Foreign National Mortgages

If you’re a foreign national in the United States, buying real estate can seem like a nearly impossible task. However, foreign national mortgages can make it easier for noncitizens to secure a mortgage and purchase a property. These types of mortgages allow you to pursue the American dream regardless of your citizenship status.

At Griffin Funding, we offer foreign national mortgages with competitive interest rates. Our skilled mortgage specialists can help you explore different foreign national loan programs and ultimately secure foreign national financing. Keep reading to learn more about the different types of foreign national mortgages and the requirements for securing one.

Can Foreign Nationals Get a Mortgage in the U.S.?

Yes, foreign nationals can get a mortgage in the United States. By applying for a foreign national loan from Griffin Funding, noncitizens living in the U.S. can get the funds they need to purchase a real estate.

What Is a Foreign National Loan Program?

A foreign national loan program is a type of non-qualified mortgage designed for non-residents in the United States who are looking to purchase a house, whether it be used as an investment property or homebase while visiting. This program is designed to help foreign nationals in the U.S. navigate the unique challenges they may face throughout the course of the homebuying process.

Foreign national mortgage  programs generally allow non-residents to secure a mortgage without a Social Security number, green card, or visa. Additionally, borrowers are not required to have a FICO score to provide proof of credit. Instead, borrowers may demonstrate creditworthiness through alternative means or submit a credit report from their country of origin.

Foreign national loans and ITIN loans are most commonly used when an individual borrower does not meet the requirements of permanent resident alien or non-permanent resident alien. These types of programs make it possible for non-citizens in the U.S. to purchase property, even if they lack documentation that’s traditionally required to secure a home loan.

Like all home loans, foreign national loans are granted based on the borrower’s creditworthiness, income stability, and ability to repay the loan, factoring in additional expenses, such as property taxes and homeowners insurance. However, unlike conventional loans, these loans may have more stringent requirements and require more extensive documentation.

Eligible Property Types for Foreign National Mortgages

Eligible property types for foreign national mortgages vary by lender. However, these loans are designed for non-citizens who wish to purchase a residential property and use it as a temporary home when visiting, a vacation home, or an investment property.

Non-citizens living permanently in the U.S., also known as permanent resident aliens (green card), can purchase primary residences, second homes, and investment properties with a permanent resident alien loan. Non-citizens living temporarily in the U.S., can qualify for a mortgage under the non-permanent resident alien or ITIN loan programs.  In addition, borrowers can purchase just about any type of residential property they’d like — from single-family homes to condos, townhouses, and multi-unit properties — as long as it meets their lender’s requirements.

What Are the Types of Foreign National Mortgages?

Griffin Funding offers a variety of loan options for foreign nationals through our non-QM loan programs. Some of our lending services that can benefit foreign nationals include:

  • Full Documentation
  • Debt service coverage ratio loans Service Coverage Ratio loans
  • Interest only loans

What Are the Types of ITIN Mortgages?

Griffin Funding offers a variety of loan options for non-U.S. citizens with an ITIN through our non-QM loan programs. Some of our lending services that can benefit foreign nationals include:

  • Full Documentation
  • Bank statement loans
  • Debt Service Coverage Ratio loans
  • Asset-based loans
  • Interest only loans

What Are the Types of Permanent Resident Alien Mortgages?

Griffin Funding offers a variety of loan options for non-U.S. citizens with a green card and Social Security number through our non-QM loan programs. Some of our lending services and green card mortgages that can benefit permanent resident aliens include:

  • Full Documentation
  • Bank statement loans
  • Debt Service Coverage Ratio loans
  • Asset-based loans
  • Interest only loans
  • Recent credit event loans

What Are the Types of Non-Permanent Resident Alien Mortgages?

Griffin Funding offers a variety of loan options for non-U.S. citizens with a visa and Social Security number through our non-QM loan programs. Some of our lending services that can benefit non-permanent resident aliens include:

  • Full Documentation
  • Bank statement loans
  • Debt Service Coverage Ratio loans
  • Asset-based loans
  • Interest only loans
  • Recent credit event loans

Highlights of a Foreign National Mortgage

A foreign national mortgage provides borrowers with a number of unique benefits. Some of the primary highlights to consider when it comes to foreign national loans include: 

  • Certain documentation isn’t required
  • Ability to finance second homes and investment properties
  • Secure loans up to $5 million 
  • Non-warrantable condos are eligible for financing 
  • Debt service coverage ratio loans available for investment properties
  • Unlimited cash out
  • No U.S. FICO required (must provide evidence of three active and open trade-lines with a two-year history)
  • As little as 20% down payment

Highlights of an ITIN Mortgage

An ITIN mortgage provides borrowers with a number of unique benefits. Some of the primary highlights to consider when it comes to foreign national loans include: 

  • A U.S. Social Security number isn’t required
  • Ability to finance primary residences, second homes, and investment properties
  • Secure loans up to $5 million 
  • Debt service coverage ratio loans available for investment properties
  • Unlimited cash out
  • U.S. credit report required with a minimum FICO of 620
  • As little as 20% down payment

Highlights of a Non-Permanent Resident Alien Mortgage

A non-permanent resident alien mortgage provides borrowers with a number of unique benefits. Non-permanent resident aliens are individuals who are authorized to live and work in the U.S. on a temporary basis. Some of the primary highlights to consider when it comes to non-permanent resident alien loans include: 

  • A U.S. Social Security number is required
  • Ability to finance primary residences, second homes, and investment properties
  • Secure loans up to $5 million 
  • Debt service coverage ratio loans available for investment properties
  • Unlimited cash out
  • U.S. credit report required with a minimum FICO of 620
  • As little as 10% down payment

The following visa classifications are allowed as non-permanent resident aliens:

  • E-1, E-2, E-3
  • G-1 through G-5
  • H-1B & C, H-2 through H-4
  • L-1B, L-2
  • NATO 1 through 6
  • O-1
  • R-1
  • TN-1 & 2 (NAFTA)

Requirements for a Foreign National Loan

Foreign national loans have several unique benefits that make securing funding easier for non-citizens attempting to purchase a home. While borrowers may not need a Social Security number, green card, or FICO score to get a loan, they do need to meet certain requirements. For instance, borrowers must generally provide the following documentation: 

  • Proof of income 
  • Visa or visa waiver
    • VISA Types Allowed: B-1, B-2, H-2, H-3, I, J-1, J-2, 0-2, P-1, P-2, TN NAFTA, Laser Visa
  • Proof of creditworthiness

Borrowers who don’t have qualifying credit and those without a Social Security number or Individual Tax Identification Number (ITIN) typically must provide three active and open trade-lines with at least two years of history. 

It must also be noted that if you don’t currently have a FICO score, you won’t be able to receive a loan if you have derogatory marks against your credit. Additionally, borrowers from OFAC sanctioned countries will not be able to qualify for foreign national loans. 

How to Apply for a Foreign National Loan

To apply for a foreign national mortgage, there are several steps you will need to complete. Here is a general overview of what the lending process looks like at Griffin Funding: 

  1. Discovery meeting: One of our mortgage strategists will meet with you to evaluate your financial situation and discuss the best loan options for you. 
  2. Loan application: Applications can be completed via phone or our online digital mortgage portal. 
  3. Lock in your rate: We will lock in an interest rate based on the terms in the loan application. 
  4. Application and disclosures: We will send you the initial application and any disclosures either online or via physical mail. 
  5. Supporting documentation: We will provide you with a checklist of any documentation you need to submit to us. 
  6. Loan process: At this stage, we process and underwrite your loan. 
  7. Appraisal and pest inspection: We will order an appraisal of your current or potential home and can assist you in finding a pest inspector. 
  8. Loan approval: After approving your loan, we will reach out if we need any more items or documents. 
  9. Final loan document signing: You will be able to review the terms of the loan and sign it in the presence of a notary. 
  10. Loan funding/recording: Refinance loans have a 3-day waiting period before being funded, while purchase loans do not. 

Our loan specialists will help guide you through the process.

Ready to apply for a loan? Contact us today.


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Choosing a Foreign National Mortgage Lender

If you’re considering applying for a foreign national mortgage, it’s important to choose your lender wisely. Here at Griffin Funding, we work closely with borrowers to help them choose the type of loan program to meet their needs and secure a competitive interest rate. Our straightforward lending process uses the latest technology to make sure everything is as quick and convenient as possible on your end. Additionally, our experienced mortgage specialists are always ready to answer your questions and guide you through the lending process. 

Griffin Funding offers a wide array of lending services, so you can find an option that meets your needs. Whether you’re in search of a non-QM mortgage or a traditional home loan, we can assist you in securing a mortgage that fits your particular situation. 

Where We Offer ITIN Loans

Griffin Funding offers ITIN loans in several states to help homebuyers find a home in their ideal location. Learn more about ITIN home loans in your desired state of residence: 

Our team can help you understand the requirements and specifications of ITIN loans in these regions. Reach out today to take the first step towards obtaining an ITIN foreign national loan

Apply for a Foreign National Loan Today

A foreign national loan can be a great option for non-citizens looking to purchase real estate in the U.S. Work with the mortgage specialists at Griffin Funding to secure the financing you need. To take the first steps toward securing a non-U.S. citizen mortgage loan, contact us today by calling (855) 394-8288. You can also complete an application online to quickly find out which lending programs you may qualify for.

Frequently Asked Questions: Foreign National Loans

What is an ITIN number? 

An Individual Taxpayer Identification Number (ITIN) is a number issued by the IRS for tax purposes. If you work and pay taxes in the United States but don’t have a Social Security number, you have an ITIN. These numbers are issued to individuals regardless of immigration status, whether they’re residents or non-residents of the U.S. 

Your ITIN can be used as an alternative to a Social Security number when taking out a mortgage loan if you opt to apply for an ITIN mortgage.  

What is an ITIN loan? 

ITIN mortgage loans are a type of home loan available to borrowers with an ITIN rather than a Social Security number. They’re designed to enable individuals to buy homes in the U.S., even though they don’t have traditional credit histories or SSNs, creating homeownership opportunities for immigrants and foreign nationals working and/or living in the U.S. 

To qualify for an ITIN loan, borrowers must demonstrate proof of employment or self-employment and show that they file tax returns using their ITIN. In addition, they’ll need to have a steady income and decent credit history. Since these types of borrowers might have limited traditional credit history, some lenders may accept proof of bill payments, such as timely rent and utility bill payments. Alternatively, you can also submit a credit report from your country of origin if you don’t have a FICO score or established credit history in the U.S. 

ITIN loans have different requirements compared to traditional home loans and other types of mortgages like VA loans.

What are the downsides of foreign national mortgages? 

Foreign national loans provide a path to homeownership for non-citizens of the U.S. However, there are a few downsides to non-U.S. citizen mortgage loans, such as higher interest rates, larger down payment requirements, stricter requirements, and limited availability over a traditional mortgage. 

Since these loans are considered higher risk for the lender, foreign national loans may carry higher interest rates. In addition, these loans may require a larger down payment to offset this risk, thus increasing the upfront cost of purchasing property. 

Lenders may also have more stringent lending requirements for foreign national loans, such as having a higher credit score to qualify. While lending criteria vary by lender, borrowers should determine a lender’s requirements before applying for a loan. 

Unfortunately, not all lenders offer foreign national loans, limiting your options and making it even more challenging to find the best rates. Luckily, Griffin Funding is able to offer non-U.S. citizen mortgage loans at competitive rates. 

How much is the down payment for an ITIN loan? 

Down payment requirements for ITIN mortgage loans vary by lender. However, typically these loans require a larger down payment than conventional loans. Borrowers should expect to put down at least 20% of the property’s purchase price, but some lenders may require more. 

Your exact down payment amount will depend on factors such as your credit history, income, market conditions, and the lender’s evaluation of your ability to repay the loan. 

What is the interest rate on a foreign national loan? 

Foreign national loans generally have higher interest rates than other loan types, but your actual interest rate can vary based on a number of factors, such as the lender’s guidelines, creditworthiness, income, down payment, and market conditions.