Getting a mortgage as a foreign national
Foreign nationals — buyers who live abroad and have no U.S. residency, SSN, or credit history — can still purchase U.S. property, most often through a specialized 'foreign national' loan. These are non-QM, portfolio products built specifically for non-residents, frequently used for vacation homes and investment properties.
The trade-off is straightforward: you skip the U.S. credit and residency requirements, but you bring a larger down payment and document your income and assets from your home country instead.
Credit history
No U.S. credit is required. Foreign-national programs are designed for borrowers with no domestic FICO score. Lenders may request a credit reference letter from your home-country bank, a history of on-time obligations abroad, or simply rely on a large down payment and verified reserves as the risk offset.
Income documentation
Income and assets are documented from abroad: foreign tax returns or employer/CPA letters, bank statements (often translated and sometimes converted to U.S. dollars), and proof of the source of funds. For investment purchases, many lenders skip personal income entirely and qualify on the property — see DSCR below.
If you’re self-employed on top of your status, the self-employed mortgage guide and bank statement loans cover how your business income qualifies.
Down payment
Substantially larger — commonly 25–40% down. The bigger down payment is the core risk offset that lets lenders skip U.S. credit and residency. Reserves (often 6–12 months) are also typically required, held in a U.S. or verifiable account.
Loan programs open to you
- Foreign national loan — non-QM portfolio product for non-residents; no SSN or U.S. credit needed
- DSCR loan — for investment property, qualifies on the rental income, not personal income
- Asset-based / asset-depletion — for buyers with large verifiable liquid assets
- Cash purchase, then delayed-financing cash-out — a common route for some foreign buyers
Best-fit path
Foreign national loan — The purpose-built path for non-residents: no SSN or U.S. credit required, foreign income and assets accepted, in exchange for a larger down payment. The standard choice for a foreign national buying a second home.
Also worth comparing:
- DSCR loan — Buying a rental? A DSCR loan qualifies on the property's projected rent rather than your personal income — ideal for foreign investors who'd rather not document overseas earnings.
- Asset-depletion loan — If you hold significant verifiable liquid assets, an asset-based program can convert them into qualifying capacity without relying on income documentation.
Compare every option side by side on the loan types page, or take the 5-question loan quiz.
Key consideration: source of funds and documentation logistics
Document checklist
FAQ
Yes — through a foreign-national loan. These non-QM programs are built for non-residents and require neither an SSN nor a U.S. credit score. Instead, you document foreign income and assets and put down a larger amount, typically 25–40%.
Commonly 25–40%. The larger down payment is what lets lenders forgo U.S. credit and residency requirements. Plan for reserves as well — often 6–12 months of payments held in a verifiable account.
Often a DSCR loan. It qualifies on the property's expected rental income rather than your personal foreign income, which sidesteps the overseas-documentation burden entirely. It's a popular route for foreign investors buying rentals.
Educational information only — not financial, immigration, or legal advice, and not a quote, pre-approval, or offer of credit. Program availability and ranges are illustrative and vary by lender. Mortgage Merlin is a publisher, not a lender or broker.