Foreign National Loan Program


Our foreign national loan program is focused on U.S. visa waiver countries. GCBB requires the property is put in a Single Entity LLC, Partnership or Corporation. Documentation is required to verify income, credit and liquidity.

  1. Florida has the largest number of foreign investors in real estate in the United States.†
  2. The volume of Florida’s existing homes purchased by foreign buyers from August 2018 to July 2019 was $16 billion—that’s 12% of the total volume of Florida’s existing home sales.*
  3. 45% of Canadians choose Florida as the #1 International Buyer Destination†
We will allow applications from “Visa Waiver” countries only as long as they put the property in a single entity LLC, Partnership or Corporation. In addition to a signed loan application the following documentation is required:
  • Current, dated conversion factor from “Visa Waiver” country currency to US Dollars, to be used throughout the loan file to reflect all income, assets and liabilities in US Dollars
  • All foreign documents to be translated to English
  • Copy of passport for each applicant.
  • Personal financial statement and last three years of tax returns, converted to English, listing all assets and liabilities in U. S. Dollars.
  • Business or investment resumes, in English, giving background and details of applicant. This important document will help us get to know our client.
  • Letter from CPA or Tax Attorney, in English, stating last three years taxable income, their relationship to applicant, and number of years preparing tax returns for applicant. Translated tax returns in English.
  • Two or more letters of reference, in English, from banks or other creditors. The letters should cover previous loans to applicant, payment history, and opinion of credit worthiness and character of the applicant.
  • Last two most recent banking, brokerage, and retirement statements (all pages), translated into English, and converted to US Dollars. Or, their broker or banker can translate the summary of account in English, and describe their relationship to the applicant, and the number of years they have transacted business.
  • A U.S. Registered Agent is required (attorney or company acceptable to Gulf Coast Business Bank)
  • Reserve account of 6 months PITI and HOA Fees to be established in an account at Gulf Coast Business Bank at or prior to closing
  • OFAC Report
† Credit Subject to ApprovalLoan amount up to 65% of cost or appraisal value, whichever is less. Based on 30-year amortization with 5/1 ARM option.