Florida Foreign National Mortgage Programs

Yes. foreign nationals can apply for a mortgage through lending programs designed specifically for qualifying international buyers. These loans do not require a U.S. credit score, social security number, or green card, though proof of sufficient funds must be provided. There are several different types of foreign mortgage options depending on the program, with flexible options that include interest-only payments. Note that down payments for foreign lending programs in the U.S. are generally around 25% to 35% of the property’s purchase price.

Eligibility for foreign national loans varies by program, though typically an individual must primarily live and work overseas in order to qualify. In addition, borrowers must be a non-U.S. citizen or resident, though many programs do require a valid passport and/or U.S. visitor’s visa.

It depends on the loan. Many foreign mortgage programs offer loans that can be used toward single family homes, townhouses, condos as vacation homes, or investment properties.

Yes. The specific loan limit for a foreign mortgage is based on the mortgage program and a borrower’s qualifications, with ranges of anywhere from $200,000 to $10,000,000.

Applicants usually must show a valid foreign passport and U.S. visitor’s visa, as well as income verification and proof of assets. While a U.S. credit report or FICO score is not required, some borrowers should also plan to supply an international credit report or credit references, such as reference letters from foreign banks.

Yes, individuals from OFAC-sanctioned countries may not qualify for foreign national loans. While this list is fluid and is subject to change, countries on this list presently include: Afghanistan, Russia, Sudan, Ukraine, Venezuela, North Korea, Syria, Cuba, and Iran, among others.