Educational guide · Non-QM Program
What are Foreign National loans?
Foreign National loans are a program that allows non-US residents to buy property here — without an SSN, ITIN, or US credit history. Relevant to international investors and second-home buyers from anywhere in the world who want to own real estate in California.
Who qualifies
- Non-US citizens residing abroad
- International investors buying US real estate
- Second-home buyers from any country
- People on tourist visas or without a current US visa
Typical documentation
- Valid passport
- Bank reference letter from your home country
- Several months of foreign bank statements
- Employment or income letter (translated)
- Home-country credit report (if available)
What to know
Lenders view foreign nationals as higher risk because they are outside the country, so required down payments are typically higher than on conventional loans.
Foreign National program rates are typically higher than conventional loan rates.
Many foreign buyers form a US LLC for asset protection and simpler tax treatment.
Informational page. Specific characteristics vary by lender.
Related resources
Alternative for investors who prefer to qualify on the property’s rental income instead of foreign banking references.
Why the US protects private property rights and how Mexican and Latin American investors typically structure purchases via an LLC.
LLC formation in California and Wyoming — sister company. Common when closing Foreign National in an LLC.
If you already reside in the US with a valid visa or green card, an ITIN loan may fit better than Foreign National.