Learn About Foreign National Loans

A foreign national loan is a mortgage specifically designed for non-U.S. citizens who want to purchase property in the United States but do not have a Social Security Number or permanent residency. These loans are popular among international investors, vacation home buyers, and individuals relocating for work. Here’s how to obtain one:

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🔑 Basic Requirements for a Foreign National Loan

1. Valid Passport & Visa

  • Must prove legal entry into the U.S. (B1/B2, L1, H1B, E2, etc.)
  • Some lenders accept borrowers with only a passport from their home country.

2. Proof of Income & Employment (Foreign or Domestic)

  • Foreign pay stubs, employer letters, or CPA letters
  • Bank statements (typically 12–24 months)
  • Sometimes audited financials if self-employed

3. Credit Reference or International Credit Report

  • If no U.S. credit history, lenders may request
    • Bank referance letters from foreign banks
    • Proof of home ownership such as title, cable/internet bill, electric bill, auto insurance, mortgage statements, ect…..

4. Down Payment

  • Typically 25–30% minimum of the purchase price
  • Some programs may require more depending on risk

5. Bank Statements

  • Proof of assets (U.S. or foreign accounts)
  • Funds must be seasoned (held for 30–60 days prior to closing)

6. Property Must Be for Investment

  • Second homes and investment properties are allowed
  • Need to own a primary residence in another country

7. Reserves

  • Require 12 months of reserves (mortgage payments, taxes, insurance)

At Jessica Herbert - Paramount Residential Mortgage Group, Inc, we can help find the perfect Foreign National Loan for you and your specific needs. Contact us today!