Guiding global clients to local opportunities with over 21 years of mortgage experience.
Foreign National Mortgage
You may be able to finance U.S. real estate even if you do not have U.S. residency, U.S. employment or an established U.S. credit history.
Alon Finance helps international buyers compare mortgage programs based on their income, assets, property and investment goals.
Program requirements vary; these points are not universal guarantees.
Qualification paths
Qualification is based primarily on documented income. Eligible income earned outside the U.S. may be considered.
Eligible investment properties may qualify using rental income instead of personal employment income.
Exact documentation and DSCR calculations vary by lender and program.
Side by side
| Criteria | DSCR | Full Doc |
|---|---|---|
| Qualification Method | Property rental income compared with eligible housing expenses | Borrower's documented eligible income |
| Personal Income | Generally not the primary qualifying method | Reviewed and documented under program guidelines |
| U.S. Credit History | May not be required | May not be required |
| Property Ownership / LLC | Eligible programs may permit personal or LLC ownership | Availability depends on the selected program |
| Assets | Funds and source documentation may be reviewed | Assets and source documentation are reviewed |
| Reserves | Requirement varies by lender and transaction | Requirement varies by lender and transaction |
| Documentation | Typically focused on identity, assets, entity and property | Also includes applicable employment or self-employment verification |
| Down Payment | Varies by lender, property, loan amount and profile | Varies by lender, property, loan amount and profile |
Down payment and reserve requirements vary by lender, property type, loan amount and borrower profile. Historical examples are not current guarantees.
There is no single down-payment requirement for every Foreign National transaction. The structure depends on the lender and program, property type, purchase price or loan amount, DSCR versus Full Doc, borrower profile and reserves. Some programs may allow lower down payments; the actual structure should be determined from your specific scenario.
Ask About My ScenarioSome lenders require additional liquid assets to remain available after closing. Reserves are commonly measured as a number of months of the property's qualifying housing expense.
Reserve requirements vary and reserve funds are generally not an additional lender fee.
Depending on the loan structure, property taxes and homeowners insurance may be collected monthly with the mortgage payment and held in an escrow account. The servicer then pays applicable tax and insurance bills when due. Escrow requirements vary by loan and program.
From review to closing
We review the buyer's situation and identify appropriate lender and program options. A financing letter may be prepared when appropriate.
The buyer selects a property and submits an offer.
After terms are agreed, the contract is signed and the deposit is generally placed with the title or escrow company according to the contract. Deposit rights depend on the contract and contingency terms.
The application is completed and program-specific documents are provided. Alon Finance coordinates mortgage documentation with the other transaction parties as needed.
The lender orders the appropriate independent property valuation.
The lender reviews the borrower, assets, property and selected program requirements.
Underwriting identifies any additional items needed before final approval.
After applicable underwriting conditions are satisfied, the file may receive Clear to Close.
Final documents are signed, required funds are delivered and title transfers under the approved closing instructions.
Understand the details
A home inspection is different from the lender's appraisal. An inspector evaluates the property's physical condition, including major systems and components, and may identify issues the buyer wants to address before closing. Scope, cost and contractual rights vary.
The lender generally requires an independent valuation. A licensed or certified appraiser analyzes the property, market data and comparable sales. Timing and cost vary by property and market.
Cancellation and deposit rights depend on the purchase contract and contingency terms.
The lender has reviewed the loan but requires specific items before final approval. These may include updated statements, explanations, appraisal, insurance, title or condo documents and other program-specific conditions. Additional requests are a normal part of underwriting.
Once required underwriting conditions are cleared, the file moves toward final loan documents and closing, subject to any remaining final closing requirements.
The lender, borrower, title or closing company and other parties coordinate final documents and funds. The buyer sends cash to close under verified title instructions, the lender sends loan proceeds, and the title company settles the transaction and transfers title.
Closing from abroad
Depending on the lender, title company, documents and jurisdiction, possible methods may include signing in the U.S., mobile-notary closing, a U.S. Consulate or Embassy abroad, an approved Power of Attorney, or Remote Online Notarization where accepted. The signing method must be approved in advance; not every party accepts every method.
Ask Us About Overseas ClosingPrepare with confidence
Your exact document list depends on the selected program. Not every borrower needs every item.
IdentityPassport and applicable visa or immigration documentation
AssetsRecent bank statements and documentation of available funds
BankingBank reference information where required
Salaried BorrowersEmployer verification where required
Self-Employed BorrowersAccountant or CPA documentation where required
Foreign ResidenceProof of overseas address where required
PropertyPurchase contract and property-related documents
A transaction may involve appraisal, inspection, homeowners insurance, condo questionnaire or HOA-related fees, title and settlement costs, lender costs, prepaid taxes and insurance, and other property- or program-specific expenses. Some are paid before closing; others are included in cash to close. Exact costs depend on the transaction.
Alon Finance
Common questions
Approved answers to the questions international buyers ask most often.
View All FAQsYour specific transaction
Foreign National mortgage requirements vary significantly by borrower, property and lender. Send us the basics and we'll help you understand which options are worth exploring.
DIRECT INQUIRY
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