United States financing guideThe United States has no general ban on foreign buyers, and a mortgage is possible without a US credit score or Social Security number. The catch is that standard conforming loans are built for residents with US credit files, so non-residents are steered towards foreign-national and debt-service-coverage loans. These cost more and ask for a bigger deposit, but they work.
Two loan families, one realistic choice
Conventional agency loans assume a US credit history, US income documents and often a visa status. Most overseas buyers without that profile use non-QM products: either a foreign-national loan underwritten on your assets and income abroad, or a DSCR loan underwritten on the rent the property will earn.
The DSCR (debt service coverage ratio) compares expected rent with the monthly payment. A ratio of 1.0 means the rent covers the payment exactly. Lenders marketing to foreign investors say that a ratio below 1.0 can sometimes still be approved with a larger deposit. DSCR loans are for investment property, not homes you will live in.
| Loan type | Based on | Best for |
|---|---|---|
| Conventional / agency | US credit and income | Residents with US history |
| Foreign-national loan | Foreign income and assets | Second or vacation homes |
| DSCR loan | Rent versus payment | Investment property |
| Cash purchase | Funds only | Fastest, no lender conditions |
Deposit and pricing
Lenders focused on foreign nationals describe a minimum down payment of 25%, a maximum purchase loan-to-value of about 75% and six months of cash reserves, with no US credit score required. Putting down 30% generally secures better pricing. One such lender's August 2026 benchmark showed foreign-national DSCR rates around 7.00% against about 6.1% for domestic investors, a gap of roughly half a point or a little more; another quoted 6.9-7.1% for 20-25% down. These are marketing figures, so collect written quotes from several lenders.
Run your own affordability test with the mortgage calculator at the rate you are quoted, not the average you read about.
Documents lenders ask for
A passport and proof of funds do most of the work, but the details vary.
| Document | Purpose |
|---|---|
| Valid passport and visa or entry stamp | Identity |
| ITIN or foreign tax ID | Tax reporting where required |
| Bank statements, translated if needed | Reserves and source of funds |
| Lease or rent estimate (DSCR) | Coverage ratio |
| Entity papers if buying through an LLC | Many investors buy in a company |
| Appraisal and title commitment | Ordered by the lender |
Closing the deal
- Choose a state and market; closing practices and taxes differ widely.
- Get pre-qualified by a lender that lends to foreign nationals.
- Make an offer, which is accepted into a purchase contract with earnest money.
- Open escrow with a title or attorney firm, depending on the state.
- Order the appraisal, inspection and title search; arrange insurance.
- Wire the cash to close, sign, and record the deed and mortgage.
Thirty to sixty days is common. Compare property types on our US houses and apartments pages or look at land.
Tax points that affect the financing decision
Foreign owners of US rental property file US tax returns on rental income and may face withholding on sale under FIRPTA, which holds back a share of the sale price pending final tax. Estate tax can also reach non-residents' US assets above a low exemption, so ownership structure matters. A cross-border tax adviser is worth the fee before you borrow. For wider market context see the US market analysis and the United States overview.
Also weigh state and local costs. Property tax varies sharply between states and even counties, insurance can be a major line item in coastal or storm-exposed areas, and homeowners' association fees on condos add to the monthly outgoings that a DSCR lender will count against the rent. Build these into your yield calculation before you accept a loan quote, and ask the lender whether it requires escrow of taxes and insurance.
Other funding routes
- Cash, popular because it speeds closing and gets a better price in competitive markets.
- Home-country borrowing against existing property, if the rate beats foreign-national pricing.
- Seller financing on smaller properties, where the owner holds the note.
- Hard-money loans for short-term renovation projects, at high cost.
Last updated 8 October 2026
Frequently asked questions
Can I get a US mortgage without a Social Security number?
Yes, with lenders that offer foreign-national or DSCR loans. They typically accept an ITIN or other tax ID, and no US credit score is required by some of them.
How much do I need to put down?
Lenders marketing to foreign investors list a 25% minimum and a maximum 75% purchase loan-to-value. Thirty percent down often improves the rate.
Are foreign-national rates higher?
Usually by around half a point or more compared with comparable domestic investor loans, plus higher fees. Shop several lenders and compare the total cost.
What is a DSCR loan?
A loan underwritten on the rent the property will generate compared with the monthly payment, rather than your personal income. It is meant for rental property.
Can I buy a primary residence this way?
DSCR loans are for investment property. If you want to live in the home, a foreign-national or conventional loan may suit, depending on your visa and income.
Do foreign owners face extra taxes?
Possibly. Rental income is taxable, FIRPTA withholding applies on sale, and estate tax can reach non-residents. See a cross-border tax adviser.