Foreign National Mortgage Loans in San Luis Obispo County
U.S. vacation home or investment property for non-U.S. buyers.
Free review · No hard credit check · 40+ lenders
What is a foreign national loan?
A foreign national loan is a mortgage for a borrower who lives and works outside the United States and wants to buy a U.S. second home or investment property. It does not require a U.S. credit score. Instead, lenders review foreign income, assets, and — when available — a foreign credit report, and typically lend up to about 70% of the property's value.
At a glance
- Loan amounts
- Up to $5,000,000
- Typical max LTV
- 70% with an acceptable foreign credit report; 50% without one
- Credit
- No U.S. credit score required
- Occupancy
- Second home (resort area) or investment property
- Max DTI
- Typically 43%
- Cash-out
- Available on many programs, up to $5,000,000
Who Foreign National Loans Are Best For
If any of these describe you, this is worth a fifteen-minute conversation before you assume you can't qualify.
How Foreign National Loans Work in Practice
- 1
We confirm the borrower and property fit
We start with citizenship, the intended use of the property, and the price range. A second home generally needs to be in a resort or vacation area; a home in a metropolitan area is usually treated as an investment property.
- 2
We document income and assets in the U.S. format
This is a full-documentation loan. Wage earners provide pay stubs and a W-2 equivalent; self-employed borrowers provide foreign personal tax returns. CPA letters are generally not accepted, and income, asset, and housing-payment documents must be translated by a U.S.-based certified translation company.
- 3
We source funds and reserves
Funds for the down payment and closing costs must be moved to a U.S. account or wired directly to title before closing. Foreign assets used only for reserves typically do not need to be moved. Typical reserves are six months of payments on the subject property and six months on other properties owned in any country.
- 4
We get a taxpayer ID in place and close
At least one borrower generally needs a Social Security Number or an ITIN before closing, and every borrower needs a valid passport, visa, or ESTA allowing U.S. entry. A pre-approval letter can be shared with your CPA or attorney to speed that process up.
San Luis Obispo County scenarios this solves
Coastal vacation home near Pismo Beach or Morro Bay
A buyer based overseas wants a second home on the coast with no U.S. credit file. A foreign-national program lets foreign income, assets, and a foreign credit report carry the file.
Investment property near Cal Poly
A foreign investor buys a rental near campus. LLC titling is available on many investment programs.
Cash-out on an existing U.S. property
An owner who purchased with cash can often access equity with no title seasoning requirement on programs that allow foreign-national cash-out.
Non-warrantable condo or condotel purchase
Foreign-national programs can be paired with non-warrantable condo, condotel, and co-op financing when the building would otherwise be hard to finance.
Requirements at a Glance
| Requirement | Typical Standard |
|---|---|
| Max loan amount | Up to $5,000,000 |
| Max LTV | 70% with acceptable foreign credit report; 50% if none available |
| Reserves | 6 months PITI on subject property + 6 months on other properties owned |
| Documentation | Full doc; foreign tax returns or W-2 equivalent and pay stubs |
| Identification | Passport, visa, or ESTA; SSN or ITIN for one borrower before closing |
| Translations | U.S.-based certified translation of income, asset, and housing documents |
Ranges shown are typical, not guarantees. Every file is evaluated on its own merits and program guidelines change.
Advantages and trade-offs
Advantages
- No U.S. credit score required
- Foreign assets and foreign retirement funds can count toward the down payment and reserves
- Loans up to $5,000,000, including jumbo
- Gift funds are allowed on many programs
Trade-offs
- Lower maximum loan-to-value than a domestic purchase
- Full documentation with certified translations adds time
- Down payment funds must be moved into the U.S. before closing
Foreign national loan FAQs
Yes. Foreign nationals can finance a U.S. second home or investment property with a foreign national program. The loan is based on foreign income, assets, and a foreign credit report where one is available, not on a U.S. credit score.
Typically 30% down, because the maximum loan-to-value is generally 70% when an acceptable foreign credit report is available. If no foreign credit report is available, the maximum is generally 50%.
Generally at least one borrower needs an SSN or ITIN before closing. You can often start the pre-approval first and use the approval letter to help your CPA or attorney obtain an ITIN.
No. These programs are for second homes and investment properties. If you will live in the home full time on a work visa, a work visa program is a better fit.
On many programs, yes. Foreign assets, including foreign retirement funds, can be considered for the down payment and reserves, though funds needed to close must be moved to the U.S. before funding.
Who you're working with
Justin Stearns is an independent mortgage broker in San Luis Obispo, licensed in California and Colorado, with access to 40+ lenders. Conventional, FHA, VA, and jumbo loans are the core of the practice — creative products are the tools we reach for when the standard answer doesn't fit.
NMLS #258870 · JHS Lending Services, Inc. NMLS #1678642
Go deeper
Read the full breakdown — numbers, guidelines, and how this product compares with the alternatives.
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Find out if Foreign National Loans Fit Your File
Send your scenario and I'll tell you honestly whether this product helps — or whether a conventional loan is the better, cheaper answer.
Educational information only, not a commitment to lend or a guarantee of financing. Program guidelines, rates, and eligibility vary by lender and are subject to change. All loans subject to credit approval, appraisal, and underwriting.