Visit us at A Place in the Sun Overseas Property Exhibition on March 11-13, 2011 at Earls Court in London

https://floridalinkcorp.com/A_Place_In_The_Sun.html

http://www.aplaceinthesun.com/exhibition/visitorfloridapavilion.aspx

• Foreign National Guidelines 1/2011

Canadian Citizens

Australian Citizens

Citizens of the European Union proficient in the English language.

3/5/7 Year fixed rates available then converting to a variable rate

2% annual cap / 5% life cap

LIBOR + 3.5% margin

· Second/Holiday home purchase only 65% Loan to Value / Purchase price (whichever is lower)

· Single family residence or PUD only (no condos)

· Maximum loan amount to $625,500

· 12 months reserve payments to be retained with bank for at least 1 year

Please note that this program is available to the borrower directly - we do not have a wholesale department for mortgage brokers

Income requirements may consist of the following:

· Verification of Employment/VOE

· Letterhead from accountant or employer stating income/ salary position/title, dates of employment – information to cover the most recent two (2) year period

· If available, obtain the most recent two (2) years personal and business income tax reports, in English

· If business income applies, obtain a letterhead from the Accountant defining his/her relationship, the length of time he/she has represented the borrower, summary of the borrower’s business and disclose the borrower’s current income and the past two (2) years.

· W-8 Form

Scanned colour Copy of Passport or Visa showing stamp entrance to United States

Asset/Cash Reserve requirements may consist of the following:

· Most recent two (2) months bank statements, all pages.

· Documentation of the source of funds for any unusually large deposits is required.

· Quarterly bank statements must be dated within 90 days of the initial application.

· All other acceptable asset sources verified according to industry standards.

· If bank statements can’t be provided in English, a letterhead, in English, from the banking institute to document the borrower’s assets & history for the most recent sixty(60) days.

· If borrower is a business owner one of the above will need to be provided for the business to document the business liquidity.

· Automatic payment withdrawal (ACH) required.

Verification or mortgage or rent or certified copies of past twelve (12) months canceled checks to evidence mortgage/rental history in lieu of VOR/VOM.

Non occupant borrower not allowable for Foreign National loans

Credit Requirements:

A foreign national credit report or three (3) credit reference letters, including one housing related. Credit letters must state the date the account was open (minimum 2 years), the credit limit, minimum monthly payment and that the account has been in good standing and is current. Obtain verification of mortgage when applicable, and obtainable, disclosing a 12 month history. Three (3) months statement history on 1 credit card required (Visa, MC, Amex, Discover). All documentation must be provided in English or translated by a certified translator

The borrower must secure, and retain, 12 months reserves with the bank for at least one (1) year. The borrower can either open a 12 month CD which will stay open for the 12 month period and the borrower would set up an ACH with his current banking institute OR the borrower can open a checking account and deposit the 12 months reserves and set up an ACH for the subject property monthly mortgage payment to be withdrawn; however, the borrower will need to remember on the 13th month to replenish the funds to accommodate the ACH.