orlando, FL Area
206-235-8656 in Seattle, WA Area
1-800-552-7185 Toll-free Nationwide
Creative
mortgages
INTERNATIONAL MORTGAGES
| Current Qualification Requirements |
Minimum Credit Score: NONE, No Credit Check.
Maximum LTV: Up to 70% with currency switching option, 75% without, 100% with other property cross-collateralized or deposit account opened with bank. The maximum loan amount is based on income (5x basic annual salary or 4x joint salary) minus outstanding mortgage balances.
Loan Types: Fixed Rates, ARMs
Reserves Needed: None
Tax & Insurance Escrows: None
Mortgage Insurance: None
Pre-Payment Penalty: None
INITIAL REQUIREMENTS & INFO
CURRENT ESTIMATED RATES
CHF (Swiss Franc): 4.400%
SGD (Singapore Dollar): 3.220%
GBP (British Sterling): 6.750%
EURO (Europe): 5.980%
USD (U.S.A.): 4.690%
CAD (Canadian Dollar): 5.480%
AUD (Australian Dollar): 9.340%
NZD (New Zealand Dollar): 10.500%
JYP (Yen Earners Only): 2.520%
HKD (Hong Kong Dollars): 3.950%
ITEMS NEEDED FOR CONSULTATION
1. International Mortgage Planning Form
2. W2s for Last Two Years (or equivalent)
3. Last 90 Days Paystubs
4. Last 6 Months Bank, 401k, IRA, Mutual Funds, Brokerage Accounts Statements, (all pages)
6.
Last Three Years Tax Returns & Audited Financials if self-employed
7. Certified Copy of Passport
8. Original and recent (within last 90 days) gas or electric bill, telephone bill (not cel phone), or tax bill (or certified copies).
9. Copies of most recent credit card, mortgage, and any other loan statements.
FEES FOR SERVICE:
Origination Fee: typically 1-2% of the loan amount payable to Pena Lending Group at closing.
For US properties, the lender will require 1.3% (of loan amount) fee due at acceptance of commitment letter.
Other Lender Fees, Title Fees, Transfer Fees, Appraisal, etc. vary by transaction and location.
SERVING ALL 50 STATES & THE WORLD
EQUAL HOUSING LENDER
OUR SERVICE
Your Pena Lending Group consultant will conduct a thorough initial consultation that goes far beyond your ordinary loan application experience. Our Residential Mortgage Planning service takes into consideration your current financial situation as well as your future goals, and tailor makes recommendations based on current and projected real estate and financial market conditions. Once a strategy is drawn (using a suite of proprietary tools), your specific loan scenario is run through automated loan search and underwriting tools to find the best execution. After the closing of your loan, we also offer free active monitoring of your entire mortgage portfolio for life to capitalize on changes in the market and ensure your mortgage strategy is optimized.
INFORMATION ON INTERNATIONAL MORTGAGES FOR INVESTORS
This program is extremely exciting and geared towards individuals seeking investment properties with the absolute lowest rates available. Choose to repay your loan from a wide range of foreign currencies, with the ability to switch to a more favorable currency several times per year. Loans are repaid quarterly in arrears, at which point you may select a new currency as available.
FEATURES:
Purchase in the following countries: Great Britain (Mainland UK Only), Spain, France, Portugal, New Zealand, Australia (All States except Northern Territories and Tasmania), Canada (Mega Toronto; Greater Vancouver, Quebec, Alberta and Whistler only), USA (Hawaii; California; Washington State; Colorado; Nevada; New York; New Jersey; Connecticut and Florida only), Dubai, Hong Kong and Singapore.
Multiple Currencies Available. Loans available in the following currencies: Sterling, US Dollars, Euro, Australian Dollars, New Zealand Dollars, Canadian Dollars, Japanese Yen (for Yen income earners only), Swiss Franc, Hong Kong Dollars and Singapore Dollars. Loans above 70% LTV available only in currency where the subject property is located.
Free Currency Switching. You are allowed to switch to available currencies for a more favorable one twice per year at no charge, and subsequent switches are allowed for a nominal fee. Not available with LTVs above 70%.
Up to 100% Financing. If you own other property or have money on deposit with the lender you may be able to use that as collateral, enabling you to finance an investment property with zero downpayment.
Borrow in name of LLC, Corporation or Trust. Personal guarantees still required, additional documentation is required.
No Prepayment Penalties. Except on the fixed-rate optiion, there is no penalty for prepayment of the mortgage.
Offshore Bank Accounts and Private Banking. In addition to providing your international mortgage, we can also facilitate opening up an offshore investment or banking account in several foreign currencies, allowing you to capitalize on greater returns available in foreign markets (with no tax withheld on earnings). Call or email us today for more information!
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