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Gilroy sits at the southern edge of Santa Clara County. It attracts buyers from outside the US who want California real estate without the Bay Area price tag.
Foreign national loans are non-QM products. That means they don't follow standard Fannie Mae or Freddie Mac rules — lenders set their own guidelines.
25-30%
Min Down Payment
No
US Credit Required
12+ months typical
Cash Reserves
30-45 days
Est. Close Time
Non-QM / Portfolio
Loan Type
Foreign National Loans in Gilroy
You don't need a US credit history. Most lenders accept foreign credit reports or reference letters from your home country bank.
Down payments typically start at 25-30%. Lenders want more skin in the game when they can't verify US income or credit the usual way.
Most big retail banks don't touch foreign national loans. This is a wholesale and portfolio lender market — exactly where we operate.
We work with 200+ wholesale lenders. Several specialize in foreign national programs with competitive terms and faster closings than you'd expect.
The biggest deal-killer we see: buyers who wait too long to get their documents translated and certified. Start that process early.
Some lenders require a US bank account at closing. Open one before you start the loan process — not the week before you close.
ITIN loans are a close cousin. If you have an IRS tax ID and US income history, ITIN loans often get better rates than foreign national programs.
DSCR loans work well if you're buying Gilroy property as a rental. The loan qualifies on rental income — not your personal income at all.
Gilroy's tech-adjacent location draws buyers from India, China, and Mexico. Many have family ties to Silicon Valley but want more affordable housing.
Santa Clara County has strict property tax rules that apply equally to foreign and domestic buyers. Budget for that from day one.
Yes. Foreign national loans are designed for non-residents. You don't need to live here or have a US address.
No SSN required. Lenders use your passport and foreign financial documents to verify identity and creditworthiness.
Plan for 25-30% down. Some lenders go higher depending on your home country and documentation type.
Yes. Many foreign national buyers purchase as rentals. A DSCR loan may actually be a better fit in that case.
Expect 30-45 days if your documents are ready. Document delays are the most common reason closings take longer.
Yes, typically. The added lender risk means higher rates. Rates vary by borrower profile and market conditions.