Foreign National Mortgages
Foreign national mortgages are designed for non-us citizens purchasing a primary or vacation residence in the US. These loans use personal income to qualify the client for the mortgage, assuming the property is not rented.
Key Characteristics
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Designed for non-US citizens purchasing US real estate
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Does not require US credit history
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Higher down payment requirements (30-50%)
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Higher interest rates compared to conventional loans
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International income accepted
Typical Loan Terms
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Loan-to-Value (LTV): 50-80%
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Interest rates: 7-9%
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Loan terms: 5-30 years
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No US Social Security number needed
Qualification Criteria
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Valid foreign passport
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Proof of income
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Substantial liquid assets
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Property intended for investment or vacation use
Property Types
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Residential properties
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Second Homes
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Multi-Family properties
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Vacation properties
Documentation Requirements
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Bank statements
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Personal Income documentation
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Proof of regular bill payment history
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Visa Documentation is optional
Restrictions
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Limited to non-permanent residents
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Must have stable international income
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Property cannot be primary residence
Banks
