Question 1

Can I get a foreign national loan without visiting the United States?

Accepted Answer

Yes. Remote closings work through mobile notaries or power of attorney. You'll need U.S. bank accounts for down payment and reserves, but physical presence isn't required.

Question 2

What interest rates should I expect in Patterson?

Accepted Answer

Foreign national rates run 1.5-3% higher than conventional loans. Rates vary by down payment size and borrower profile. Expect 8-11% range as of February 2026.

Question 3

Do I need a Social Security Number for a foreign national loan?

Accepted Answer

No SSN required. Lenders assign an internal ID number for underwriting. You'll need U.S. tax ID only if generating rental income from the property.

Question 4

Can I use this loan to buy a business property in Patterson?

Accepted Answer

Foreign national loans fund residential property only. Commercial properties need different financing. Mixed-use properties might qualify if primarily residential.

Question 5

How do lenders verify my foreign income?

Accepted Answer

Most require translated bank statements showing 12-24 months of deposits. Some accept employment letters or foreign tax returns. Asset-only programs skip income verification entirely.

Question 6

What happens if I eventually get U.S. permanent residency?

Accepted Answer

You can refinance into conventional financing once you have a green card and U.S. credit history. This typically lowers your rate 1.5-2.5 percentage points.

Foreign National Loans in Patterson: Property Access Without U.S. Citizenship