Question 1

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

Accepted Answer

Yes, but you need a US-based representative with power of attorney for closing. Most lenders require this for remote signings.

Question 2

What interest rate should I expect as a foreign buyer?

Accepted Answer

Rates vary by borrower profile and market conditions. Expect 1-2% above conventional rates, depending on down payment and reserves.

Question 3

Do I need a visa to buy property in Hillsborough?

Accepted Answer

No visa required to purchase real estate. Foreign national loans are designed specifically for buyers without US residency status.

Question 4

How long does underwriting take for foreign income?

Accepted Answer

Plan for 45-60 days from application to closing. Document translation and foreign income verification add 2-3 weeks versus domestic loans.

Question 5

Can I use my home country credit report?

Accepted Answer

Some lenders accept foreign credit reports, but most don't require credit at all. They focus on reserves and down payment instead.

Question 6

What happens if my currency weakens during escrow?

Accepted Answer

You bear exchange rate risk on wire transfers. Lock your currency conversion when you sign the purchase contract to avoid surprises at closing.

Foreign National Loans for Hillsborough Real Estate