A Foreign National Loan is a mortgage option designed for eligible non-U.S. citizens who want to purchase or refinance real estate in the United States.
Foreign national mortgage requirements can vary by lender and loan program. Qualification may include a review of the borrower's identity and residency status, available funds, credit history or alternative credit references, and the property being financed.
Depending on the program, borrowers may also need to document income and/or assets, provide funds for a down payment and reserves, and meet specific property and loan requirements.
Because foreign national loan programs can differ significantly, we'll review your individual circumstances and available financing options before determining which program may be appropriate.
Yes. Foreign national mortgage programs may provide financing options for eligible non-U.S. citizens who want to purchase or refinance real estate in Michigan. Requirements vary by lender and loan program.
Not necessarily. Some foreign national loan programs are designed for borrowers who do not have a U.S. Social Security number. The identification and documentation required will depend on the specific loan program.
Foreign national financing may be available for eligible investment properties as well as certain other property types. Available options depend on the property, intended use, borrower qualifications, and loan program.
Documentation varies by program but may include identification, proof of residency status, verification of assets or income, information about the source of funds, and documentation related to the property being financed.
Down payment requirements vary by lender, loan program, property type, and borrower qualifications. We can review the available programs and help you understand the down payment and reserve requirements that may apply to your situation.
