U.S. real estate continues to be a powerful draw for international buyers. With steady markets, strong rental demand, and real long-term growth potential, it’s no surprise that investors from around the world see it as a smart place to put their money.
Yet most brokers avoid Foreign National financing entirely, viewing it as too complex or too risky to pursue. That hesitation creates opportunity for brokers who understand how Foreign National lending actually works.
While these transactions require different documentation than traditional mortgages, the process is straightforward when you know what you’re doing. More importantly, Foreign National borrowers represent a lucrative market segment with significant purchasing power and limited broker competition.
We’ve built one of the most comprehensive Foreign National programs in the wholesale channel, and we’re here to help you navigate it confidently
Real-World Loan Scenario: LendSure Foreign National Loan for Non-Warrantable Condos
Who Are Foreign Nationals?
Foreign Nationals live and work outside the United States. They maintain their primary residence abroad and are not authorized for U.S. employment.
In short, Foreign Nationals aren’t able to buy U.S. homes to live in full-time, but they can invest here—and that opens the door to great opportunities. Many choose U.S. real estate as a smart, stable way to grow their wealth internationally.
According to the National Association of Realtors’ 2025 International Transactions report, international buyers purchased $56 billion in U.S. residential real estate from April 2024 to March 2025, with buyers from Canada, China, Mexico, and India leading the market.
What Foreign Nationals Can Finance:
- Second homes in vacation destinations
- Investment properties generating rental income
- Multi-unit residential properties (up to 4 units)
- Non-warrantable condos and condotels
What Foreign Nationals Cannot Finance:
- Primary residences (U.S. work authorization required)
This distinction matters enormously. Foreign Nationals aren’t moving to the United States—they’re investing in it. Your role as their broker centers on investment property acquisition and vacation home purchases, not primary residence financing.
Why Foreign National Lending Should Be Part of Your Business
Most brokers walk away from Foreign National opportunities without realizing what they’re leaving on the table. Here’s what you gain by adding this specialization:
Higher Transaction Values Foreign National buyers typically purchase properties at higher price points than average domestic buyers. According to NAR data, the median purchase price for international buyers is $494,400—significantly above the $408,500 median for all U.S. buyers.
Vacation homes in premium markets and multi-unit investment properties mean larger loans and better commissions per transaction.
Cash-Strong Buyers with Lower Fall-Through Rates Nearly half of Foreign National buyers pay all cash, and those who finance bring substantial down payments (typically 25-30%). These borrowers have already committed significant resources and rarely back out over financing concerns.
They’re serious investors making strategic portfolio decisions, not overleveraged buyers stretching to qualify.
Repeat Business and Built-In Referral Networks Foreign Nationals building U.S. rental portfolios don’t stop at one property. They return for second, third, and fourth acquisitions as they scale their investments.
They also travel in networks—business associates, family members, and friends from their home countries who share investment interests and strategies. One successful transaction often generates multiple referrals within international communities.
Less Rate-Sensitive Decision Making Unlike domestic homebuyers agonizing over every quarter-point rate change, Foreign National investors tend to focus more on portfolio diversification, currency hedging, and long-term appreciation. Rate fluctuations that scare away domestic buyers barely register for international investors thinking in terms of global capital allocation.
Three Qualification Pathways for Foreign Nationals
Traditional lenders struggle with Foreign National financing because they apply domestic underwriting standards to international borrowers. We’ve built pathways that actually work for people living and earning income abroad.
1. Full Documentation: CPA or Employer Letters
For Foreign Nationals with verifiable income in their home countries, we accept documentation from certified accountants or employers abroad.
For Self-Employed Borrowers: CPA letters from licensed accountants in the borrower’s home country document business income, ownership structure, and financial stability. This works beautifully for business owners, entrepreneurs, and professionals who maintain practices overseas.
For Employed Borrowers: Employer verification letters from international companies confirm employment status, income, position, and job stability. Many multinational corporations have HR departments experienced in providing these letters for various purposes.
Income Verification Periods:
- 1-year documentation accepted
- 2-year documentation preferred for stronger qualification
This pathway serves Foreign Nationals with straightforward income situations who prefer traditional documentation methods. The key difference from domestic lending: we accept and verify international sources rather than requiring U.S. employment or tax returns.
2. DSCR Investor Cash Flow Qualification
For investment properties, Foreign Nationals can qualify based solely on the property’s projected rental income versus mortgage obligations. The DSCR route does not require personal income documentation.
We calculate Debt Service Coverage Ratio by dividing the property’s monthly rental income by PITIA (Principal, Interest, Taxes, Insurance, Association dues). When the rental income covers or exceeds these costs, the property qualifies itself.
Program Features:
- DSCR ratios as low as 1.0x accepted
- No tax returns from any country
- No employment verification needed
- No personal income documentation required
- Loan amounts up to $2,000,000 for 1-4 units
- Multiple simultaneous loans available
- Up to 10 financed properties per investor
- Non-warrantable condos and condotels eligible
Why This Works for Foreign Nationals: DSCR qualification eliminates the complexity of verifying international income sources. The property’s cash flow carries the loan, making underwriting faster and more straightforward for both broker and borrower.
This approach particularly benefits investors building U.S. rental portfolios where each property stands on its own financial merit.
Learn more about our DSCR program
3. Bank Statement Qualification (Senior Management Approval Required)
For Foreign Nationals who prefer not to share CPA letters or whose income doesn’t easily document through traditional methods, bank statement qualification offers an alternative.
Borrowers provide 12 or 24 months of personal or business bank statements showing consistent cash flow. We analyze deposits, calculate average monthly income, and apply reasonable expense ratios to determine qualifying income.
Features:
- Personal or business accounts accepted
- Accounts from foreign banks acceptable
- Multiple business accounts can be combined
- Expense ratios as low as 10%
- Captures actual cash flow rather than tax-reported income
Approval Process: This pathway requires senior management review and approval. Submit scenarios through your Account Manager, who will coordinate with our leadership team for evaluation.
When This Works Best: Business owners with complex income structures, investors with multiple income streams, or borrowers who prefer not to obtain CPA letters find bank statement qualification particularly useful.
The Bottom Line on Foreign National Lending
Foreign National lending can feel intricate from the outside, but it doesn’t have to be intimidating. Over the years, we’ve built the expertise, the systems, and the support to make international investor financing feel less like a maze and more like a guided path for our wholesale partners.
We’ve already done the heavy lifting: refining underwriting methods, developing reliable documentation processes, and shaping qualification pathways that truly fit the needs of foreign buyers. Your role is the part that no system or checklist can replace—recognizing the opportunity, building the right referral relationships, and guiding Foreign National clients with the kind of insight and care that only a skilled broker can provide.
Ready to become a Foreign National lending partner? Contact LendSure to learn how our programs can help you serve international investors others turn away.
Frequently Asked Questions About Foreign National Lending
WEBINAR | Alternative Income Documentation: Smarter Lending for Self-Employed Borrowers
How do you verify income from another country?
For CPA and employer letters, we work with independent third-party verification services experienced in international documentation. For DSCR loans, we verify the property’s rental income potential through comparable market analysis.
Bank statement loans rely on account activity rather than employer verification.
What if documents are in a foreign language?
We work with certified translation services for documents provided in languages other than English. Our team has extensive experience navigating international documentation across multiple languages and countries.
Who is considered a “Foreign National” for these loans?
A Foreign National is someone who lives and works in a foreign country, maintains their primary residence abroad, and is not authorized to work in the United States.
Note: If the borrower is a U.S. citizen living abroad or a Permanent Resident Alien, they may fall under different “Hybrid” guidelines—contact your Account Executive for those specific scenarios.
Can a Foreign National buy a home to live in?
No. Foreign National loans are strictly for investment properties or second homes (vacation homes).
The borrower cannot use the home as a primary residence because they do not have U.S. work authorization.
What specific property types are eligible?
We offer financing for single-family homes and 2-4 unit residential properties, townhomes and PUDs, non-warrantable condos and condotels (a major niche for international buyers), and second homes in vacation markets.
Does the borrower need U.S. credit or a Social Security Number?
No. If the borrower does not have a U.S. SSN, we accept international credit reports and credit reference letters from their home country’s financial institutions.
How do you verify income without U.S. tax returns?
We offer three distinct qualification paths:
- DSCR (Investment Only): We look only at the property’s cash flow (rent vs. mortgage payment). No personal income verification is required.
- Full Documentation (Second Homes or Investment): We accept an employer letter (stating YTD and 2-year history) or a CPA letter (for self-employed borrowers) from their home country. Tip: If the employer can write the letter in English, it saves the borrower translation costs.
- Asset Qualifier: For high-net-worth individuals with large liquid assets but irregular income, we can use their assets to calculate a qualifying income (dividing assets by 60 or 120 months depending on the scenario).
What are the reserve requirements?
We typically require 12 months of reserves.
Crucial detail: These reserves can remain in the borrower’s foreign bank account. They do not need to be moved to the U.S. beforehand, provided we can verify the funds.
Where do the funds for the down payment and closing costs need to be?
Unlike reserves, the cash to close usually needs to be moved to a U.S.-domiciled bank account prior to closing.
Exception: In some cases, we can allow a direct wire from the foreign bank to the U.S. settlement agent (title company), provided the agent accepts international wires.
Can the borrower close in the name of an LLC?
Yes. Foreign investors often prefer Limited Liability Companies (LLCs).
We are very comfortable closing loans vested in a U.S. LLC.
Can Foreign Nationals purchase multiple investment properties?
Absolutely. We allow up to 10 financed properties per investor.
Many Foreign National clients build substantial U.S. rental portfolios over time, purchasing properties sequentially or even simultaneously.
Are there restrictions on property location?
No. Foreign National borrowers can purchase properties anywhere we lend within the United States.
Popular markets include Florida, California, Texas, Arizona, and Nevada, but we finance properties nationwide.
