Home Opportunity Loans
Program exclusive for First Community Mortgage ITIN / W7 borrowers.
Loan Programs
Home Opportunity Loans
The Home Opportunity Loan is an exclusive program for First Community Mortgage eligible to foreign nationals and ITIN / W7.
This program is perfect for our borrowers with no credit history, who have filed taxes in the United States for the previous 2 years. See below for the highlights of this program. Loan approval and terms are dependent upon borrower’s ability to repay, acceptability of collateral property, and FCM underwriting criteria.
Details
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Open to Foreign Nationals and Non-Resident Immigrant Status with ITIN/W7 U.S. tax return filings
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Alt Doc Allowed: 12 Month Bank Statements, Profit & Loss, Ready Asset, and Asset Depletion
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Non-warrantable condos, Manufactured homes, 1-4 unit properties, townhomes/PUDs, and vacant land allowed
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Must have filed taxes in the US for the previous year
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Gifts for downpayment allowed
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Primary residence, second home, and investment properties allowed
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Cash on Hand allowed. (No sourcing or seasoning, but funds must be deposited in a bank account prior to final approval)
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6% seller contributions maximum
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Up to 85% LTV