Bi-National Program
MORTGAGE PROGRAM FOR BI-NATIONAL RESIDENTS
Sierra Mortgage offers a unique option for bi-national home buyers with solid financial backgrounds who maintain financial assets and interests both in and out of the U.S. (Buyers must have a legal status in the U.S.) Loans are funded through a local community bank, an El Paso bank that is committed to serving and growing with the local community.
Our deep knowledge of the area’s bi-national market, credit expertise and personal attention to each borrower means we review and approve loans for qualified applicants based on the strength of their assets and ability to repay, not just a credit score.
PROGRAM BENEFITS
• A 25% minimum down payment provides flexible documentation requirements
• Attractive rates and fees
• All lending decisions are made in El Paso and terms are customized to the borrower’s need
• Non-U.S. credit report is not required
• Loan applicants have access to a local personal banker with bi-national expertise who can review and assist with all their banking needs
• For loans under $250k, loan approval is issued within 14 business days of receipt of all income and deposit information from application
• For loans over $250k, loan approval is issued within 21 business days of all income and deposit information from application
• After closing, loans will continue to be serviced locally by customer service team representatives available to respond to any questions or issues
LOAN FEATURES
Sierra Mortgage reviews each application to develop terms that meet each borrower’s need, whether for a purchase, refinance or home equity loan. Available options include:
• Interest-only loans
• Relationship-based incentives
• Construction loans
• Fixed and variable rates
• Custom term lengths
