Think you can’t get U.S. commercial property financing without tax returns or a U.S. credit score? Think again.
Foreign nationals and expats are using a property-first approach that looks at the deal itself, not your personal paperwork. If your property performs, you can qualify even when traditional banks say no.
This shift has already opened the door to billions in global capital. Since 2010, international investors have accounted for nearly 12% of all U.S. commercial real estate activity. In 2021–2022 alone, foreign acquisitions topped $92B, with $27B in multifamily. Forecasts now project U.S. CRE investment could hit $500B by 2025, with Florida, Texas, and Georgia leading demand.
Why the U.S. Stands Apart
In many countries, property ownership is restricted or burdened by regulation. Financing is hard to access, and rights are uncertain, but not in the U.S.
The U.S. offers:
- Full ownership rights for foreign nationals and expats
- Structured financing programs designed specifically for international investors
- Dollar-backed wealth building in the world’s most liquid real estate market
Why Lenders Look at Property Performance
U.S. citizens must provide years of tax returns, detailed financials, strong credit, and at least 20% down. Foreign nationals usually cannot.
That is why lenders evaluate the property itself, focusing on:
- NOI (Net Operating Income): income after expenses
- DSCR (Debt Service Coverage Ratio): NOI ÷ debt payments, typically 1.25x minimum
- LTV (Loan-to-Value): capped at 65–70%, requiring 30–35% equity
If the numbers work, financing follows.
America Mortgages’ (AM) Loan Programs Spotlight
AM Standard Commercial Mortgage
- Term: 20–30 years
- Rates: ~7.5% to 10% (current U.S. environment)
- Structure: Non-recourse for foreign nationals and expats
- Best for: Long-term stabilized assets such as multifamily or NNN retail
AM Bridge Loan (Short-Term Commercial)
- Term: 12–36 months, usually interest-only
- Rates: ~9% to 13%
- Structure: Non-recourse
- Best for: Value-add, renovations, or repositioning before refinancing into permanent debt
Commercial Real Deals in Action (with Rates)
- Airbnb Units – Georgia: Standard commercial mortgage: 30-year non-recourse, fixed at 9.85%
- Commercial Buildings – Washington: Bridge loan at 10.99% interest-only, 6 months no payment, refinance in 2 years
- 322-Unit Multifamily – Indiana: Bridge loan: SOFR +2% (SOFR 4.14%), 3 years interest-only, refinance after stabilization
Understanding WSJP (Wall Street Journal Prime) & SOFR (Secured Overnight Financing Rate)
When you see U.S. loan terms quoted as “Prime +1%” or “SOFR +2%”:
- WSJP: Currently 7.25%, tied to the Fed’s funds rate, commonly used for shorter-term CRE lending. Margins of +0.25% to +1% are typical.
- SOFR: Currently 4.14%, based on overnight Treasury-backed borrowing. Used for large, longer-term CRE loans, with spreads added for risk.
Best to Worst Property Types for FN & Expat Financing.
- Multifamily (5+ units, stabilized)
- Industrial / Warehouse
- NNN Retail (credit tenants)
- Self-Storage
- Hospitality (select-service hotels)
- Office (Class A/B)
- Specialty or Single-Use
- Vacant Properties or Land
Bottom Line
Foreign nationals and expats can access the same commercial financing opportunities as U.S. investors when structured correctly. By focusing on property performance and using the right loan program, you can unlock strong returns in the U.S. market.
Ready to invest? Whether it is your first U.S. property or your next big acquisition, America Mortgages can secure financing tailored to your goals, even when traditional banks say no.
In-House Expertise You Can Trust
At America Mortgages, our commercial mortgage division is led by industry expert Charlene Trollip, whose deep experience and market knowledge set us apart. Whether you’re just starting to explore your financing options or are ready to move forward, Charlene is here to guide you every step of the way.
Have questions or are ready to discuss your commercial mortgage needs? Don’t hesitate to reach out to Charlene, Head of Commercial Lending, directly…you’re in excellent hands.
Get started today:
Charlene Trollip
Head of Commercial Lending
U.S.: +1 832 444 4871
