About New Omni Bank
Alert: New Omni Bank will be closed on Monday, November 11, 2024, in observance of Veterans Day.
If you’re wondering whether foreign nationals can buy and own homes in California, the short answer is yes. Whether you’re in the market for a sprawling estate, a cozy townhome, or a vacant plot to make entirely your own, the possibilities are boundless.
Although the purchasing process might seem complicated, New Omni Bank is here to ensure a smooth and straightforward experience.
The U.S. welcomes buyers from across the globe, offering a real estate market without citizenship or residency ownership restrictions. This means that you, regardless of where you are or your citizenship status, can purchase a variety of properties in California.
If you live and work outside the U.S., and do not hold U.S. citizenship or permanent residency, you fit the profile. Whether you’re stateside temporarily for work, study, travel, or hold financial interests from abroad, our mortgage solutions are designed with your global lifestyle in mind.
Applicants must live and work outside the U.S. and not maintain residence in the country.
Eligibility under the ICF/DSCR program, based on property cash flows, is a must.
Expect a maximum Loan-to-Value (LTV) ratio of 70%. Loan amounts typically range from $75,000 to $1,500,000.
A larger down payment, typically over 30%, is required, varying by financial circumstances.
Automatic monthly payments via ACH from an FDIC-insured bank are necessary.
12 months of reserve funds are required. A 30-year fixed mortgage option is available.
Discuss your plans with experienced lenders like New Omni Bank to understand the loan process.
No U.S. credit history? No problem. We may use an international credit report from your home country.
Prepare necessary documentation, including proof of income, bank statements, identification, and possibly proof of legal status in your home country.
A real estate attorney specialized in international transactions can help ensure that your interests are protected and that all legalities are correctly addressed.
A tax specialist familiar with international tax laws can offer advice on optimizing your tax situation, including potential deductions, estate tax planning, and fulfilling all reporting requirements.
These are various fees associated with finalizing a mortgage. Closing costs typically range from 2% to 5% of the home’s purchase price.
International buyers must consider the costs associated with currency conversion and wire transfer fees when moving funds from abroad for property purchases.
Our decades of experience in assisting foreign nationals have established us as the go-to partner in the California real estate market.
Contact us today to learn more about how we can assist you in achieving your goals.
Offered exclusively in New Omni Bank, the Portfolio Residential Mortgage program has helped countless foreign nationals and newcomers with varied financial situations to achieve their homeownership dream in California.
Adjusting to a new culture can be challenging yet rewarding. New Omni Bank is here to support you at every step.
Unlock your ride with our Auto Loan designed for newcomers in the U.S. and borrowers with limited credit history.
Access up to $5 million with our HELOC program. Available to U.S. citizens, green card holders, and non-permanent resident aliens.
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