foreign national loan program

A Foreign National Loan Program is a special type of loan that helps noncitizens buy investment property in the United States. This loan has requirements (and interest rates) that slightly differ from standard Fannie Mae or FHA loans.

Both permanent and non-permanent resident aliens can obtain mortgages in America, pretty much like everyone else. They can even get FHA, Fannie Mae and Freddie Mac home loans with as little as three percent down. … Your mortgage application process will be very similar to that of US citizens

General Requirements

  • SSN or ITIN not required
  • Eligible visa types: B-1, B-2, H-2, H-3, I, J-1, O-2, P1, P2
  • Valid international passport

Credit Requirements

  • Standard: 3 trade lines reporting for ≥ 12 months; or 2 trade lines reporting for ≥ 24 months with activity in the past 12 months
  • Foreign Credit: 3 trade lines reporting for ≥ 24 months with activity in the past 12 months

Income and Asset Requirements

  • 2 months’ bank statements required
  • Closing funds must be in a U.S. account for a minimum of 30 days prior to closing
  • If the funds to be used for closing have been in a U.S. account for at least 60 days, no further action is required
  • If the funds to be used for closing have been deposited in the past 60 days, then proof that the funds originated from the borrower is required
  • Gift funds are not allowed