For second home and luxury purchases, lenders may ask foreign nationals for copies of any of these applicable documents:
- Two years of home country personal tax returns with all pages and schedules
- If self-employed:
—personal and business tax returns
—profit and loss statements and balance sheets for the business
- Recent pay stubs
- Letter verifying employment or copy of employment contract
- Letters of reference from creditors
- Two most recent monthly or quarterly statements for all:
—bank accounts and CDs
—mutual and stock funds
—retirement accounts —any other liquid assets
- Mortgage statements for all properties owned
- Previous year’s property tax statement
- Current homeowners’ insurance statement showing annual premiums
- Monthly condo or homeowner association fees
- Passport, visa, driver’s license
- Statements from current mortgages
- Possibly international credit reports, depending on origin country
- Individual Taxpayer Identi cation Number (ITIN) Asset statements must cover the down payment and closing costs.
Source: CIPS. Global Perspectives. June 2014: Not a U.S. Citizen? Not a Problem.
Real Estate Titles Explained: Agent, Broker, REALTOR®
