Quick Answer
Foreign nationals get mortgages through non-QM and portfolio lenders, not through FHA, VA, or standard conventional programs. Expect a larger down payment, often 25% to 50%, a valid visa or ITIN, a US bank account, and proof of assets. Rates run higher and lender options are fewer, which is exactly why you want someone who places these loans regularly. Ask Patrick how mortgages for foreign nationals would apply to your situation.
The money problem: you want to buy a home in the US and you do not have a Social Security number or US credit history. The standard loan programs will not touch the file, but a real path exists through lenders who specialize in foreign national lending.
Foreign nationals can get mortgages through non-QM or portfolio lenders, which keep loans on their own books and set their own rules. These loans are not available through standard FHA, VA, or conventional programs.
Expect a larger down payment, often 25% to 50%, a valid visa or ITIN, a US bank account, and proof of assets. Rates run higher and lender options are fewer, which is exactly why you want someone who places these loans regularly.
Lender Options
Your options include portfolio lenders who keep loans on their books, non-QM lenders specializing in foreign national lending, and community banks with international departments. The lender's experience with these files matters more than the marketing.
The meaning: the lenders who hold the loan themselves can write rules that fit foreign nationals, and that is where the path opens.
The money consequence: the right lender means approval at better terms, while the wrong lender means a wasted application.
The real-world play: ask how many foreign national loans the lender closes a year. The answer tells you everything.
Down Payment
Down payment minimums typically run 25% to 30% for an owner-occupied home and 35% to 50% for investment properties. The larger the down payment, the more lender options become available, because the lender's risk drops with your cash.
The meaning: in foreign national lending, your cash is your credit, and the down payment is the proof.
The money consequence: a bigger down payment opens better terms and more lender choices, so the cash you bring shapes the whole deal.
The real-world consequence: an investment property demands the biggest down payment, so know the number before you shop.
Documentation
Documents needed include a valid passport and visa, an ITIN or SSN, US bank statements covering 12 or more months, an international credit report or US credit history, proof of foreign income, and asset documentation. Every document tells the lender the same story: you are real, stable, and able to pay.
The meaning: the file substitutes documentation for the US credit history you do not have yet.
The money consequence: a complete file is what earns the approval, and missing pieces are what stall it.
The real-world play: gather everything before you apply, because the lenders who do this work expect a full file on day one.
Rates and Terms
Rates are typically 1% to 3% higher than conventional, and common terms include a 30-year fixed or a 5/1 ARM. Prepayment penalties may apply, and some lenders require larger reserves to offset the risk. Read the terms before you sign.
The meaning: the higher rate is the price of the program, and the terms are where the details live.
The money consequence: a prepayment penalty changes the math on refinancing, so know it before you plan around it.
The real-world play: compare the full terms, not just the rate, because the penalty and reserve requirements are real money.
Alternatives
Alternatives include supporting a US-based family member to apply, seller financing, or waiting until you establish sufficient US credit history. Each path trades time or cost for access, and the right one depends on your situation.
The meaning: if the foreign national program does not fit, there are other doors, but they come with their own trade-offs.
The money consequence: a US-based co-borrower can unlock standard financing, while seller financing can bypass lenders entirely.
The real-world play: building US credit with a secured card is the patient path that opens the standard programs, and it is worth starting even if you buy through a specialist now. Make it a great one.
Ask Patrick about mortgages for foreign nationals
Get a straight answer on mortgages for foreign nationals and how it applies to your situation.
