Question 1

Can I buy in Newark on a tourist visa?

Accepted Answer

Some lenders allow B1/B2 visa holders to purchase. You'll need strong reserves and a larger down payment — typically 35% or more.

Question 2

Do I need a US bank account to qualify?

Accepted Answer

Not always. Foreign bank statements work, but they must be translated and certified. Some lenders require funds wired to a US account at closing.

Question 3

What credit score do foreign national loans require?

Accepted Answer

Most programs don't use US credit scoring. Lenders evaluate your foreign credit report or substitute it with asset documentation.

Question 4

How much do I need in reserves?

Accepted Answer

Most lenders want 12 months of mortgage payments in liquid reserves. Some require more depending on visa type and loan size.

Question 5

Can I rent the property out as a foreign national buyer?

Accepted Answer

Yes. Many foreign national buyers purchase as investment properties. A DSCR loan may actually work better if rental income covers the payment.

Foreign National Loans in Newark, CA