Complete Foreign National Mortgage Guide
Written by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A foreign national mortgage lets non-U.S. citizens without permanent residency buy property in Florida. These loans use alternative documentation since borrowers often lack U.S. credit or income records.
This guide explains who qualifies, what documents replace a U.S. credit report, and how Florida's international buyers finance homes and rentals. Mortgage Capital, NMLS# 1859012, closes foreign national loans across Florida.
Who these loans are for
Foreign national loans serve buyers who live abroad or hold non-immigrant visas and want a Florida vacation home, second home, or rental. You do not need U.S. citizenship or a green card.
Florida draws buyers from Latin America, Canada, and Europe, and lenders here are experienced with international files.
Documentation in place of U.S. credit
Without a U.S. credit score, lenders use a credit reference letter from your home-country bank, proof of assets, and sometimes an international credit report. A valid passport and visa establish identity.
Income is documented through employer letters, tax records from your home country, or business financials, often translated and converted to U.S. dollars.
Down payment and terms
Expect 25% to 40% down. Foreign national loans carry higher rates than standard mortgages because of the added risk and documentation, and they are usually portfolio or non-QM products.
Many international buyers offset the higher rate by financing only part of the purchase and bringing a large down payment.
Property types and uses
These loans finance single-family homes, condos, and small multifamily properties used as second homes or rentals. Warrantable condos are easiest; non-warrantable units need specialty lenders.
DSCR-style qualifying on rental income is available for investment purchases, which suits buyers without U.S. income.
Closing as an international buyer
You can often close remotely through a U.S. consulate or with a power of attorney, which is common for buyers who cannot travel. Funds are wired from abroad with proper documentation.
Plan extra time for translations, currency conversion, and international wires so the closing stays on schedule.
Complete Foreign National Mortgage Guide: step by step
Frequently asked questions
Can a non-U.S. citizen get a mortgage in Florida?
Yes. Foreign national loans let non-residents buy without U.S. citizenship, a green card, or a U.S. credit score.
What down payment do foreign nationals need?
Typically 25% to 40%, depending on the lender, property, and documentation provided.
Do I need a U.S. credit score?
No. Lenders use a credit reference letter from your home-country bank and proof of assets instead.
Are rates higher for foreign national loans?
Yes, because of the added risk and documentation. Many buyers offset this with a larger down payment.
Can I buy a rental property as a foreign national?
Yes. DSCR-style qualifying on the property's rent is available, which suits buyers without U.S. income.
Can I close from outside the U.S.?
Often yes, through a U.S. consulate or a power of attorney, which is common for international buyers.
What documents do I need?
A valid passport and visa, a bank reference letter, proof of assets, and income records, often translated to English.
Can foreign nationals buy condos in Florida?
Yes. Warrantable condos are easiest; non-warrantable units require specialty lenders at higher down payments.