Foreign National Loans: Buy US Investment Property Without US Credit

These are investor (business-purpose) loan programs, secured by non-owner-occupied US rental property; not for a home you or your family plan to live in.

Yes, you can finance US investment property without a US credit score, US income, or, on many programs, an ITIN. Foreign national loans qualify the deal on the property's rental cash flow, its debt service coverage ratio (DSCR), instead of your personal finances. The trade for lending without a US credit file is a larger down payment and a deeper reserve cushion than a domestic investor would post; we cover the specifics below.

Foreign national financing is part of our Non-QM loan programs, flexible options for borrowers who don't fit the standard US mortgage box. Here is how it works if you live and earn abroad and want to own US rental property.

Who qualifies for a foreign national loan?

Foreign national programs are designed for non-US citizens who are not permanent US residents: investors who live and earn abroad but want to hold US real estate. You do not need a green card, US residency, or a US employer.

What lenders look for instead:

• A valid passport from your country of citizenship, plus visa or entry documentation where applicable. Common visitor, student, and temporary-work visa categories are accepted on select programs, as is Visa Waiver Program (ESTA) travel. Borrowers holding a US primary residence or diplomatic immunity are not eligible.
• A US bank account, opened well before closing, to receive your funds to close and handle loan payments.
• Verifiable liquid assets for the purchase, closing costs, and reserves. Funds held abroad can be used once they are documented; the process is routine, and we walk you through it.
• A credit substitute in place of a US credit report, since most applicants have no US file at all.

First-time US investors are welcome; you do not need to already own American property to start. Two boundaries worth knowing up front: borrowers from OFAC-sanctioned countries are not eligible, and certain country-specific overlays apply on some programs. A quick scenario review confirms your eligibility before you spend money on anything.

Who this fits: four investor profiles

• The European entrepreneur building a US rental portfolio. She runs a business in Germany, has never held a US credit card, and keeps her savings in a home-country bank. She qualifies on each property's own cash flow, documents her assets abroad, and forms a US LLC before closing so the portfolio grows under one entity.
• The Canadian investor buying a Florida condo. Condo leverage runs somewhat lower than leverage on a detached home, and he clears that comfortably with a larger down payment. The unit's rental numbers do the qualifying; his Canadian income never enters the file.
• The Latin American investor on a visitor visa. An investor from Mexico or Colombia targeting single-family rentals in Texas or Florida, with liquid assets in a major home-country bank, ready to be documented, converted, and wired ahead of closing.
• The European vacation-rental buyer. A buyer from France or Spain purchasing a short-term rental and qualifying on projected booking income rather than a long-term lease. Many programs allow this path, with adjusted terms; we match the scenario to the programs that do.

If one of those sounds like you, the rest of this page explains the mechanics.

How can I qualify without US credit or US income?

Because the loan qualifies on the property, not on you. These are DSCR loans: the underwriter measures whether the property's rent covers its full monthly payment, principal, interest, taxes, insurance, and any association dues (PITIA).

Most programs look for rent that fully covers that payment. Typically 1.00 or higher; short-term-rental qualification paths often require somewhat more. A vacant property is fine; the appraiser establishes market rent, and that figure is used to qualify. Want to check a property's numbers first? Run them through our DSCR calculator before you commit to anything.

Because these are business-purpose loans, your personal earnings abroad do not need to be documented, and US tax returns, W-2s, and pay stubs are not part of the file. What you will provide is straightforward: identity documents, asset statements, entity paperwork if you vest in an LLC, and the property file itself.

What does a typical foreign national loan look like?

Foreign national structures are conservative by design: a bit more equity and a bit more cushion in exchange for lending without a US credit history.

• Leverage. Up to 75% on loans up to about $1,000,000; maximums step down materially for larger loan amounts. In plain terms, plan on a down payment of at least a quarter of the purchase price, and more as the loan grows.
• Loan sizes. From $100,000 on most programs. Typically $1,500,000 to $2,500,000; up to $3,000,000 on select programs. State-specific caps apply in a few markets.
• Reserves. Typically 8 to 12 months of PITIA regardless of loan size; foreign and overseas assets are often acceptable for reserves.
• Property types. Single-family, townhomes, PUDs, condos (including non-warrantable condos and condotels on select programs), and 2-4 units; rural and leasehold properties on select programs. Manufactured homes are not eligible.
• Vesting. Many foreign investors hold title through a US entity. LLC and entity vesting is welcome, with a personal guaranty typical; some programs require it.
• Gift funds. Allowed on select programs with a minimum contribution from the borrower's own funds; not allowed on others.

Hypothetical example (illustration only; no specific terms implied): an investor in London wants a single-family rental in the US. She forms a US LLC, opens a US bank account, and moves her documented savings across well ahead of closing. The appraisal supports market rent comfortably above the property's projected payment, so the coverage ratio clears the program minimum, and she closes without ever having held a US credit card. Program availability depends on the property's state; contact us to confirm yours.

How to prepare: the habits that keep files on track

Most foreign national files that stall trace back to logistics, not to the borrower or the property. A little early preparation removes nearly all of the friction:

• Move your funds early. Funds to close generally need to land in a US account well before the closing date, and international wires take longer than you expect. Start the transfer as soon as your offer is accepted, not the week of signing.
• Document the currency conversion. Foreign accounts are documented with recent statements, translated and converted to US dollars at published exchange rates. Typical seasoning is 30 to 60 days, and funds to close generally must arrive in a US account several days before closing. Build in time for statement translation if your bank does not issue English statements.
• Form your US LLC early. Some programs require entity vesting, and member counts are capped, so set the entity up before you write offers rather than during escrow.
• Plan the signing route early. Signing outside the US typically requires notarization at a US embassy or consulate, or a Hague apostille where applicable. Power of attorney is restricted on many programs, and remote online notarization is generally not accepted; plan signing logistics early. Embassy and consulate appointments can book out weeks ahead in some cities; get on the calendar as soon as your closing date firms up.
• Know how your US footprint reads. Holding a US primary residence changes your eligibility category, and the program menu changes with it. Tell us up front so we match you to the right shelf.
• Confirm country eligibility first. Restrictions tied to your country of citizenship exist on some programs; a quick scenario review settles the question before you spend money on appraisals or travel.

The honest trade-offs vs. a domestic investor loan

A foreign national loan is a deliberate structure, and it costs something relative to what a US-credit investor gets. Here is the fair comparison:

• Lower maximum leverage. Up to 75% on loans up to about $1,000,000; maximums step down materially for larger loan amounts. That means a larger down payment than a comparable domestic investor would bring to the same property.
• Heavier reserves. Typically 8 to 12 months of PITIA regardless of loan size; foreign and overseas assets are often acceptable for reserves. Expect to show more post-closing cushion than a standard domestic investor profile.
• Tighter cash-out. Up to 70%, with dollar caps on cash-in-hand at higher leverage; larger cash-out amounts generally require much lower leverage. If accessing equity is your primary goal, tell us early so we structure around the caps.
• Longer logistics. Translations, currency conversion, entity setup, embassy appointments, and international wires all add days that a domestic file would not need.
• A credit substitute is still required. No US credit score or ITIN required on many programs; common substitutes include CPA letters and bank reference letters. It is lighter than building a US credit file from scratch, but it is not nothing.
• Caps on portfolio size. Programs commonly cap a foreign national's total financed properties (around ten, including the subject property).

What you get in exchange is real: access to US rental property without a US credit history, qualification that never touches your personal income, and underwriting that judges the deal rather than your passport. For most overseas investors, that trade is exactly the point.

Foreign national loan FAQs

Do I need US credit or an ITIN?

On many programs, neither. No US credit score or ITIN required on many programs; common substitutes include CPA letters and bank reference letters. Underwriting leans on the property's income, your identity documents, and your documented assets rather than a FICO score you do not have. We confirm the exact substitute your scenario needs during a no-cost review, before you spend anything on appraisals.

What visas qualify?

Common visitor, student, and temporary-work visa categories are accepted on select programs, as is Visa Waiver Program (ESTA) travel. Borrowers holding a US primary residence or diplomatic immunity are not eligible. You do not need a green card or permanent residency; these programs exist precisely because you do not have one. Bring your travel documents to your scenario review and we will confirm which programs accept your status.

Can I use Airbnb or other short-term rental income?

Often, yes. Usable on many programs, typically with reduced leverage, a higher minimum DSCR, and minimum loan-size requirements; some programs do not allow it for foreign nationals. Projected booking income can be supported through a market analysis where no operating history exists. Because the terms adjust, tell us it is a short-term rental at the start so we quote the right programs.

Can I close from outside the United States?

In many cases, yes; investors routinely complete purchases without traveling to the US. Signing outside the US typically requires notarization at a US embassy or consulate, or a Hague apostille where applicable. Power of attorney is restricted on many programs, and remote online notarization is generally not accepted; plan signing logistics early. Your title company and our team coordinate the details, and booking your signing appointment early keeps the closing date intact.

Can my LLC hold title?

Yes, and many foreign investors prefer it. Borrowers from OFAC-sanctioned countries and borrowers with diplomatic immunity are ineligible, and certain country-specific and state-specific overlays apply. US-based LLC vesting is available (required by some programs), typically limited to four members, each providing a personal guaranty. A US entity can simplify management, and it often aligns with the advice international buyers get from their own tax and legal advisors. See our LLC and entity vesting page for how entity-vested loans are structured.

How are foreign assets documented?

Foreign accounts are documented with recent statements, translated and converted to US dollars at published exchange rates. Typical seasoning is 30 to 60 days, and funds to close generally must arrive in a US account several days before closing. In practice that means gathering recent statements, arranging translation where needed, and documenting the conversion into US dollars. It is routine paperwork once you know the sequence, and we walk every borrower through it at the start.

What documents should I gather?

Passport and visa documentation, proof of funds, and business-purpose and non-owner-occupancy certifications. Personal income documentation is generally not required on DSCR-based programs. Nothing on that list involves US tax returns, W-2s, or pay stubs. Most borrowers can assemble the full package quickly once the templates are in hand, and starting while you shop for property keeps the closing timeline honest.

Ready to look at your US investment scenario?

Tell us your target market, your citizenship, and your available liquid assets. We will tell you what is realistic, which programs fit, what leverage to expect, and what documents to gather, before you spend money on appraisals or travel. Straight answers, since 2005. Or call 1-800-505-8121.