Foreign National Mortgage Loans in California

Who is a foreign national borrower?

Lenders generally use “foreign national” for someone who is not a U.S. citizen or permanent resident and usually lives outside the United States — for example, an overseas buyer purchasing a vacation home in Irvine, a home near a child's university in California, or a rental property.

If you live in the U.S. on a visa, programs for non-permanent residents may fit better. If you are a U.S. resident who files taxes with an Individual Taxpayer Identification Number (ITIN), ITIN loan programs are another option. We will help you figure out which category applies before you shop.

How foreign national loans usually work

• Credit: international credit reports, bank reference letters or other alternative credit instead of a U.S. credit score.
• Income: documented foreign income on some programs; for rentals, many lenders qualify the loan on the property's rent instead (see DSCR loans).
• Funds: the down payment and closing costs usually need to be in a U.S. bank account before closing, with records showing where the money came from.
• Down payment and reserves: expect a larger down payment than a typical U.S. borrower and some reserves after closing.
• Property: single-family homes, condos, townhomes and 2–4 unit properties; purchase and refinance, with cash-out on some programs.

Plan your funds transfer early

The most common delay for international buyers is money movement. Start transfers early, keep every wire confirmation and statement, and avoid moving funds through third parties. Some countries limit how much currency individuals can send abroad each year, so plan the timing well before your purchase. Lenders will ask you to document the source of the funds, so a clean paper trail matters.

Documents to prepare

• Valid passport (and visa, if your program requires one)
• Proof of your foreign address
• Bank statements from your home-country and U.S. accounts
• Records of the source of your down payment funds
• Income documents or, for a rental, the expected rent
• The purchase contract, once you are in escrow

Documents in other languages may need certified translation. Buying or owning U.S. property can also have tax consequences — for example when you rent it out or sell it later — so we recommend speaking with a tax professional familiar with international buyers.

How Treasure Mortgage helps

We explain each step of the U.S. home-buying process in Mandarin or English, compare foreign national and ITIN programs from more than 100 lenders, and coordinate with your real estate agent, escrow and title company. Many documents can be signed electronically, which makes closing from overseas more manageable. Our office is in Irvine, and we help buyers throughout California.