Foreign National Loans for Second Homes & Investment Properties
If you have a dream of owning a vacation home or investment property in the United States but are not a U.S. Citizen, you can still buy a second home or investment property through our Foreign National Loan Program.
With this program, you can borrow any amount of money between one-hundred thousand dollars ($100k) and three million dollars ($3 MM) without having a U.S. Credit report. The only requirements of the program are a sizeable down payment on the property – a down payment of 50% without a U.S. Credit Report or of at least 40% with a US credit report – and principal, interest, tax, and insurance (PITI) reserves of at least 12 months for the subject property and 6 months for all other properties that are either inside or outside the US.
This program considers foreign assets as a means for down payment AND reserves, as well as any foreign retirement funds. While you will need to move funds for the closing into the United States prior to the funding date, all of your other assets can remain in your foreign accounts. Foreign assets used for reserves do not need to be moved to the U.S.
The Foreign National Loan Program can be used to purchase or invest in several property types, including:
For foreign investors unfamiliar with the area, but seeking properties in a certain major metro area in Texas, the Foreign National Loan Program offers an investing consultation service to find the ideal investment for you in size, location, and property type. Hurst Lending’s investment officers not only live and work throughout Texas, but are personally invested in residential, multi-family, and retail properties in most major metropolitan areas, such as Houston, Dallas, Austin, and Fort Worth. For an overview of the loan officers’ education and experience, click here to read more about Hurst Lending or contact a loan officer directly.