In 2024, international buyers invested $42 billion in US residential properties, according to the National Association of Realtors. Yet, many foreign nationals assume that securing a mortgage in the US is impossible without a US credit history.
Good news! HomeAbroad Loans offers foreign national mortgages designed specifically for expats and global investors, allowing them to qualify without a US credit history.
This guide explores how these specialized loan programs work, their benefits, and the steps to qualify—helping you turn your US homeownership or investment dream into reality!
Key Takeaways:
➡️ Foreign nationals, including US newcomers and investors, can secure loans in the US without a US credit history.
➡️ Expats and investors can qualify for a foreign national mortgage even without a green card or visa.
➡️ Foreign national mortgages can help you purchase primary residences, vacation homes, or investment properties in the US.
Table of Contents
Can Foreigners get a Mortgage in the US?
Yes, foreign nationals can secure a mortgage and buy a home in the US even with little to no credit history. Your citizenship, immigration, or residency status does not affect your eligibility for a mortgage or property ownership.
At HomeAbroad Loans, we specialize in foreign national mortgages—tailored loan programs that help H1B, L1, and other visa holders, as well as foreign investors living outside the U.S., qualify for financing without a US credit history.
Curious about foreign national mortgages? We’ve got you covered!
What is a Foreign National Mortgage?
A foreign national mortgage is a tailored loan program designed for US newcomers and foreign investors, allowing them to purchase US real estate without a US credit history, green card, or citizenship.
At HomeAbroad Loans, we provide these tailored mortgage solutions with expert guidance and a seamless financing experience. Our team’s international expertise ensures you find the perfect mortgage for your needs.
Types of Foreign National Mortgage Loans
At HomeAbroad Loans, we offer a variety of foreign national mortgage options for you to meet your different home buying and investment needs.
Let us look at these mortgage types in brief: Full Documentation Loans, DSCR (Debt Service Coverage Ratio) Loans, Fix and Flip Loans, and Bridge Loans.
Now, let us look at these mortgage programs in detail.
Foreign National Mortgage Programs for Investment
1. DSCR Loans
A Debt Service Coverage Ratio (DSCR) loan is a US mortgage program designed for real estate investors who may not have a US credit history.
This loan considers the income from the investment property instead of the borrower’s personal income, making it ideal for those without a US credit history.
With these unique features and qualification methods, DSCR loans are a convenient US mortgage option for foreign real estate investors.
Benefits:
✔ No US credit history needed
✔ Qualification based on property’s income
✔ Multiple loans can be financed at the same time
✔ Fast approvals in less than 30 days
DSCR Loan Requirements for Global Investors:
| DSCR Ratio | 0.75 or Higher |
| Credit Score | No US Credit Needed |
| Down Payment | 25% |
| LTV Ratio | Up to 75% for Purchase and Rate/Term Refinance Up to 70% for Cash Out Refinance |
| Cash Reserves | 6 Months |
| Loan Amount | $75K – $10M |
| Documents | 1007 Rent Schedule or Historical Rent Receipts |
2. Fix and Flip Loans
Fix and Flip Loans are tailored for real estate investors without US credit, aiming to purchase, renovate, and resell properties for profit.
These short-term loans cover both the property purchase and renovation, allowing investors to capitalize on the increased property value through renovation.
Benefits:
✔ Quick approval and closing under 15 days
✔ Funds for purchase and renovation
✔ No US credit history needed
✔ Competitive interest rates
Fix and Flip Loan Requirements for Foreign Investors:
| Loan Term | 6–24 months |
| LTC (Loan-to-Cost) | Up to 85% |
| ARV (After Repair Value) | Up to 75% |
| Renovation Plan | Detailed plan with cost estimates |
| Experience Requirement | Proof of previous successful flip projects |
| Approval Time | Fast approvals within 2 weeks |
3. Bridge Loans
Bridge loans provide short-term financing for real estate investors who need immediate funds to bridge the gap between selling an existing property and purchasing a new one.
They provide quick access to capital without a US credit history.
Benefits:
✔ Fast funding to secure new property before selling the old one
✔ Flexible terms and repayment options
✔ Usable for various property types
✔ Close in less than 15 days
Bridge Loan Requirements for Foreign Investors:
| Loan Term | 6–24 months |
| Down Payment | 30% |
| LTV (Purchase) | Up to 75% |
| LTV (Rate Term Refinance) | Up to 70% |
| LTV (Cash-Out Refinance) | Up to 65% |
| Equity Requirement | Proof of existing property equity |
| Exit Strategy | Required (e.g., sale of property) |
| Property Appraisal | Required |
| Approval Time | Fast approvals within 2 weeks |
4. Full Documentation Loans
A Full Documentation Loan is an option for foreign investors with no US credit history. It requires detailed documentation to verify income and assets.
Since your US credit history is not available, we require an International Credit Report (ICR) from your home country to assess your creditworthiness and financial history.
Alternatively, a bank reference letter or proof of payment history on two tradelines, such as a credit card or mortgage in your home country, can be used instead of a credit report from the home country.
Benefits:
✔ Qualification with no US credit history
✔ Foreign income and credit accepted
✔ Can qualify based on assets
Full Documentation Loan Requirements for Foreign Investors:
| Debt-to-Income Ratio: | Less than 43% |
| Credit Score: | No US credit needed |
| Down Payment: | 20%-25% |
| Loan Term: | Up to 30 Years |
| Cash Reserves: | 6 months |
| Income Documents: | Foreign income and asset documents. International Credit Report or alternative proof of creditworthiness from home country |
| Approval Time: | Within 30 Days |
Foreign National Mortgage Program for Primary Residence
US Newcomer Mortgage
Our US Newcomer Mortgage Program helps US newcomers secure financing for buying a primary residence without a US credit history. We verify your US employment and income while assessing creditworthiness through your home country credit report or alternative documents like a bank reference letter.
Benefits:
✔ Uses your home country credit report
✔ No green card required
✔ No two-year U.S. work history needed
| Down Payment | 20% |
| Credit Score | No U.S. credit needed |
| DTI (Debt-to-Income) Ratio | Max 43% |
| Income Documents | Pay stubs and employment verification |
| Loan Tenure | Up to 30 years |
| Loan Amount | Up to $3 million |
| Cash Reserves | 6 months |
| Foreign Assets | Accepted for down payment, closing costs, and reserves |
| Prepayment | No prepayment penalty |
| Other Documents | International credit report or alternative proof of creditworthiness from home country |
HomeAbroad Loans simplifies US real estate and mortgage solutions for foreign nationals. We offer the best loan terms and have experienced mortgage officers with international expertise. Our team ensures a smooth and hassle-free financing experience tailored to your unique needs.
For domestic investors, our Ziffy Mortgages platform provides tailored mortgage options to help you achieve your real estate investment goals smoothly.
Let’s hear from our client, who successfully secured a foreign national mortgage with no US credit history has to say:
“We never thought buying a property in Hawaii would be possible for us as Canadians without a US credit history. But HomeAbroad made it so easy! They focused on the property’s income, not our finances, and guided us every step of the way. Now we own our dream property in Hawaii, and we couldn’t be happier. Thank you, HomeAbroad!"— Liam and Emma, Canadian Investors
Ready to begin? Get started with HomeAbroad Loans today!
How to Apply for a Foreign National Mortgage
Applying for a foreign national mortgage can be a straightforward and seamless process with the right preparation and expert guidance from HomeAbroad.
Here’s how to get started:
Step 1: Understand Your Financial Situation
Start by creating a budget to understand how much you can allocate towards a mortgage.
- Review your income, expenses, and savings to get a clear picture of your financial standing.
- Use our Foreign National Mortgage Calculator to estimate your potential loan amount and monthly payments.
This step helps you set realistic expectations for your home search and ensures you are financially prepared.
Step 2 – Get Started with HomeAbroad Loans
Choosing the right lender who specializes in foreign national loans is crucial.
At HomeAbroad Loans, we offer:
- Competitive rates
- Flexible loan terms
- Expert support for US newcomers and foreign investors
We specialize in providing foreign national mortgages tailored for buyers without a US credit history. Our dedicated mortgage officers will walk you through every stage of the process, ensuring a smooth journey to homeownership.
Pre-qualify for a US mortgage as a foreigner
Step 3: Connect with a HomeAbroad Mortgage Officer
Once we receive your details, one of our expert mortgage officers with international expertise will reach out to discuss your unique needs and answer any questions you might have.
Step 4 – Get Preapproval
Secure a preapproval letter to show your borrowing capacity and serious intent to buy the property.
This letter enhances your standing with sellers, making your offers more competitive.
Our mortgage officer will guide you through providing the necessary financial details based on your specific foreign national mortgage program for preapproval.
Step 5 – Gather Your Documents
Gather the required documents specific to your loan program. Our mortgage officer will provide a detailed list of documents and personalized assistance to ensure a smooth and fast approval process.
Step 6 – Make an Offer
Found the perfect property? It’s time to make an offer.
- Work with our CIPS(Certified International Property Specialist) agents to simplify the home-buying journey.
- Our agents will help you conduct market research and craft a competitive offer, using their negotiation skills and insights into market trends.
Get a HomeAbroad agent today to secure your desired property.
Step 7 – Lock in Your Interest Rate
Interest rates can change daily, so securing a favorable rate is essential. Our mortgage officer will assist you in locking in the best possible rate based on market conditions.
This step ensures financial stability and protects you from potential rate increases before your loan closes.
Step 8 – Underwriting & Appraisal
After submitting your loan application, the underwriting process begins.
- The underwriter reviews your application to confirm you meet all loan requirements.
- They will also order a property appraisal to assess the current market value of the home.
- If the underwriter has any questions or needs additional information, they will contact you.
Based on their evaluation, the underwriter will either approve your loan, reject it, or approve with conditions.
Step 9 – Closing
Once your loan is fully approved and all conditions are satisfied, it’s time for the final step: closing.
During the closing meeting, you’ll review and sign all required documents, including loan agreements and closing paperwork.
Closing costs, such as appraisal fees and title search charges, will also be settled at this stage.
After completing these formalities, you’ll receive the keys to your new home!
At HomeAbroad Loans, our dedicated team of mortgage experts is here to guide foreign nationals through the complex process of securing a US mortgage to simplify your journey and help you achieve your homeownership dreams.
We assist foreign nationals with the help of our technology-driven platform to ensure a seamless mortgage application process.
We also offer remote closing services for foreign investors. No matter where you are in the world, our remote closing services make it easy for you to complete your property purchase from the comfort of your home.
With our expert guidance, you’re now ready to turn your dream of owning a home in the US into reality.
Congratulations!! You Are One Step Closer To Your Real Estate Journey
Finding the right lender is the key to success for foreign investors and US newcomers seeking foreign national mortgages, especially without a US credit history.
At HomeAbroad, we make this process simple. With our expertise and tailored solutions, we help you understand the unique challenges and ensure the best mortgage terms and guidance.
Trust HomeAbroad to turn your dream of owning US real estate into reality. Start your journey with us today—your path to homeownership begins here.
FAQs
Can foreign nationals close on a US mortgage from overseas?
Yes, it is possible. HomeAbroad Loans offers remote closing options, allowing you to complete the process from anywhere in the world.
What are the interest rates for foreign national mortgage loans?
HomeAbroad Loans offers the most competitive loan terms to enable foreign nationals to buy real estate in the US. Get a rate quote today.
Do I need a US credit history to buy a house?
Foreign national loans are tailored for foreign buyers without a US credit history. At HomeAbroad Loans we use credit reports from your home country and other assessment methods to bypass the traditional credit check.
What types of properties can I buy with a non-US citizen mortgage?
Foreign nationals can buy various types of properties, including single-family homes, condos, townhouses, and investment properties. The type of property you can purchase may depend on the specific loan program and lender requirements.
