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Foreign National Mortgages: U.S. Property, No U.S. Paper Trail
You don't need a Social Security number, a green card, or a U.S. credit score to finance American real estate. Foreign national mortgage programs exist for exactly this buyer: a non-resident purchasing a U.S. vacation home or investment property, banked and credentialed entirely abroad. The financing leans on what you can show — passport, funds, and (for rentals) the property's own income — instead of a U.S. paper trail you don't have.
How these loans work
- Identity: a valid passport, and typically a visa or visa-waiver entry stamp
- Credit: U.S. credit is skipped — programs use an international credit report or reference letters from your home-country banks
- Income: for investment property, most foreign national files run as DSCR loans — the rent qualifies the deal, so overseas income never needs translating. For second homes, an accountant's letter or home-country statements document income
- Funds: down payment and reserves usually need to season in a U.S. account before closing — plan the wire early
What to expect
- Down payment: commonly 25–30% — the equity stands in for the credit history the lender can't check
- Rates: above domestic conventional; the premium reflects the missing U.S. file, not your nationality
- Reserves: often 6–12 months of payments in a U.S. bank
- Entity vesting: closing in a U.S. LLC is common and usually allowed for investment purchases
- ITIN holders: if you live and pay taxes in the U.S. without an SSN, the better-fitting product is usually an ITIN mortgage — different program, better pricing
The practical part nobody mentions
The loan is rarely what delays foreign national closings — logistics are. Powers of attorney and consulate notarizations for remote signing, entity formation, international wires and seasoning, FIRPTA withholding questions on future resale (talk to a cross-border tax advisor — that one's beyond us). A specialist who closes foreign national files regularly runs this checklist from day one, which is the difference between three weeks and three months.
Frequently asked questions
Can a non-citizen buy and finance U.S. property?
Yes — buying has no citizenship requirement at all, and foreign national programs handle the financing without a U.S. credit file.
How much down do I need?
Plan on 25–30% for most programs, plus reserves in a U.S. account.
Foreign national vs. ITIN loan — which am I?
Live abroad, buying in the U.S. → foreign national. Live in the U.S., pay taxes with an ITIN → ITIN program, usually with better pricing.
Can I close without traveling to the U.S.?
Often yes, using a power of attorney or consulate/embassy notarization — arrange it early, it's the most common closing delay.