South Florida sells more real estate to international buyers than almost anywhere else in the country — and most of those buyers hit the same wall at a conventional bank: no U.S. credit history means no conventional loan, regardless of income or assets. A foreign national mortgage is built specifically to solve that problem.

What is a foreign national loan?

A foreign national program qualifies a borrower who is not a U.S. citizen or permanent resident, and who typically has little or no U.S. credit history. Instead of a U.S. credit score, the lender weighs factors like the size of the down payment, liquid reserves, foreign credit references, and the property itself.

No Social Security number is required to apply — a passport and, in many cases, an ITIN (Individual Taxpayer Identification Number) are sufficient to get started.

What international buyers typically need

  • A larger down payment. Foreign national programs generally require more down than a conventional U.S. loan — often in the 25–40% range, varying by lender and property type.
  • Reserves. Lenders commonly want to see several months to a year of mortgage payments in liquid reserves, sometimes held in a U.S. bank account.
  • A passport and visa (if applicable). Tourist visas, work visas, and visa-waiver entry are all commonly accepted, depending on the lender.
  • A foreign credit reference or bank statement history in place of a U.S. credit score.

Can a foreign national buy investment property?

Yes — and it's one of the most common uses of the program in Miami-Dade, Broward, and Palm Beach counties. Many international buyers purchasing condos or single-family rentals pair a foreign national program with DSCR-style qualification, meaning the property's rental income (not the buyer's foreign income documentation) drives the approval. That combination is often the fastest, most document-light path to closing for an international investor.

Condo purchases and association approval

Condo and condotel purchases are extremely common among foreign national buyers in South Florida, but it's worth knowing upfront: many lenders apply extra scrutiny to condo buildings (reviewing the association's budget, reserve funding, and litigation history), and some buildings carry restrictions on non-resident ownership. Checking a building's lending eligibility before you go under contract can save real time later in the process.

Typical documentation

  • Valid passport
  • Visa or entry stamp, if applicable
  • Proof of funds for down payment and reserves (bank statements, often with certified translation if from abroad)
  • ITIN application or existing ITIN, for programs that require one
  • A foreign credit reference letter from a bank in the borrower's home country, where available

Why work with a broker instead of a single bank

Most retail banks don't offer foreign national programs at all — they're a specialty product handled by a relatively small set of lenders, each with its own rules on minimum down payment, eligible visa types, and reserve requirements. A broker who works across multiple foreign national lenders can usually find a workable structure even when a buyer's first bank said no.

Getting started

The fastest way to find out what's possible is a short conversation about the purchase price, available down payment, and visa or residency status. From there, we can usually tell you which lenders fit and roughly what the down payment and reserve requirements will look like.