A foreign national mortgage is a U.S. loan for a non-resident with no Social Security number and no domestic credit. Florida — with no state income tax and the deepest international buyer pool in the country — is where this product is most used.
How a foreign national mortgage works
The lender underwrites the property and your global financial profile, not a U.S. credit score. Plan on roughly 30%–40% down, a rate a little above the resident rate, and a few months of reserves. It works statewide — Miami, Orlando, Tampa, Naples — for a primary home, a second home or an investment. A common play is to buy in cash, then refinance into a foreign national loan to recover capital while keeping the asset.
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View properties →Why Florida specifically
Florida combines no state income tax, sustained population growth and a property market that lenders know how to underwrite for non-residents. That depth means more lenders compete for foreign national loans here than almost anywhere else in the U.S., which works in the borrower's favor on terms. The asset still has to make sense on its own numbers — financing improves returns, it doesn't fix a bad purchase.
What the lender will ask for
A clean file moves fast: a passport, proof of income or assets from your home country (often an accountant's or banker's letter), bank statements, and a documented source of funds for the down payment. A reference letter from your home bank usually stands in for the U.S. credit history you don't have. It can all be assembled from abroad.
Structure: financing through an LLC
Many non-resident buyers take title in a Florida LLC for liability and estate-tax planning and finance it the same way; lenders will lend to a single-member LLC with a personal guaranty. Whether it's worth the cost depends on the amount and your estate — settle it with your accountant before you make an offer.
