Foreign National Loan
Real estate · Reinvent NY glossary
A Foreign National Loan is a mortgage product specifically designed for non-US citizens and non-permanent residents who lack a US credit history. These loans typically require a larger down payment (30-50% of purchase price), carry higher interest rates (1-2% above conventional rates), and may have shorter terms. Lenders evaluate the borrower's foreign income, assets, and creditworthiness in their home country. Available from select US banks including HSBC, Citibank, and specialized lenders. For a $1M property, expect to put down $300,000-$500,000 with rates around 7-8%.
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