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King City sits in Monterey County's agricultural heartland, where international investors and business owners often seek property. Foreign national loans let non-US citizens buy homes here without visas or permanent residency.
These loans are strictly non-QM products. You won't find them through traditional Fannie Mae or Freddie Mac channels. Most foreign national borrowers in King City use these loans for investment properties or second homes.
Foreign National Loans in King City
Lenders typically require 30-40% down for foreign national loans. Credit requirements vary because US credit doesn't apply. Most lenders evaluate foreign credit reports or rely on alternative documentation like bank statements.
You'll need a valid passport and proof of income from your home country. Some lenders accept international bank statements showing consistent deposits. Expect higher rates than conventional loans, usually 1-2% above standard mortgage rates.
Local decision guide
Use this guide to connect foreign national loans eligibility, lender expectations, and local market factors before comparing payment options in King City.
King City sits in Monterey County's agricultural heartland, where international investors and business owners often seek property. Foreign national loans let non-US citizens buy homes here without visas or permanent residency.
These loans are strictly non-QM products. You won't find them through traditional Fannie Mae or Freddie Mac channels. Most foreign national borrowers in King City use these loans for investment properties or second homes.
Lenders typically require 30-40% down for foreign national loans. Credit requirements vary because US credit doesn't apply. Most lenders evaluate foreign credit reports or rely on alternative documentation like bank statements.
Only specialized non-QM lenders offer foreign national programs. Our network includes about 15-20 wholesale lenders who actively fund these deals. Each has different requirements for down payment, property types, and borrower citizenship.
Some lenders accept any foreign passport. Others restrict certain countries. A few now accept crypto assets as reserves, opening doors for international tech professionals. We shop across all options to find which lender fits your profile.
Most foreign national buyers in King City are purchasing farmland, commercial property, or residential rentals. If you're buying a primary residence as a foreign national, expect more scrutiny and potentially higher down payment requirements.
Documentation takes longer on these deals. Plan for 45-60 day closings instead of the standard 30. International wire transfers add complexity. Work with a title company experienced in foreign transactions to avoid delays.
ITIN loans work if you have US tax history but lack citizenship. Foreign national loans don't require any US financial footprint. If you're considering both, the ITIN route usually offers better rates.
DSCR loans are another option for foreign investors buying rental property. DSCR doesn't verify income at all, just rental cash flow. If the property generates strong rent, DSCR might beat foreign national pricing by 0.5-1%.
King City's affordable pricing attracts foreign investors who find coastal Monterey County too expensive. Agricultural properties here require specialized lenders who understand farm valuations and income projections.
Monterey County property taxes run about 1% annually. As a foreign owner, you'll pay the same rate as US citizens. Some lenders require six months of reserves for rural King City properties due to longer selling timelines if foreclosure becomes necessary.
Yes, most lenders allow fully remote closings through power of attorney. You'll need a US-based attorney or representative to sign on your behalf.
Foreign national rates currently range from 7.5-9.5% depending on down payment and property type. Rates vary by borrower profile and market conditions.
Not during the application process. However, you'll need one to receive rental income and pay the mortgage. Most lenders require this set up before closing.
Some lenders now accept verified crypto holdings as reserves. You'll still need to liquidate assets for the actual down payment, typically through wire transfer.
You can refinance into a conventional loan once you have permanent residency. This usually drops your rate by 1-2% and eliminates the foreign national premium.