Foreign Nationals Welcome

Mortgage and Lending with Family Home Loans 189203

Foreign Nationals Welcome

According to the National Association of REALTORS' 2011 Profile of International Home Buying Activity, the U.S. continues to remain a top destination for foreign buyers as international purchases surged by $16 billion this year.  Below is a cheat sheet of requirements for Foreign Nationals to qualify for a domestic loan.

Foreign National Checklist

Loan Amounts

  • Minimum loan amount in the South Florida market is $100,000
  • Some Lenders offer less than $100,000, but they will ask for one year of payments to be held in escrow
  • Minimum Purchase Price is about $155,000

Downpayment Requirements

  • Minimum Downpayment for Venezuelan or Russian buyers is 40% for single family residences and 50% for condos
  • Minimum Downpayment for any other country is 35% for single family residences and condos


  • Please check with us to verify that the lender will lend on the property
  • For new buildings, Lenders require 40% to 50% of units to be sold
  • For established buildings, we will need a condo questionnaire and the delinquency rate should be less than 10% (on average)

Loan Types

  • Loans are fixed for 3 or 5 years and then become adjustable
  • We have access to "Hard Money" loans for buyers that don't fit the traditional quidelines or for commercial properties. The minimum downpayment is 50% for these lenders.

Documentation with Minimum Downpayment

  • Letter from employer or CPA
  • Two Bank References from original country
  • Two Commercial References
  • Last two months bank statements
  • Passport and valid Visa

Documentation with a 50% Downpayment

  • Letter from employer or CPA
  • One Bank Reference from original country
  • Last two months bank statements
  • Passport and valid Visa


The loan process takes 3-4 weeks after we receive all original documents, the application, and any necessary translations.  Contact me to get your foreign national buyer pre-qualified for a loan.

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