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Long Beach attracts significant international investment due to port access and proximity to Los Angeles. Foreign buyers target beachfront condos, downtown high-rises, and rental properties near the harbor.
Most foreign national buyers here want either vacation homes near the coast or rental income from Long Beach State student housing. Portfolio lenders dominate this space since Fannie and Freddie don't touch these loans.
You'll face higher rates and larger down payments than US citizens. Expect 30-40% down and rates 1-2% above conventional programs, but approval doesn't require US credit history or Social Security numbers.
Foreign National Loans in Long Beach
You need a valid passport and proof of income from your home country. Most lenders accept foreign tax returns, bank statements, or employment letters translated to English.
Credit requirements vary since US credit scores don't apply. Lenders review your international credit report or bank statements showing 12-24 months of reserves.
Down payment starts at 30% for primary residences and 35-40% for investment properties. Some lenders cap loan amounts at $2-3 million for Long Beach properties.
Local decision guide
Use this guide to connect foreign national loans eligibility, lender expectations, and local market factors before comparing payment options in Long Beach.
Long Beach attracts significant international investment due to port access and proximity to Los Angeles. Foreign buyers target beachfront condos, downtown high-rises, and rental properties near the harbor.
Most foreign national buyers here want either vacation homes near the coast or rental income from Long Beach State student housing. Portfolio lenders dominate this space since Fannie and Freddie don't touch these loans.
You'll face higher rates and larger down payments than US citizens. Expect 30-40% down and rates 1-2% above conventional programs, but approval doesn't require US credit history or Social Security numbers.
About 15-20 portfolio lenders write foreign national loans in California. Each has different country restrictions—some avoid certain regions due to fraud concerns or compliance issues.
Underwriting takes 45-60 days versus 30 for conventional loans. You'll need certified translations of documents and potentially a US-based attorney to handle closing.
Rate shopping matters here since spread between lenders runs 0.5-1%. One lender might quote 7.5% while another offers 6.75% for identical borrower profiles.
Chinese and Canadian buyers make up 60% of foreign national deals I see in Long Beach. Mexican nationals come third, often buying near the port for business access.
Don't wait until you're in escrow to explore financing. Foreign national loans need 2-3 weeks just to gather and translate documents before underwriting starts.
Some buyers form US LLCs thinking it helps. It doesn't—lenders still treat these as foreign national loans if ownership traces back to non-US citizens.
If you have an ITIN and US tax returns, ITIN loans offer better rates and lower down payments than foreign national programs. You'll save 0.5-1% on rate and reduce down payment to 20-25%.
Some foreign nationals qualify for asset depletion loans if they move significant liquid assets to US banks. This works when foreign income documentation proves difficult to translate or verify.
Investment property buyers should check DSCR loans if the Long Beach rental generates strong income. These ignore personal income entirely and focus on property cash flow instead.
Long Beach condo HOAs sometimes restrict foreign ownership or require board approval. Verify HOA rules before making offers—I've seen deals collapse at day 20 over this.
Properties near the port or in downtown high-rises attract foreign buyers willing to pay premium prices. Expect competition from other international investors in these pockets.
California requires additional disclosures for foreign buyers under FIRPTA tax withholding rules. Budget for a CPA familiar with foreign real estate transactions—this isn't DIY territory.
Yes, but you'll need a US-based attorney with power of attorney to handle closing. Some lenders require in-person signing, which limits your options.
Foreign national rates currently run 7-9% depending on down payment and property type. Rates vary by borrower profile and market conditions.
Most lenders require you to open a US bank account for down payment and reserves verification. This usually happens during the application process, not before.
Yes, but expect 40-45% down for 2-4 unit buildings. Single-family homes and condos typically require less down payment than multi-family properties.
Plan for 45-60 days from application to closing. Document translation and foreign income verification add 2-3 weeks versus domestic loans.
Not directly—US lenders can't access most foreign credit bureaus. They'll review bank statements and reserves instead of traditional credit scoring.