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Foreign National Mortgages: Things To Keep In Mind



A foreign national mortgage refers to a loan for non-us residents. Even the government can issue loans to non-residents of the States. Let’s find out more.

First of all, if you are in the States legally, you can apply for the loan. However, for illegal residents, there are zero chances of success. The reason is that main lenders always require ID before reviewing an applicant. And these requirements include visas, work permits, green cards and social security numbers as well.

Rules for the resident foreigners

Generally, it’s not difficult for non-us residents to look for a mortgage. There are two primary categories that they fall in:

1. Permanent residents: they have green cards and the rights to live in the States with all the long-term residency rights

2. Non-permanent residents: Generally, your residency rights are based on your employment.

Regardless of which category you fall in, you can apply for a mortgage. However, you may need to put in a little more effort if you are not a permanent resident.

Permanent vs non-permanent

If you are a non-permanent resident, you may have to show a proof that you will live in the country for at least another three years. If your visa or work permit has fewer than 12 months of expiry date, your lender can find out how likely you may be to stay.

FHA loans are designed for non-permanent residents. According to the rules, if you have a renewed visa or work permit, you can be a good candidate for approval.

Refugees or those in the asylum

If you have been in the asylum or have the refugee status, we have good news for you. With this status, you have the right to work, and you have greater chances of getting a mortgage approval. So, this is important to keep in mind.

Non-resident foreign buyers

If you have no right to live in the USA, you may still be eligible for the loan. However, you may have credit score problems to face. Actually, lenders have concerns as how they can enforce a debt in case of these non-residents.

So, you can’t get the type of deals a resident or citizen can get. In fact, you may have to make a down payment up to 50% to get this type of loan. Aside from this, the mortgage rate can be quite higher unlike the rate charged to a resident.

Welcome to the States

Immigrants were the founders of the States. Therefore, American has always been quite welcoming to immigrants.

Typically, lenders make their lending decisions based on the risk factors, such as the financial resources, down payment size, and creditworthiness of the borrower. As far as determining the best deal is concerned, you can be on the level playing field irrespective of the citizenship status you may have.

Long story short, if you are non-resident in the United States, you can still apply for a mortgage but you need to meet the requirements set by the lender. Hope this helps.


Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees



Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees
  • Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees.
  • Billy Markus planned to release a Software upgrade.
  • According to Musk, the Dogecoin upgrade Core 1.14.4 is critical.

The co-founder and CEO of electric car maker Tesla and rocket manufacturer SpaceX is Elon Musk has supported the meme token Dogecoin by revealing what will help the growth of cryptocurrency. On Wednesday, Elon Musk commented to Billy Markus aka Shibetoshi Nakamoto’s Tweet, by suggesting to lower the fees to make the crypto a more viable payment option for everyone.

Moreover, the price of the Dogecoin continues to drop, he commented, “super important for DOGE fees to drop to make things like buying movie tix viable”.  

Accordingly, In May Elon Musk noted that he was giving ideas and working with the Dogecoin developers to increase the system transaction efficiency. The co-founder of Dogecoin, Billy Markus but he no longer working on the project. He accepted and agreed with Elon Musk’s tweet and planned for a release of a software upgrade.

More so, currently, Dogecoin co-founder Billy Markus demanding operators to upgrade to Dogecoin Core 1.14.4 so it will reduce the fees to become the default setting. The Dogecoin update which was released in August contains outstanding performance improvement as well as bug fixes. According to Musk, the Dogecoin upgrade Core 1.14.4 is critical.

Current Market Status of DOGE

At the time of writing, as per CoinMarketCap, the price of Dogecoin (DOGE) is trading at $0.2069 with a 24-hour trading volume of $2,227,558,097. In the last 24-hours DOGE decreased 6.57%, similarly, in the last 7 days DOGE bounces back 14.93%. And it dropped 26.20% within a month.

And if this drop continues then it will fall to support level $0.16. The next support level is $0.14 and $0.12. If DOGE breaks $0.23 then it will surge to the resistance level of $0.26 and it might also hit $0.30

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Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off



Picture of five crypto coins lined up

The crypto market has been subjected to major sell-offs since assets began to crash across the board. September which has been a historically bloody month for the market has stayed true to nature as various cryptocurrencies suffered crashes that dragged the market down. Due to this, over $1 billion longs have been liquidated in the market since Monday.

Billionaire Mike Novogratz was on CNBC to talk about the current market trends. But unlike most investors in the market, Novogratz does not seem at all worried about the numerous price dips rocking the market. Mike Novogratz is the CEO of Galaxy Digital, a hedge fund that manages assets ranging from traditional assets to cryptocurrencies.

Nothing To Worry About

Talking about the sell-off in the market, Novogratz explained that tensions were high in the space due to the current regulations talks by the SEC. He pointed to the developing Evergrande crisis, which Tether had been linked to, as also contributing to the sell-offs, which had put investors on edge. The CEO also pointed to long positions that were a little too optimistic, saying, “I think the market got itself a little too long.

Related Reading | September Leaves Behind Trail Of Blood, Bitcoin Long Liquidations

Novogratz sees the current market dips as a buy-the-dip opportunity. Simply stating, “I’m not nervous” in response to the bleeding market. In addition, the billionaire sees the Treasury introducing stablecoins which are going to be backed by Fed banks. “That’s going to be something we watch over the next week to three months.”

Crypto Market Holding At Critical Levels

Noting the crash, the CEO pointed out that the top two coins in the market had held at their critical positions. Spelling good news for the market. Following the Monday crash, bitcoin had held above $40,000 and Ethereum held up above $2,800 and Novogratz said, “As long as those hold, I think the market is in good shape.”

Related Reading | Bears Lose Hold On Market As Bitcoin Breaks $44,000, Crypto Market Tops Up $200 Billion

Both these assets had recorded massive losses following Monday’s opening. And bitcoin alone had seen over $800 million long positions liquidated in response to this. Ethereum had not fared any better in the market as the bloodbath had spilled over into altcoins. But despite this, the billionaire remains bullish on the market.

Another important factor for the billionaire was the amount of both public and private capital that was pouring into the space. At the beginning of the interview, Novogratz had mentioned that the crypto market had moved on from the story of bitcoin but has moved on to Web3. And investors, in a bid to not miss out on what could very well be the next internet, have funneled more and more money into the space.

Crypto total market cap falls back to $1.8 trillion | Source: Crypto Total Market Cap on
Featured image from Investopedia, chart from
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Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion



Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion