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Milpitas sits at the heart of Silicon Valley. That matters for foreign national buyers — this city draws global tech talent and international investors at a high rate.
Non-US citizens buying here face a specific challenge: most conventional loans require US credit history. Foreign national loans bypass that requirement entirely.
30% typical
Min Down Payment
12 months
Cash Reserves
No
US Credit Required
30-45 days
Est. Close Time
Foreign National Loans in Milpitas
You need a valid foreign passport and visa. Most lenders want to see a B-1, B-2, H-1B, or similar valid entry document.
Down payments typically start at 30%. Expect lenders to require 12 months of reserves in a US or verified foreign account. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect foreign national loans eligibility, lender expectations, and local market factors before comparing payment options in Milpitas.
Milpitas sits at the heart of Silicon Valley. That matters for foreign national buyers — this city draws global tech talent and international investors at a high rate.
Non-US citizens buying here face a specific challenge: most conventional loans require US credit history. Foreign national loans bypass that requirement entirely.
You need a valid foreign passport and visa. Most lenders want to see a B-1, B-2, H-1B, or similar valid entry document.
Most retail banks won't touch foreign national loans. These are non-QM products — they live in the wholesale and portfolio lender space.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in foreign national programs with competitive terms for Santa Clara County buyers.
The biggest deal-killer I see: buyers assume their home-country income docs translate directly. They don't. You need translated, notarized financials — and some lenders want a CPA review on top.
Wire transfers for down payment funds get scrutinized hard. Start sourcing and seasoning those funds early. Sixty days of documented history in a US account is the clean path.
If you have an ITIN, you may qualify for ITIN loans instead. Those carry lower down payment requirements — sometimes 10-15% — and better rates than foreign national programs.
DSCR loans are another angle if you're buying investment property. Qualification is based on rental income, not personal income. That sidesteps the foreign income documentation problem completely.
Milpitas is in Santa Clara County — one of the highest-cost markets in California. Foreign national loan limits vary by lender, but many cap at $2-3M. Know your ceiling before you shop.
HOA-heavy condo complexes near the Great Mall corridor are common here. Some lenders restrict foreign national loans on non-warrantable condos. Verify the condo's status early.
Some lenders allow foreign bank statements, but US accounts make approval smoother. Most require documented reserves regardless of where they're held.
B-1, B-2, H-1B, L-1, and similar visas are commonly accepted. Lenders vary — a broker can match you to the right program for your visa type.
Both options exist. ARMs are more common in foreign national programs. Rates vary by borrower profile and market conditions.
Yes. Investment purchases are actually common for foreign national buyers. DSCR loans are often a cleaner option for rental property purchases.
Expect 30-45 days minimum. Document translation and international wire verification often add time. Start preparation early.
Not always. Some lenders allow remote closings through a power of attorney. Confirm this with your lender before signing a purchase contract.