Yes, you read that correctly. You don’t have to be a citizen to get a U.S. mortgage.

If you’re a permanent resident alien, you’ll need your green card and your social security number. Your mortgage application process will be very similar to that of U.S. citizens.

If you’re a non-permanent resident alien, you don’t have a green card, but you have a social security number or ITIN. You can finance a home if you produce a work permit (Employment Authorization Document) or special employer-sponsored visa. Lenders must verify that you’ll be able to live and work in the country for at least three years.

Non-U.S. citizens without lawful residency in the U.S. are not eligible for Fannie Mae, Freddie Mac, or FHA home loans. There are two sorts of non-citizen homebuyers in the United States — the resident who wants a primary residence and the non-resident who wants a vacation or investment property in the U.S. Each buyer may finance a property with a foreign national mortgage, but the loans are not alike.

Permanent resident aliens

Both permanent and non-permanent resident aliens can obtain mortgages in America, pretty much like everyone else. They can even get Fannie Mae and Freddie Mac home loans with as little as three percent down once they live in the U.S..

The documentation requirements depend on the borrower’s status.
If you’re a permanent resident alien, you’ll need your green card and your social security number. Your mortgage application process will be very similar to that of U.S. citizens.

Non-permanent resident aliens

Suppose you’re a non-permanent resident alien, meaning you don’t have a green card, but you have a social security number. In that case, you may be able to finance a property if you produce a work permit (Employment Authorization Document) or special employer-sponsored visa.

Lenders must verify that you’ll be able to live and work in the country for at least three years. If your permit is going to expire within a year, your lender must evaluate your likelihood of remaining in the country and decide accordingly.

Foreign national loans for non-residents

Before America Mortgages’ Foreign National Mortgage programs, it was a lot harder for borrowers outside the U.S. to finance second homes or investment properties in the U.S. These are riskier for lenders. Hence, they carry higher interest rates, often above 8%.

Borrowers also used to have to make much larger down payments — on average, 50 percent. However, that has all changed with America Mortgages’s specialized programs.

Two of the most popular programs;

– America Mortgages FNSTATED: This is a perfect program for borrowers that either can’t show the required income for various reasons such as self-employment, lumpy income, or just a privacy concern. This program doesn’t require any income verification, U.S. credit, or residency and has a high LTV of 70 percent.

– America Mortgages FNFull: This is a perfect program for a borrower to show their foreign tax returns and income statements just as a U.S. citizen would. Rates are on par with what a U.S. citizen would pay, and the LTV can go as high as 50 percent without reserves required.

America Mortgages is the ONLY Asia-based U.S.-focused Real Estate financing firm with offices in Singapore, Hong Kong, and Shanghai. The ability to open an application and close a loan without ever leaving Asia may be unique, but we do it every day.
Borderless mortgages. Easy.

What about U.S. credit scoring?

One challenge foreign borrowers face is the lack of credit history. It can take years to accumulate enough credit history to generate a good score. Or any score.

However, there is help for those with so-called “thin files” or No Credit. America Mortgages can accept either a bank reference letter or a foreign credit report instead of a standard U.S. credit report. This is a unique feature and sets America Mortgages apart from other U.S. based lenders and brokers.

What about U.S. Expats?

Are you a U.S. Expat, files U.S. Taxes but work for a foreign company and don’t receive a W2? Oh, boy! We’ve got a great program for you! Our America Mortgages Expat mortgage program is as easy as walking into your local bank in “Small Town, USA.” We look at your foreign income just as we would if it was paid in USD. Your W2 is offset with other documents, and your loan is processed just as it would if you were in the U.S. It’s that easy! Although it does require sufficient U.S. credit for these programs.

However, if U.S. credit isn’t an option because you’ve been abroad for many years … we have thought of that as well. We have programs for these borrowers as well.

America Mortgages welcomes everyone!

With over 40+ combined years of experience in U.S. mortgage banking and Asia private banking, America Mortgages knows the type of borrowers, their problems and hurdles, and how to resolve these issues in the same time zone, without the learning curve, U.S. based banks/brokers may have. America Mortgages welcomes anyone looking to invest or refinance U.S. Real Estate. We have programs for almost every type of borrower regardless of their passport.

For more information, please contact hello@americamortgages.com.

Schedule a call with our U.S. Mortgage Specialist.