Non-US citizens and non-residents can buy US property and get a US mortgage to finance it. Foreign national mortgage loans are a defined Non-QM product with specific requirements: typically 30–40% down, documented foreign income, and a lender who actually specializes in this loan type. The process is different from domestic lending — but it is not complicated when you know exactly what to prepare.
Foreign national programs exist because the US real estate market attracts international buyers — particularly investors who want the stability of US assets, vacation home buyers, and individuals with business interests in the US. Conventional Fannie Mae and Freddie Mac programs are not available to non-residents, but the Non-QM market has filled that gap with purpose-built foreign national products.
Who Qualifies as a "Foreign National" for Mortgage Purposes?
In mortgage lending, a foreign national is a borrower who:
- Does not have a US Social Security number
- Does not reside primarily in the United States
- Has income sourced from outside the US
- May or may not have a US bank account
This includes citizens of other countries who want to buy US investment property or vacation homes, international business owners with US operations, and individuals who divide time between the US and other countries but whose primary domicile is outside the US.
If you live in the US and file US taxes with an ITIN, you are not a foreign national for lending purposes — you want an ITIN mortgage program. The foreign national designation is specifically for non-residents with foreign-source income.
Foreign National vs. ITIN vs. Non-Resident Alien
For mortgage purposes: Foreign national = non-resident with foreign income. ITIN borrower = US resident who files US taxes with an ITIN rather than an SSN. Non-resident alien is the IRS tax classification — but lenders care about where you live and where your income comes from, not specifically the IRS terminology. When in doubt: do you live in the US and file US taxes? If yes, you want an ITIN program. If no, you want a foreign national program.
Foreign National Mortgage Requirements in 2026
1. Down Payment
Foreign national programs require larger down payments than domestic Non-QM products. The standard range is 30–40% down, with some lenders allowing 25% for borrowers with exceptional documentation and strong asset reserves.
| Borrower Profile | Minimum Down Payment | Notes |
|---|---|---|
| Standard foreign national, investment property | 30–35% | Most common scenario, most lenders |
| Vacation/second home purchase | 30% | Some lenders available for non-investment use |
| Strong foreign credit documentation | 25–30% | Fewer lenders at this LTV, strong reserves required |
| No-ratio / asset-based program | 35–40% | For borrowers who cannot document income |
Down payment funds must be verifiable. The lender needs to see the funds in a US bank account (or an international account with certified documentation), and they need to trace the source. Large recent transfers from overseas require documentation of origin — business sale, investment proceeds, savings accumulated over time. Cash sources that cannot be documented create problems.
2. Credit Requirements
Most foreign nationals do not have a US credit score. Lenders address this in several ways:
Foreign credit report: Many lenders accept a credit report from the borrower's home country, translated and certified. Credit bureaus in the UK, Canada, Australia, major European countries, and many others can provide reports that US lenders will review.
Bank reference letter: A letter from the borrower's primary bank confirming the relationship — account standing, account age, and that the borrower is a customer in good standing — is often accepted as a substitute for or supplement to a credit report.
No credit required programs: Some foreign national programs are purely asset-based and do not require any credit documentation. These programs require larger down payments (35–40%) and stronger liquid reserves, but they are available for borrowers who have no credit history to document.
3. Income Documentation
Foreign national income documentation is the most variable part of the underwriting. Lenders need to verify that you can support the mortgage payment, but they cannot rely on US tax returns or standard US employment verification. Options:
- Foreign employer employment letter: A letter from your employer on company letterhead confirming your position, tenure, and annual compensation — in English or with a certified translation.
- Foreign tax returns: One to two years of personal tax returns from your home country, certified translated if not in English.
- Foreign bank statements: 12–24 months of bank statements from your primary account showing income deposits and sufficient liquidity.
- Business financial statements: If you own a business, a CPA-prepared or official financial statement showing business income.
- Asset-based qualification: For borrowers who cannot document income to the lender's satisfaction, some programs qualify entirely on the asset reserves available — no income documentation required, just larger down payment and reserves.
4. Reserve Requirements
After closing, foreign national borrowers typically need to demonstrate 12–24 months of PITIA in liquid reserves — significantly more than the 3–6 months typical of domestic Non-QM programs. The reason is straightforward: foreign nationals are harder to reach through US collections and foreclosure processes, so lenders compensate with stronger reserve requirements.
Reserves can be held in a US or foreign bank account. Foreign account statements need to be translated and certified. The key is documentation — the lender needs to verify these assets exist and belong to you.
5. Property Types
Foreign national programs are available for:
- Investment properties — single-family, condos, 2–4 units
- Vacation or second homes
- Some lenders offer programs for US-based business property
Foreign nationals cannot use the property as a primary residence in the US without changing their immigration/residency status. Properties purchased under foreign national programs are typically titled as investment or vacation properties.
Eligible Property Locations
Not all US real estate markets have equal lender coverage for foreign national loans. The strongest program availability is in markets with historically high foreign investor demand:
- Florida: Miami, Orlando, Tampa, Fort Lauderdale — the most active foreign national mortgage market in the US. Many specialty lenders focus almost exclusively here.
- New York: NYC condos and investment properties.
- California: Los Angeles, San Francisco, San Diego — high prices mean larger loan amounts, which some foreign national lenders prefer.
- Texas: Dallas, Houston, Austin — growing market, more lenders entering.
- Other markets: Most US states are accessible through Non-QM lenders with foreign national programs. Smaller markets may have fewer lender options but programs exist.
Interest Rates for Foreign National Loans
Foreign national mortgage rates carry a meaningful premium over domestic Non-QM rates because of the additional risk and complexity. In 2026, expect rates to run 1.5–3.0 percentage points above conventional rates, depending on:
- LTV (lower down payment = higher rate)
- Income documentation quality (full doc vs. asset-based)
- Borrower's home country (some countries carry additional country risk premiums)
- Loan amount (larger loans often get better rates on a per-basis-point basis)
- Whether a US credit score exists
Rates are higher, but the loan is available when conventional is not. For investors purchasing US rental properties, the rental income often more than covers the higher rate — particularly in markets where gross yields are 6–9% and the rate differential is 1.5–2.0%.
Can Foreign Nationals Use DSCR Loans?
Yes — and this is an important intersection. Some foreign national programs are offered as DSCR variants, where the investment property's rental income supports the loan qualification instead of or in combination with foreign income documentation. If you're buying a US investment property that generates US rental income, a DSCR program with a foreign national overlay is often the cleanest solution:
- Income qualification based on the property's DSCR ratio
- No foreign income documentation required
- Down payment and reserves still at foreign national levels (30–35%)
- Credit requirements either via foreign credit report or asset-based
This is particularly clean for foreign investors buying income-producing US real estate, because the property's rental income — which will be in US dollars and US-verifiable — handles the income side of underwriting.
Step-by-Step: Applying for a Foreign National Mortgage
- Open a US bank account. Most lenders want to see down payment and reserve funds in a US account before closing. Open an account at a US bank that accepts foreign nationals — major banks like Chase, Citibank, and HSBC have programs for this. Get funds transferred and seasoned (60+ days in the account) before you apply.
- Gather income documentation. Employment letter, foreign tax returns, and bank statements from your primary account. Get documents translated if not in English.
- Request a foreign credit report. Contact the major credit bureau in your home country and request a report in English or with translation. Bring this to your loan officer.
- Identify the property. Foreign national programs have specific eligible property types. Confirm with your loan officer before going under contract.
- Apply with a foreign national-capable lender. Most banks and many mortgage brokers cannot do this loan. Work with a Non-QM broker who has relationships with multiple foreign national lenders — this gives you better rate and term options.
- Plan for 30–45 day closing timeline. Foreign national loans have more documentation complexity, and closings typically take longer than standard Non-QM loans. Build this into your offer timeline.
Ready to start? Apply here — tell us the property type, your country of residence, estimated down payment, and income type, and we'll match you with the foreign national programs you're eligible for.
Frequently Asked Questions
Can a non-US citizen get a mortgage to buy US property?
Yes. Foreign national mortgage programs are Non-QM loans specifically for non-residents purchasing US real estate. They require 30–40% down, verifiable foreign income or US-held asset reserves, and a foreign credit report or bank reference letter.
What is the minimum down payment?
30–35% for most programs. Asset-based programs that require no income documentation typically require 35–40%. Some lenders allow 25% for borrowers with strong foreign credit documentation and substantial reserves.
Do I need a US credit score?
No. Foreign credit reports and bank reference letters are accepted by most foreign national lenders. Some programs require no credit documentation at all — just the larger down payment and reserves.
Can I use DSCR for a foreign national purchase?
Yes. DSCR programs with foreign national overlays let you qualify on the rental property's income rather than foreign income documentation. This is often the cleanest route for foreign investors buying US income-producing real estate.
Can I live in the property?
Foreign national programs cover investment properties and vacation homes only. If you want to live in the US as a primary residence, you need US residency status and would qualify under ITIN or conventional programs instead.
Buying US Property from Abroad?
Tell us your country of residence, the type of property you're targeting, your estimated down payment, and how you want to document income. I'll match you with the foreign national programs you qualify for and walk you through the process.
Start Your Application →This guide is for educational purposes only. Loan requirements vary by lender and borrower profile. Rates and terms are subject to change. NMLS #368612. Equal Housing Lender. Ian Eichelberger, NMLS #368612, is a licensed mortgage loan originator. Contact us for a personalized rate quote.