Question 1

Can I buy in Colfax on a tourist visa?

Accepted Answer

Some lenders allow it, but options are limited. Expect a higher down payment and fewer programs to choose from.

Question 2

Do I need a US bank account to qualify?

Accepted Answer

Most lenders require US-based reserves. A US bank account makes the documentation process significantly easier.

Question 3

Are foreign national loan rates higher than conventional?

Accepted Answer

Yes. These are non-QM products with more lender risk. Rates run noticeably above conventional benchmarks. Rates vary by borrower profile and market conditions.

Question 4

Can I rent out the Colfax property?

Accepted Answer

Yes, and if you plan to rent it, a DSCR loan might be a stronger fit. Qualification is based on rental income, not personal income.

Question 5

What documents do foreign national borrowers need?

Accepted Answer

Expect to provide a passport, visa, proof of foreign income, and 12+ months of verifiable asset reserves.

Foreign National Loans in Colfax, CA