Foreign National Program

U.S. investment property financing options structured for non-U.S. borrowers and cross-border investment scenarios.

Program Overview

The Foreign National Program is designed for investors acquiring U.S. investment properties who may not have a traditional U.S. credit profile. Scenarios are evaluated through asset performance, leverage positioning, and documentation alignment appropriate for cross-border borrowers.

Many cross-border acquisitions utilize asset-based DSCR qualification as the primary structuring method.

Best Fit For

How It’s Structured

Final structure, if any, is determined through underwriting review and program guidelines.

Foreign National DSCR Financing: What to Expect

Foreign national financing helps investors who live outside the United States buy or refinance U.S. rental property. Because many of these borrowers have no U.S. credit history or U.S. tax returns, lenders lean on the property itself: its rent, its value and the borrower’s down payment and reserves. That is why most foreign national programs are built on DSCR (debt service coverage ratio) qualification rather than personal income.

Every lender sets its own guidelines, so the points below describe common patterns, not guaranteed terms. Your exact structure depends on the property, the market and your documentation.

Factors lenders commonly review

• Down payment: foreign national programs usually require more equity than domestic DSCR loans; down payments of 25% to 35% or more are common.
• Reserves: several months of mortgage payments held in a verifiable account, often a U.S. bank account.
• Identity and status: a valid passport and, depending on the lender, a visa or other entry documentation. Some lenders accept an ITIN; others do not require one.
• Credit: some lenders accept international credit references or bank letters in place of a U.S. credit score.
• Property cash flow: rent (from a lease or an appraiser’s market-rent estimate) compared with the full monthly payment.
• Ownership: many investors buy through a U.S. LLC for business-purpose ownership.

Frequently asked questions

Do I need a U.S. credit score?

Not always. Many foreign national programs accept alternative credit documentation, but requirements vary by lender.

Can I buy through an LLC?

Often, yes. Lenders typically ask for the entity documents and may require a personal guarantee.

How is the rent determined?

Lenders commonly use the existing lease or the appraiser’s market-rent schedule. You can test your numbers with our DSCR calculator.

Related resources: DSCR Loan Requirements • DSCR Loan Rates • Portfolio Loans • DSCR Calculator

Examples are hypothetical and for illustration only. They are not rate quotes, offers or commitments to lend. Terms, eligibility and timelines vary by lender and are subject to underwriting. Business-purpose financing only.