Question 1

Can I get a foreign national loan without visiting the US?

Accepted Answer

Yes. You can close through a US-based attorney using power of attorney. Some lenders require notarized documents from your home country's US embassy.

Question 2

Do I need a US bank account for a foreign national loan?

Accepted Answer

Most lenders require one opened before closing. It simplifies wire transfers and shows you're serious about the purchase. You can typically open it remotely.

Question 3

What down payment do foreign national buyers need in Commerce?

Accepted Answer

Expect 30-40% down for most programs. Properties under $500k sometimes qualify at 25% down if rental income is strong.

Question 4

Can I use foreign national financing for a Commerce primary residence?

Accepted Answer

Rarely. Most programs require investment properties only. If you have a work visa, you'd use a different loan type entirely.

Question 5

How long does foreign national loan approval take?

Accepted Answer

Plan for 45-60 days. International document verification takes longer than domestic loans. Start gathering bank statements and income proof early.

Foreign National Loans in Commerce: Finance US Property Without a Visa or SSN