Question 1

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

Accepted Answer

Yes, many lenders allow remote closings through mobile notaries or US-based attorneys with power of attorney. Expect extra documentation verifying your identity and foreign address.

Question 2

Do I need US credit to qualify?

Accepted Answer

No US credit required. Lenders verify foreign bank statements and asset documentation instead. Some accept international credit reports from major countries.

Question 3

What interest rate should I expect compared to US citizens?

Accepted Answer

Rates run 1-2% higher than conventional loans. Current pricing sits around 8-9.5% depending on down payment size and property location. Rates vary by borrower profile and market conditions.

Question 4

Can I use this loan for investment property in Menlo Park?

Accepted Answer

Yes, most foreign national loans allow investment properties. Some lenders require slightly higher down payments for non-owner-occupied purchases, typically 35-40%.

Question 5

Which countries have the easiest approval process?

Accepted Answer

Canada, UK, and Western European nations typically see faster processing due to established banking verification systems. Asian countries may require additional documentation but still qualify regularly.

Question 6

Can I refinance a cash purchase with a foreign national loan?

Accepted Answer

Yes, cash-out refinances work well for foreign nationals. You must wait six months after purchase and can typically pull out equity while keeping 30-35% down payment equivalent.

Foreign National Loans in Menlo Park: Property Access Without US Citizenship