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Can I Get A Loan As A Foreign National?

Many mortgage lenders in the United States will lend to foreign nationals to purchase or refinance real estate in the country.

Foreign nationals are defined here as people who are not United States citizens or permanent resident aliens.

A foreign national mortgage applicant will need to prove that they are in the United States legitimately. This documentation will need to be provided to a mortgage lender to get a foreign national loan approved.

Types of Loans

Foreign nationals generally have access to the same types of mortgage loans as American citizens, including:

  • 30 year fixed loans
  • interest only loans
  • minimum payment option loans

Many lenders will not lend as much to a foreign national as they would to a citizen with the same loan profile. This is because of the added risk to the lender of lending to a non-citizen. The mortgages are often close to what an American citizen would get.

Lenders will often allow a borrow to purchase a property with as little as 10% down.

Lenders will often allow a borrower to refinance (no cashout) up to 90% of the property value. This type of refinance, where no cash is taken out, is a rate and term refinance that serves to lower the monthly payment.

Lenders will often lend up to 80% of the value of a property for a cashout refinance.

Property types that a foreign national may borrow on include single family residences, condominiums, and townhouses. You will need to check with a specific lender to see what guidelines they follow.