Question 1

Can I buy in Monterey with no US credit history?

Accepted Answer

Yes. Most foreign national programs don't require a US credit score. Lenders qualify you on assets, foreign income, or property cash flow instead.

Question 2

What visa types are accepted for these loans?

Accepted Answer

Many lenders accept B1, B2, E, H, L, and O visas. Requirements vary — some lenders also lend to buyers with no US visa at all.

Question 3

How much do I need to put down in Monterey?

Accepted Answer

Plan on at least 30% down. Some lenders require 35-40% depending on your documentation and the property type.

Question 4

Can I buy through a foreign LLC or trust?

Accepted Answer

Some lenders allow it, but expect additional review and documentation. Entity structure affects both underwriting and title — get legal advice early.

Question 5

Are foreign national mortgage rates higher than conventional rates?

Accepted Answer

Yes. These are non-QM loans and carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.

Question 6

Can I rent out the Monterey property I purchase?

Accepted Answer

Long-term rentals are generally fine. Short-term rentals depend on HOA rules and local ordinances — confirm before you buy.

Foreign National Loans in Monterey, CA