Foreign National Loan Mortgage Program
The Foreign National Mortgage Program is designed specifically to help non-U.S. citizens achieve their dream of owning property in the United States. Whether you are an investor seeking opportunities or a foreign resident looking to purchase a vacation home, this loan program offers flexible financing options tailored to your unique needs. Unlike traditional mortgage loans, the Foreign National Mortgage Program takes into account the specific challenges faced by international buyers, such as limited U.S. credit history or income verification issues. With competitive rates, minimal documentation requirements, and specialized services, this program provides a seamless pathway for foreign nationals to invest in U.S. real estate.
Foreign National Loan Program
Key Features:
- Loans up to $1.5 million, with a minimum of $100,000
- Purchase and cash-out or rate-term refinance
- Investment property only
- DSCR program with a 1:1 ratio on cash flow
- Cannot reside in the United States
- Closing in a U.S. LLC entity permitted
- Assets sourced and seasoned for 60 days – must be in a U.S. FDIC insured bank for a minimum of 30 days
- 12 months’ reserves required and can remain in a borrower’s home country
- ACH auto-payment is required
- Not available in Osceola County
- Must have an eligible Visa: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2
- No gift funds allowed
Min Fico
N/A
Max LTV
70%
This mortgage product is tailored specifically for foreign nationals seeking to purchase or refinance property in the United States while residing and working in their home country. Designed as a Debt Service Coverage Ratio (DSCR) program with a 1:1 cash flow ratio, it offers a streamlined qualification process that does not require income verification or U.S. credit history. This makes it an accessible and efficient solution for international buyers looking to invest in U.S. real estate.
Foreign National Mortgage Program FAQ's
What is a Foreign National Mortgage Loan?
A Foreign National mortgage loan is specifically designed for borrowers holding certain visa types, including B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2, or those from Visa Waiver Program countries. To qualify, borrowers must reside and work outside the U.S., as they are not permitted to live or work within the country. These loans operate under an ICF/DSCR program, focusing solely on the property’s cash flow for qualification. The program is available for non-owner-occupied properties and supports purchase, refinance, and cash-out transactions.
Do Foreign National Mortgage Loans Have Different Requirements?
Yes, Foreign National mortgage loans come with distinct guidelines and requirements. Borrowers must live and work outside the U.S. and cannot establish residency in the U.S. Key requirements include a maximum Loan-to-Value (LTV) of 70%, 12 months of reserves, and only 30-year fixed-rate mortgage options. Loan amounts range from $75,000 to $1,500,000, and seller concessions are capped at 3%. Additionally, monthly mortgage payments must be made through ACH from a U.S. FDIC-insured bank.
Do Foreign National Loans Require a Higher Down Payment?
Yes, Foreign National loans often require a larger down payment, although the specific percentage depends on the borrower’s financial profile and other factors.
The Foreign National Mortgage Program offers loans ranging from $100,000 up to $1.5 million, tailored for investment properties only. Whether you are purchasing, refinancing, or seeking a cash-out option, this program is designed to meet your needs. It features a Debt Service Coverage Ratio (DSCR) program with a favorable 1:1 cash flow ratio, making it easier to qualify based on rental income.
Key features include the ability to close the loan in a U.S. LLC entity and a requirement for assets to be sourced and seasoned for 60 days, with at least 30 days held in a U.S. FDIC-insured bank. A reserve of 12 months is mandatory, but these funds can remain in the borrower’s home country. Automatic ACH payments are required for this loan, which is available only to those with an eligible visa, such as B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, and P2. Gift funds are not permitted. Note that this program is not available in Osceola County.
This program is an ideal solution for foreign nationals who cannot reside in the United States but want to invest in U.S. real estate while maintaining financial flexibility.
