Financing a Miami Property as a Non-US Resident: Foreign National Mortgages Explained

One of the first questions I hear from international buyers is: “Can I even get a mortgage in the U.S. if I don’t live there?” The answer is yes. A specific category of lending, the foreign national mortgage, exists precisely for buyers who live abroad and don’t have a U.S. credit history, a Social Security number, or U.S. income documentation.

In this guide I’ll walk you through how non-resident financing generally works in Miami, what lenders tend to look for, and how you can get pre-approved from your home country. (If you’re new to the overall process, start with my complete guide to buying Miami real estate as a foreign national.)

What Is a Foreign National Mortgage?

A foreign national mortgage is a home loan designed for borrowers who are not U.S. citizens or residents and who typically do not have the documentation a conventional U.S. mortgage requires. Conventional loans generally assume a U.S. credit score, a Social Security number, and U.S. tax returns. Most international buyers have none of those, so lenders that specialize in foreign nationals use a different underwriting approach built around the assets, income, and creditworthiness you can document from abroad.

These loans are usually offered by specialized lenders, certain portfolio banks, and private lenders rather than government-backed programs. That’s an important distinction: foreign national loans generally sit outside the conventional and government-backed systems, which is why their terms differ.

Do You Even Need Financing? The Cash Question

Many international buyers in Miami pay all cash, and for good reason: it removes lender conditions, shortens the timeline, and strengthens your offer in a competitive market. If you have the liquidity, paying cash is often the simplest path, and you can always explore a cash-out refinance later if you want to free up capital.

That said, financing has its own logic. Borrowing in U.S. dollars can be a deliberate strategy: it lets you keep capital diversified, manage currency exposure, and preserve liquidity for other investments. Whether to finance or pay cash is a decision worth discussing alongside your tax and structuring plan, not in isolation.

What Lenders Look For

Because foreign-national underwriting can’t rely on a U.S. credit report, lenders tend to focus on other signals of stability and ability to repay:

• Down payment / equity. Usually the single most important factor. A larger down payment lowers the lender’s risk and generally improves your terms.
• Proof of funds and reserves. Lenders typically want to see that you have the down payment plus a cushion of reserves to cover payments.
• Income documentation from your home country. Pay stubs, employment letters, tax filings, or, if you’re self-employed or a business owner, company financials and accountant letters.
• International credit references. A letter from your bank, a credit reference, or a credit report from your home country can often substitute for a U.S. score.
• A U.S. bank account. Often required or strongly recommended to fund the loan and service payments. Opening one early helps avoid delays.

What Terms to Expect for Non-Residents

The exact terms depend on your profile, the lender, the property type, and market conditions. Here is the general shape of what to expect.

Down payment

Non-resident foreign nationals generally need to put down more than a U.S. resident buyer would. A larger down payment often helps you secure better terms overall.

Interest rate

Because lenders take on additional perceived risk and rely on alternative documentation, rates and terms for foreign-national mortgages are typically less favorable than for U.S. citizens and residents.

Loan structure

Foreign national loans come in different structures depending on the lender, so a broker can help match the right product to your goals.

A note on numbers: market conditions change constantly. Rather than rely on a figure in an article, ask me for a current quote from a lender active in the foreign-national space. I’ll connect you with brokers who price these loans regularly.

The Documentation Checklist

Requirements vary by lender, but as an international buyer you should generally be prepared to provide:

• A valid passport and, where applicable, visa.
• Proof of income (employment letter, pay stubs, or business/financial statements).
• Bank statements covering a recent period.
• A bank reference letter or international credit reference.
• Proof of funds for the down payment and closing costs.
• An ITIN in some cases (or you may apply for one in connection with the purchase).
• Documents may need to be translated into English and, in some cases, notarized or apostilled.

Gathering these early is often the difference between a smooth closing and a stressful one. I give every financing client a tailored checklist up front.

How to Get Pre-Approved From Abroad

You can usually complete most, and often all, of the pre-approval process remotely:

1. Connect with a foreign-national lender. I introduce you to brokers who specialize in non-resident loans, so you’re not explaining your situation from scratch.
2. Submit your documentation package. Income, assets, identification, and references.
3. Receive a pre-approval letter. This gives you a realistic sense of your budget and signals to sellers that you’re a serious, qualified buyer.
4. Shop with confidence. With pre-approval in hand, your offers carry more weight.

A pre-approval also surfaces any issues, such as missing documents, translation needs, or banking gaps, while there’s still time to fix them rather than during a live transaction.

Closing the Loan Remotely

Non-residents routinely close from abroad using a power of attorney, remote or mobile notarization, and international wire transfers for the down payment and closing funds. Plan extra time for wires and source-of-funds documentation, since banks scrutinize large international transfers, and getting your paperwork in order early helps prevent last-minute delays. My pillar guide covers the remote-closing mechanics in more detail.

Financing and Your Ownership Structure

How you finance is connected to how you hold title. If you plan to buy through an LLC, a corporation, or a trust, some lenders have specific requirements, or won’t lend to certain structures at all. This is why I coordinate financing, ownership structure, and tax planning together from the start. To understand the structuring side, read my guide on LLCs and ownership structures for foreign buyers.

This article is general information, not financial, legal, or tax advice. Loan availability and terms depend on the lender, your profile, and market conditions. I recommend confirming details with a licensed mortgage professional and, where relevant, my tax and legal partners. I’m always happy to connect you with trusted mortgage brokers who work with international buyers.

How I Can Help

Financing as a non-resident is entirely doable, but it goes far more smoothly with someone who does it regularly. I serve international buyers in English, French, and Spanish and connect you with mortgage brokers who specialize in foreign-national lending. I coordinate the financing alongside your structuring and tax strategy so the pieces fit together.

Ready to find out what you qualify for? Call or WhatsApp me at (786) 238-0927, or email julien@luxemiamirealty.com for a confidential consultation and a referral to a trusted foreign-national lender, in your language and on your timeline.

An Important Note

I am a licensed real estate agent, not a CPA, tax advisor, or attorney. Everything here is general information to help you understand how things work. It is not tax, legal, or financial advice, and it should not be relied on as such. Nothing on this page creates any liability for me or for Luxe Miami Realty. Tax and legal rules change, and every situation is different, so please confirm the details that apply to you with a qualified CPA and attorney before you act. I am glad to connect you with trusted professionals from my network who handle exactly this.