Foreign national loan requirements: what you need to buy US property from abroad
If you live outside the United States, you can finance a US rental or second home — no American credit or credit from your home country is required,. Qualify as an investor in the strongest real estate market in the world.
No US credit required · No SSN/Tax ID · Condos & Condotels eligible · Hablamos español
What you need to qualify for a Foreign National mortgage
A foreign national loan skips the three things you don’t have — US credit, US income and residency — This loan leans on the property and your documented funds instead.
A valid passport and visa
Passport, plus a valid visa and I-94 where required. Visa-waiver countries and Canadian citizens may be exempt from the visa.
No US credit needed
US credit report is not required. A foreign credit reference can help, but isn't required.
A down payment starting at ~25%
Our typical starting down payment for most Foreign National loans depending on amount financed. For loans over $1.5M loan, it rises a little more. See the table below.
Funds must be in an US bank account
Your down payment and reserves need to sit in a US account for at least 2 months before you apply.
An investment or second home
Since you live abroad, the property is a rental or vacation home — not a primary residence.
About 6 months of reserves
A cushion of mortgage payments held in your US account after closing.
Down payment by loan size for a Foreign National loan
Typical down payment percentages based on the purchase price. This table makes it easy to understand.
|
Loan amount
|
Down payment (rental, rent covers the payment)
|
|---|---|
|
Up to $1.5M
|
~25%
|
|
$1.5M - $2M
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~30%
|
|
$2M - $2.5M
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~35%
|
Calculate your down payment amount by multiplying the price of the property and the down payment percentage.
For example, a $1M home would need a down payment of $250,000 assuming a 25% down payment.
Qualify on the rent, or on your income and assets
Most foreign buyers take the first path — it’s simpler and asks for less down.
Qualify on the rent of the property (DSCR)
The loan is judged on whether the property’s rent covers the mortgage — not on your personal income.
- Down payment from ~25%
- No US credit or US income needed
- Investment property; hold title in an LLC
- Short-term rentals (Airbnb) can count
Qualify on income & assets
For a second home, or when the rent alone doesn’t cover the payment, you can qualify on documented foreign income and assets instead.
- Down payment typically ~30–40%
- Foreign income and bank statements documented and translated
- Works for a vacation home you'll use yourself
- Larger loan amounts available
Unsure about which one is the better way for you? Take our homebuyer quiz ->
Moving your money to a US bank
This is the step foreign buyers most often get surprised by, so plan for it early.
Your down payment and reserves need to be in a US bank account and “seasoned” — sitting there for about 60 days — before you apply.
The good news: the time your money was already sitting in your foreign account usually counts toward that, so if you transfer well ahead of shopping, you’re often ready to go. You will need to provide two consecutive months of bank statements.
The practical move is to open a US account and move your funds over as soon as you’re serious — before you find the property, not after. We’ll walk you through the timing.
Eligible property types for a Foreign National loan
Good news for vacation and rental buyers: condos and even condotels qualify — a big advantage in markets like Florida, California and elsewhere.
Works
- Single-family homes and townhomes
- Condos, including non-warrantable
- Condotels (hotel-condo units)
- 2–4 unit properties and planned communities
Not eligible
- Rural or agricultural properties
- Large acreage (over ~2 acres)
- Manufactured and mobile homes
- Unique or leasehold properties
Self-employed and not sure which is strongest for you? That’s exactly the kind of thing a broker figures out — the same income can qualify very differently depending on the path.
A few more things to expect
Escrow accounts for taxes & insurance
Foreign national loans set up an escrow account for taxes and insurance (it can’t be waived), and hold about 6 months of payments in reserve. The lender will pay your property taxes and homeowners insurance when due, on your behalf.
OFAC and country checks
Every US mortgage screens against the federal OFAC sanctions list — routine, and the law. Some lenders also restrict funds from specific countries, and which ones varies and changes over time. We confirm your situation against current guidelines before you shop.
Where this list comes from
Foreign national lending has no government agency guideline behind it — the rules live in wholesale lender guidelines most buyers never see. We publish the requirements of our own foreign national program in plain ranges, leading with the flexible end and noting where terms tighten, so what you read matches what you’ll be quoted.
- Down payment: from ~25% on the rental path up to a $1.5M loan; ~30–35% for larger loans; ~30–40% on the income-and-assets path.
- Credit: no US credit score or international credit score is required.
- Assets: down payment and ~6 months of reserves moved to a US bank and seasoned about 60 days; time held abroad can count.
- Occupancy: investment or second home — not a primary residence.
Figures are typical values from current wholesale lending guidelines, published as terms of Andes Mortgage’s ITIN program — not a single lender’s terms and not a commitment to lend. Program terms vary and are subject to change without notice. Guidelines last verified: July 2026.
The questions people actually ask
Can a foreign national buy property in the United States?
Yes. There’s no citizenship or residency requirement to own US real estate, and foreign national loans finance non-residents every day. The property is a rental or a second home rather than a primary residence, since you live abroad.
Do I need US credit or US income?
No. Most foreign national programs require neither. On the rental path, the loan qualifies on the property’s rent. On the alternative path, it qualifies on your documented foreign income and assets. A US credit score isn’t part of either.
How much down payment do I need?
On the rental path, as little as 25% down for loans up to $1.5M, rising to about 30–35% for larger loans. On the income-and-assets path, plan on roughly 30–40%. Cash-out refinances keep about 30% equity in the property.
Do I really have to move my money to a US bank?
Yes — your down payment and reserves need to be in a US account and seasoned for about 60 days before you apply. The time your funds were already held in your foreign account usually counts, so moving money early is the key. Open the US account and transfer before you start shopping.
Can I buy a condo or a condotel?
Yes to both, including non-warrantable condos and condotels — which is a real advantage for vacation and rental buyers in markets like Florida, where many desirable units fall into those categories. Rural, agricultural, and manufactured properties generally don’t qualify.
Can I rent it out on Airbnb?
Yes. Short-term rental income can be used to qualify on the rental path, supported by a market rent report. It’s a popular structure for foreign buyers financing vacation-rental properties.
See what your US property purchase would look like
Answer a few quick questions and we’ll show you your down payment, which path fits, and the next step — no obligation.
Keep going
More Foreign National Loan resources
Foreign National & Non-Residents
Difference explained
Foreign National Loans
Explained in full detail
ITIN DSCR Loan
Buy rental property with ITIN
Owner & mortgage broker, Andes Mortgage LLC · NMLS #988935
- Guidelines last verified: July 2026 · reviewed quarterly
Andes Mortgage provides mortgage guidance only, not immigration, legal, or tax advice. Eligibility reflects current conventional (Fannie Mae / Freddie Mac), FHA, and VA guidelines as of the date above and is subject to change without notice — this is general information, not a commitment to lend or a determination of eligibility. Andes Mortgage LLC · NMLS #2187991 · Equal Housing Lender.