Foreign National Box:
Identifies the obligations under US law for foreign nationals who may be borrowers, guarantors, or owners of a borrower entity. We do not make any representations as to the individual's citizenship other than individual borrowers. The residency of the signatories, and even guarantors, is not referenced in the docs.
Below the difference in the loan agreement when the box "Is a Foreign National" is checked ("has") or unchecked ("is a United States citizen and resident with"):
If you borrower is not registered as a foreign entity in the property state, you will leave the box unchecked.
A customer can enter a foreign address for the Borrower in the "Borrower" tab by checking the box that reads "Has Foreign Address".
A customer can enter a foreign address for the Borrower in the "Borrower" tab by clicking on the checkbox that reads "Has Foreign Address." By checking this box the address lines will reduce the Address data entry fields to only "Address 1" so an international address can be entered in its entirety.
Foreign Guarantor:
If the guarnator is not a citizen of the United States, for individual guarnators, or an entity formed or organized within the United States, then you can indicate the guarantor as such with the "Foreign Guarantor" check box. This will include langauge that identifies this party as such and include provisions for domestic servicing if the need arises. The Guarantor is to complete this information, at Lender's acceptance, at the time of execution.
This option would include the following language in the Guaranty:
If there are multiple guarnators of different citizenship/formation status or the box was checked in error, the guarnator can complete the information to Lender satisfaction.