Who this is for
Foreign national loans are mortgages for non-US citizens who live outside the United States and are buying a second home or investment property here. The borrower often has no Social Security number, no US credit history and no US tax returns. Specialist lenders qualify on a different set of factors.
Foreign national vs. non-permanent resident. If you live and work in the US on a visa (for example H-1B, L-1 or E-2), you're usually treated as a non-permanent resident, not a foreign national, and may have more options. FHA no longer lends to non-permanent residents (HUD ML 2025-09), but other programs may. Green card holders can use the same programs as US citizens.
Common buyers: Canadian snowbirds, European retirees, Latin American investors and business owners abroad with family in Florida.
How foreign national lending works
A US bank can't pull a credit report on someone with no Social Security number. So foreign national loans use a different qualifying playbook:
- International credit reports - available from some countries (Canada and the UK, for example). When available, the lender uses it as the credit profile.
- Reference letters - when no credit report is available, many lenders accept letters from banks or creditors confirming accounts in good standing.
- Asset verification - home-country bank and brokerage statements, translated into English. The down payment and closing funds must be sourced and are usually moved to a US account before closing.
- Income verification - varies. Some lenders accept an accountant's letter or home-country tax documents. Many foreign national programs are for investment property and qualify on the property's rent instead (see DSCR).
What you actually need
- Down payment and reserves: set by each lender, and higher than for US borrowers. Expect a larger down payment than on a domestic loan and several months of payments in reserve, often held in a US account. We compare lenders' guidelines for your scenario.
- Identification - a valid passport, and often a second ID. Some programs also ask for a valid US visa; others don't.
- US bank account - usually needed for closing funds and payments.
- ITIN (Individual Taxpayer Identification Number) - some lenders require one, others don't. It's the IRS's ID for people who aren't eligible for a Social Security number.
Property type matters
What you're buying changes which lenders fit:
- Investment property (long-term rental) - the most widely available foreign national option, often qualified on rental income like a DSCR loan.
- Vacation home / second home - offered by fewer lenders than investment loans. The home must be for your own use, not rented under a rental program.
- Short-term rental (Airbnb) - fewer lenders. Check the HOA or condo documents and local rules first; many Florida associations restrict rentals under 30 days.
- Condo - the lender reviews the condo project. Florida requires milestone inspections and structural integrity reserve studies (SIRS) for condo buildings 3 or more habitable stories tall (F.S. 553.899, 718.112). Ask for the reports and any special assessments early. Non-warrantable condos and condo-hotels need specialist lenders.
Florida-specific notes
- Florida's foreign-buyer law. Florida restricts some purchases by people and entities tied to designated "countries of concern," including near military installations and critical infrastructure, and buyers sign an affidavit at closing (F.S. 692.201-692.205). A federal appeals court declined to block the law in 2025. If you are a citizen or resident of China, Russia, Iran, North Korea, Cuba, Venezuela or Syria, talk to a Florida real estate attorney before you sign a contract.
- FIRPTA when you sell. When a foreign person sells US real estate, the buyer generally must withhold 15% of the sale price for the IRS under FIRPTA, with reduced or no withholding in some cases. It doesn't affect your purchase, but plan for it with a US tax professional.
- Insurance. Wind and flood coverage is part of qualifying, and coastal premiums vary widely. Get an actual quote early.
- Community approvals. Many Florida condo and HOA communities have a buyer application and approval process. Build that time into your contract.
- Property tax. Florida's homestead exemption requires permanent residence in Florida, so it generally doesn't apply to part-time foreign owners (F.S. 196.031). Non-homestead residential property instead has a 10% annual cap on assessment increases for non-school taxes, which resets when the property sells (F.S. 193.1555). Budget for the full tax bill based on the purchase price.
Common foreign national scenarios
Gulf Coast second home
Canadian credit report available, retirement income documented. A second-home program from a lender that offers one.
Miami condo rental
No credit report available, so bank reference letters instead. Qualifies on the unit's rent. The condo project review comes first.
Waterfront vacation home
Home-country tax documents and an accountant's letter support income. Wind and flood insurance quotes are part of the file from day one.
Orlando-area vacation rental
A home in a community that allows short-term rentals. Qualifies on rental income with a lender that accepts STR income for foreign nationals.
When foreign national isn't the right path
- You have a green card - you can use the same programs as US citizens, such as conventional or FHA.
- You live and work in the US on a visa - you may qualify as a non-permanent resident, with more options than a foreign national loan.
- You're paying all cash - financing may not be worth it on a smaller purchase. Compare both.
- You can't document assets - foreign national lending depends on sourced, verifiable funds.