Can a Foreign National purchase property in the US?

Yes. AD Mortgage offers solutions for investment properties only, such as the DSCR Foreign National loan. Foreign Nationals can qualify with documentation for income generated in their country of residence or with the cash flow from the subject property.

Can borrowers use a Foreign National loan to buy a home?

A Foreign National loan is intended to be used to purchase homes as investments, not primary residences.

What if borrowers want to purchase a primary residence in the US?

They will need to be a US resident and obtain a regular mortgage.

Do applicants need a credit record in the US for a Foreign National loan?

No, borrowers do not need to have a US credit record in order to qualify for a Foreign National loan.

What documents does a borrower need to have ready for a Foreign National loan?

Borrowers should prepare a copy of their passport, a copy of their unexpired visa, a current credit report, proof of income for the prior 2 years and the current year, an accountant’s income letter for the prior 2 years and the current year if self-employed, and a copy of their purchase contract. These documents should be translated into English by a certified translator.

Are there restrictions on who cannot apply for a Foreign National loan?

Yes. Borrowers with diplomatic immunity or otherwise excluded from U.S. jurisdiction, residents of countries not permitted to transact business with U.S. companies, Irrevocable Trusts or Land Trusts, and borrowers under 18 years old are not eligible.

Can clients close quickly on the property they want with a Foreign National loan?

Yes, an experienced lender accustomed to working with Foreign National borrowers should be able to close this loan as quickly as a Conventional mortgage. Because some income and credit qualifications are comparatively easier, it may happen even faster.

How high will the interest rate in a Foreign National loan be?

Interest rates depend on a variety of factors, but Foreign National loan borrowers can expect to have an interest rate that is competitive with those offered to U.S. citizens.

Can I apply for a Foreign National DSCR loan if I don't have a visa?

No, the borrower must have an active visa as of the note date or be legally present in the U.S.

Foreign National DSCR

No Score or FICO 660 Up to 75% CLTV

AD Mortgage's Foreign National loan program helps non-residents purchase or refinance investment property in the US — including rental homes and short-term rentals. As a DSCR loan for foreign nationals, qualification is based on the property's cash flow: no US credit score, no US income documentation, and no tax returns required. With loan amounts up to $3 million, overseas assets allowed as reserves, and cash-out refinance options, it's one of the most flexible foreign national mortgages available to wholesale partners

Program features

Loan amounts up to $3 million
Overseas assets allowed as reserves
Cash-out allowed
One bank reference letter
Min reserves 12 months

Why choose our Foreign National DSCR?

DSCR < 1 requires min FICO 680 or no FICO
Gift funds allowed
RON closing

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Program details

Loan amounts up to $3 million

Cash-out allowed

DSCR < 1 requires min FICO 680 or no FICO

Up to 75% СLTV purchase / Up to 70% СLTV cash-out

For I/O, Min. FICO 680 or no FICO

First-time homebuyers allowed

Investment properties

Cash-in-hand: No limitation for CLTV <55% & min FICO 680; $1,000,000 for CLTV from 55% to 65% or CLTV>65 & min FICO 700 or CLTV <=55 & FICO <680; $500,000 for CLTV >65% & FICO <700

DSCR = Gross Income / Proposed PITIA. Borrower income is not required.

Any property within the past 36 months required

12 months of reserves required

Gift funds allowed (borrower contribution required — 10%) for down payment, closing cost, and reserves

Mortgage history: 0x30x12 and 0x90x24

48 months out of credit event

Eligible property types: SFR, townhomes, condo warrantable/non-warrantable (limited review), condotel, 2-4 units, PUD, SFR rural, short-term rentals, leasehold

Various fixed terms, 5/6 & 7/6 ARM terms

120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period

Eligible citizenship: Foreign National

Eligible borrowers: Individuals, LLCs/Corp without a hit

Fast turnaround times

As fast as

24 hr

Disclosure

As fast as

24 hr

Underwriting

As fast as

48 hr

Foreign National DSCR

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Program request

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Program details

Fast turnaround times

Disclosure

Underwriting

Closing

Foreign National Asset Utilization

Foreign National Full Doc