What is a foreign national loan?
A foreign national loan is a mortgage for non-US citizens who want to buy or refinance US real estate but do not have a Social Security number, US credit history, or US tax returns.
These loans are asset-based and income-based, but the income and assets can be from your home country. The most common path is a Foreign National DSCR loan, which qualifies you on the property's rental income — not your personal income. That means a passport, foreign bank statements, and a lease or market rent analysis can replace the W-2s and SSN that a conventional loan demands.
Down payments are higher than conventional — typically 25 to 40% — because the lender is taking on a borrower with no US credit footprint. Rates are also a bit higher. But the trade-off is access: you can buy, finance, and build a US real estate portfolio without becoming a US resident, getting a US credit card, or filing US taxes. Many of our foreign national clients close in an LLC for liability protection and hold the property as a long-term rental or vacation home.
Foreign national loans at a glance
Things most people don't know about foreign national loans
The details that make US real estate accessible from abroad.
A passport replaces a Social Security number
You do not need an SSN to get a US mortgage. Foreign national programs accept a passport as your identity document and use a foreign credit report or asset verification instead of a US credit pull. The loan is reported under your name and passport, not a US credit file.
The property's rent can qualify you
A Foreign National DSCR loan qualifies you on the rental income the property generates — not your personal income. A lease agreement or a 12-month market rent analysis (for short-term rentals) is the income documentation. Your foreign income and assets are reserves, not the qualifying income.
You can close in an LLC from day one
Most foreign national investors close in a US LLC for liability protection and tax simplicity. The LLC owns the property, the loan is in the LLC's name, and you sign as the guarantor. This keeps the US real estate isolated from your personal assets abroad.
A US visa can lower your down payment
If you hold a work visa (H1-B, L1, O1, E2) or a green card, some programs treat you as a resident alien rather than a foreign national — dropping the down payment to 20 to 25% and offering rates closer to conventional. Your visa status directly affects your pricing.
An ITIN opens more doors
An Individual Taxpayer Identification Number (ITIN) is not an SSN, but it lets the IRS track your US rental income and opens programs that a pure foreign national loan cannot — including some bank statement and DSCR options at lower down payments.
Foreign assets count as reserves
Lenders want to see 6 to 12 months of reserves — but those reserves can be in a foreign bank account. You do not need to move the money to a US bank before closing; you just need to document it and show it is seasonable and accessible.
Check your deal with the DSCR calculator
Most foreign national investors use a DSCR loan. Enter the purchase price, rent, and costs to see your DSCR ratio, monthly cash flow, and the largest loan a 1.0 DSCR supports at your rate.
DSCR Calculator
Debt Service Coverage Ratio = monthly rent ÷ PITIA (P&I + taxes + insurance + HOA). Lenders want 1.0 or higher.
DSCR Ratio
1.01
Meets the 1.0 minimum
Max loan at DSCR = 1.0
With this rent and rate, the largest loan a 1.0 DSCR supports is $283,175 — a max purchase price of $353,969.
Important Note
DSCR loans are Non-QM. No personal income or tax returns are used. LTV, reserves, and minimum DSCR vary by lender; many require 1.0–1.25.
Who a foreign national loan fits best
- Non-US citizens buying US investment property without an SSN or US credit.
- Foreign investors building a US rental portfolio (long-term or Airbnb).
- Visa holders (H1-B, L1, O1, E2) who want better terms than a pure foreign national loan.
- High-net-worth individuals using foreign assets to qualify for US real estate.
- Investors who want to close in a US LLC for liability protection.
Frequently asked questions
No. Foreign national loan programs accept a passport as your identity document and use foreign credit reports or asset verification instead of a US credit pull. If you have an ITIN, it can open additional programs at lower down payments, but an SSN is never required for a foreign national mortgage.
Educational content only. This page is not financial, legal, or tax advice, a commitment to lend, or an offer of credit. Program requirements and terms vary by lender and change over time; figures cited reflect the sources below as of the dates noted, and eligibility always depends on your full financial profile. Liuver Duran, NMLS #2579601. Sociable Mortgage LLC, NMLS #2498240. Equal Housing Opportunity.
Sources
Your next step