Question 1

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

Accepted Answer

Yes, but you'll need a US-based representative with power of attorney to handle closing. Remote online notarization isn't available for these loans in most cases.

Question 2

What countries do lenders typically exclude from foreign national programs?

Accepted Answer

Most lenders restrict sanctioned countries and high-risk jurisdictions. Canada, Mexico, China, and European nations have the fewest restrictions and best program options.

Question 3

Do I need to prove the source of my down payment funds?

Accepted Answer

Yes, lenders require 2-3 months of bank statements showing funds. Large deposits need explanation letters and documentation of where money originated.

Question 4

Can I use foreign rental income to qualify for a Merced investment property?

Accepted Answer

Some lenders allow foreign rental income with proper documentation and currency conversion. DSCR loans based on US rental income are simpler if the property generates sufficient rent.

Question 5

What happens if I default and return to my home country?

Accepted Answer

Lenders can foreclose on the US property but have limited ability to pursue assets in your home country. This risk is why down payments run higher than conventional loans.

Question 6

Are foreign national loan rates fixed or adjustable?

Accepted Answer

Both options exist, but adjustable rates are more common. Fixed-rate terms typically max out at 5-7 years compared to 30-year fixed conventional loans.

Foreign National Loans in Merced: Property Financing Without US Citizenship