No green card. No U.S. credit history. No Social Security number required. If you want to own property in America, there is a loan program built for exactly your situation, but not every foreign buyer needs this loan. Your visa status, residency and tax ID decide which program fits you, and that can affect your rate and fees.
Foreign national mortgage requirements at a glance
- Citizenship
- Non-U.S. citizen, non-permanent resident
- Credit
- Foreign credit report, or no U.S. credit required (some programs use an ITIN)
- Down payment
- Larger down payment typically required
- Income
- Foreign income documentation, or DSCR-based (no U.S. income needed)
- Property types
- Single-family home, condo, 2–4 unit investment property
- Occupancy
- Investment property or second home (varies by lender)
- ID required
- Valid passport; visa if applicable
General market guidelines, not a commitment from Wonder Rates. Requirements vary by lender and program.
foreign_national_infographic · 1600×900Not all foreign buyers are the same: which category are you?
This is the most important table on this page. Many lenders treat all non-citizens the same. They shouldn’t: your visa status, residency situation and tax ID determine which loan program fits you.
| Borrower type | Who they are | Program that may fit |
|---|---|---|
| Foreign national | Lives outside the U.S.; no long-term visa or U.S. residency | Foreign national loan, DSCR loan |
| ITIN borrower | Lives and works in the U.S. with an ITIN instead of an SSN | ITIN loan, some Non-QM programs |
| Visa holder | Lives and works in the U.S. on an H-1B, L-1, O-1, E-2 or similar visa | Conventional loan, depending on visa type, lawful presence and lender rules |
If you hold an H-1B or L-1 visa and work for a U.S. employer, you may qualify for conventional financing under Fannie Mae or Freddie Mac guidelines, which permit eligible non-permanent resident borrowers to be underwritten on the same terms available to U.S. citizens. Whether that applies to you depends on your visa category, legal residency status and the lender’s program rules, so check before you assume you need a foreign national loan. If you live outside the U.S. and have no visa, you need a foreign national loan, and qualification looks different.
Getting a foreign national mortgage through Wonder Rates
- 1
Tell us your situation
Share your visa or residency status, country of residence, target property type and estimated purchase price. This first conversation typically takes about 10 minutes, and we can then discuss which program may fit and what documentation may be required.
- 2
Submit your documents
Commonly requested documents include a valid passport, foreign income documentation or other evidence of income and assets, and recent bank statements. For DSCR-based loans, the lender may also request a rent schedule, lease or market rent documentation. U.S. tax returns may not be required for some programs, depending on the lender.
- 3
Get your approval
The lender evaluates the application under the selected program. Qualification may rely mainly on your documented foreign income and assets, or on the property’s rental income under a DSCR-based program; the exact DSCR calculation and minimum vary by lender.
- 4
Close remotely, if available and approved
Some transactions may be eligible for remote closing or other alternative signing arrangements, but this must be confirmed for your specific transaction before closing.
Can you close without traveling to the U.S.?
Remote closing may be available in certain transactions, but it is not guaranteed. Depending on the lender, state law, title or escrow company and notarization rules, the closing may be completed through an approved power of attorney (POA), a consular notarization appointment at a U.S. embassy or consulate, or Remote Online Notarization (RON) where legally permitted and accepted by all parties. Each option is subject to lender, title/escrow, legal and notarial approval.
Do not assume you will be able to complete the purchase without traveling to the United States until the lender, title or escrow company and other required parties have confirmed the arrangement. Closing timelines also vary by lender, program, property, documentation, title work and appraisal.
foreign_national_video · 16:9 embedA licensed loan officer can walk you through your own numbers, in English or Tiếng Việt.
Call 408-600-1900Who a foreign national loan is for
You live in Vietnam (or abroad) and want to buy a U.S. investment property
The typical starting point is a down payment wired from a verifiable bank account, two years of income documentation from your home country, and a valid passport. Whether you can close remotely depends on the arrangements described above.
You are on a work visa (H-1B, L-1, O-1, E-2) without a green card
Depending on your legal residency status, you may qualify for a conventional loan rather than a foreign national loan. FHA financing is not an option: under current HUD policy, FHA eligibility is limited to U.S. citizens and lawful permanent residents. If your visa situation is complex, Non-QM or DSCR products may still offer a path.
You have an ITIN and live in the United States
An ITIN (Individual Taxpayer Identification Number) (opens in a new tab) is an IRS tax processing number for people not eligible for an SSN. It is not work authorization, but it lets you build credit, file U.S. taxes and qualify for an ITIN loan, which typically needs two years of ITIN tax returns. It is a different product from a foreign national loan; if you’re not sure which you need, call us first.
You are a foreign investor buying a rental or vacation property
Investment property purchases are the most common use of foreign national loans. If the property earns rent, we may be able to qualify you on DSCR instead of personal income, which simplifies documentation considerably. Check a property’s ratio with the DSCR calculator.
Pros and cons
Pros
- No U.S. credit history required
- No SSN required; a passport is accepted
- The DSCR option removes the need for personal income documents
- Remote closing may be available via power of attorney or other approved methods, subject to approval
- Foreign income accepted from most countries
- Can purchase under an LLC in some cases
Cons
- A larger down payment is required
- Higher rates than conventional loans
- Investment or second home only in most cases
- Fewer lenders offer this product
- Reserve requirements are higher, often 6–12 months
- FIRPTA tax withholding applies on a future sale
Foreign national loan vs. DSCR loan vs. ITIN loan
| Foreign national loan | DSCR loan | ITIN loan | |
|---|---|---|---|
| Who it is for | Non-residents outside the U.S. | Investors qualifying on property cash flow | U.S. residents with an ITIN instead of an SSN |
| U.S. credit required | No | No | Yes (ITIN credit history) |
| Income documentation | Foreign income documents | Rent schedule or lease | Two years of U.S. ITIN tax returns |
| Occupancy | Investment or second home | Investment only (typically) | Primary, second home or investment |
| Remote closing | May be available, subject to approval | May be available, subject to approval | Typically not needed |
If you are unsure which product fits, the fastest path is a short call: a few questions usually show where you stand.
A note on FIRPTA and U.S. taxes for foreign property owners
Foreign owners of U.S. real estate are subject to U.S. tax law on rental income and on the sale of the property. FIRPTA (the Foreign Investment in Real Property Tax Act) requires buyers to withhold a portion of the sale price when a foreign national sells U.S. property; the current withholding rate is 15% of the gross sale price in most cases. See the IRS FIRPTA overview (opens in a new tab).
This page does not provide tax advice. FIRPTA rules depend on your country of residence, treaty status and property type. Before you purchase, consult a CPA or tax attorney familiar with FIRPTA and international real estate tax law.
This content is for educational purposes only and is not financial, tax or legal advice. Consult a tax professional familiar with FIRPTA and international real estate before you buy.
Wonder Rates compares Foreign National options across multiple wholesale lenders.