The Brazilian buyer’s path to a US mortgage is well-worn. Many Brazilian nationals have already navigated the ITIN application, the Citibank US account opening, and the credit establishment timeline through the Miami financial services ecosystem that specifically serves this community.
What’s required: valid B-1/B-2 visa (or E-3 if available for your profession), ITIN, 640+ US credit, and sufficient US-held assets.
What’s not required: Brazilian income documentation, Imposto de Renda (IR) tax return, CPF (used as identifier but not income documentation), Brazilian bank account statements (unless explaining wire source).
Brazilian Buyer? Your US Assets and Miami Citibank Account Qualify You.
B-1/B-2 accepted · ITIN accepted · Nova Credit available
Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Brazilian Buyer Profile: Who Purchases US Real Estate
São Paulo business executives:
São Paulo produces Brazil’s largest concentration of high-net-worth individuals. Business owners, corporate executives, and investors with US brokerage accounts at Citibank US, HSBC US, or BTG Pactual US (BTG’s US wealth management operations). US assets accumulated through international business relationships and currency diversification from Brazilian Real (BRL).
Rio de Janeiro professionals:
Entertainment industry (TV Globo, film production), media, real estate development. US assets often through Itaú BBA US or Citibank relationship.
Brazilian-American community:
Substantial Brazilian-American population in South Florida, Boston, and New York. Many have SSNs (US citizens or green card holders from prior immigration) and established US credit — qualifying for conventional programs or Non-QM with stronger documentation.
Investment buyers (no US residency):
Brazilian nationals purchasing Miami investment properties for rental income. DSCR program — no personal income documentation at all. Common structure: Brazilian national, Brickell or Sunny Isles DSCR investment condo. Property qualifies on Miami rental income.
Brazilian Banking → US Account: The Standard Path
Citibank: The most common pathway. Citibank Brasil (now Itaú-Citibank after the retail banking sale, but private banking remains Citibank) clients with US relationships can establish US accounts through the Citibank global platform. Citibank US Miami specifically has Brazilian-focused private banking programs.
Itaú BBA US: Itaú’s US wealth management arm serves Brazilian HNW clients who want US-managed assets. Itaú BBA Miami manages USD assets for Brazilian families.
BTG Pactual US: BTG Pactual’s US wealth management operations serve Brazilian institutional and HNW investors.
HSBC US: Through HSBC Brasil (formerly Banco HSBC Brasil) global relationship to HSBC US private banking.
The key: whichever Brazilian bank the buyer uses, they need a US-domiciled account under a US-regulated entity. The account number should begin with a US routing number (ABA routing number system). A Citibank Miami account qualifies. A Citibank Brasil account does not.
Nova Credit for Brazilian Buyers
Brazil is supported by Nova Credit through Serasa and SPC (credit bureau data). Brazilian nationals with established Serasa or SPC credit history can request a Nova Credit translation report.
What this means practically:
A Brazilian CPF holder with a clean Serasa credit score of 750+ (on Brazil’s 0–1000 scale) may receive a Nova Credit translation showing 650–680 US FICO equivalent.
Timeline for Nova Credit report: 4–8 weeks.
This can replace or supplement the 12–18 month US secured card path.
Limitations:
Not all lenders accept Nova Credit. Confirm with your Mbanc loan officer whether Nova Credit is accepted for your specific program before relying on this path.
Nova Credit quality varies. Some Brazilian credit files translate well; others with limited formal credit history in Brazil may not translate to a qualifying score.
The Brazilian Imposto de Renda: Not Required
Brazilian nationals purchasing US property are frequently concerned about whether their Brazilian tax returns (Declaração de Imposto de Renda Pessoa Física — DIRPF) will be required by US lenders. They will not be requested.
The asset utilization file contains:
US account statements (Citibank US, Itaú BBA US, HSBC US, BTG US).
US credit report.
Passport + B-1/B-2 visa.
ITIN confirmation.
Property documentation.
Not requested:
Brazilian DIRPF (tax return).
CPF income documentation.
Brazilian bank statements (unless explaining recent wire transfers).
Brazilian Nota Fiscal or income receipts.
Brazilian buyers who have navigated Brazilian tax reporting (which requires declaring foreign real estate above BRL 300,000 via “Bens e Direitos” declaration) should consult a Brazilian tax advisor on their Brazilian reporting obligations when purchasing US real estate — but this is entirely separate from the US mortgage documentation.
Brazilian Buyers in Miami: The Neighborhood Guide
Brickell: Miami’s financial district. High-rise luxury condos. $500K–$2.5M. HOA $600–$2,500+/month. Brazilian professionals and investment buyers. HOA significantly affects DSCR for investment — careful property selection required.
Coral Gables: Traditional residential. SFRs $850K–$3M+. Lower HOA than Brickell. Most transactions within FL $2M overlay.
Coconut Grove: Residential, near water. $900K–$4M. Growing Brazilian buyer presence.
Sunny Isles Beach: High-rise luxury oceanfront. Called “Little Russia” but Brazilian buyer community growing. $800K–$5M+ condos. HOA $1,000–$3,000/month affects DSCR.
Aventura: Northern Miami-Dade. Brazilian community. $400K–$1.8M condos. Lower prices than Brickell.
Key Biscayne: Island. $1.5M–$8M+. High-end. Most purchases require significant down to stay within $2M overlay.
Three Complete Brazilian Buyer Transactions
Transaction 1 — São Paulo executive, Coral Gables primary:
Citibank US: $2.8M. B-1/B-2. ITIN. Citi secured card 14 months: 678 FICO. FL $2M overlay. Net eligible: $2.278M ÷ 84 = $27,119/month. $1.85M Coral Gables. 80% LTV ($1.48M). PITIA: $11,300/month. DTI: 51.7%. Approved. Close: 31 days.
Transaction 2 — Rio investor, Brickell DSCR:
DSCR only — no primary residence. ITIN. 14 months Citi secured: 662 FICO. Brickell condo $685K: HOA $950/month kills DSCR. Pivoted to Sunny Isles SFR-style condo with minimal HOA ($350/month). $720K, $3,200/month rent. 70% LTV ($504K). PITIA: $4,520. DSCR: $3,200 ÷ $4,520 = 0.71. Below floor. Miami DSCR extremely challenging due to combined insurance + taxes + HOA.
Pivot: Colombian investor’s deal from earlier section — DSCR doesn’t work in Miami. Target Tennessee instead: $305K Murfreesboro SFR. DSCR 1.07. Completed successfully.
Transaction 3 — Brazilian family, Orlando vacation home:
B-1/B-2. Itaú BBA US: $1.4M. ITIN. HSBC US secured card 16 months: 672 FICO. Target: $680K Orlando area vacation home. FL $2M overlay: well within. 80% LTV ($544K). Net: $1.15M ÷ 84 = $13,690/month. PITIA: $4,200/month. DTI: 39.6%. Close: 28 days.
FIRPTA: The Brazilian Seller’s Main Tax Concern
When a Brazilian national sells US property, FIRPTA withholding applies:
Buyer withholds 15% of gross sale price.
Example: $900K sale price → $135,000 withholding.
Brazilian seller files for refund if actual capital gains tax is lower.
For long-held properties with minimal gain: actual tax may be zero. The withholding is refunded.
For properties with large gains: the 15% withholding is a pre-payment toward the actual tax.
A withholding certificate from the IRS (applied for before closing) can reduce or eliminate withholding. Brazilian buyers purchasing for investment should plan the exit strategy with a US tax advisor before purchasing.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Brazilian Buyer Summary
The Brazilian buyer’s path to a US mortgage is among the best-supported of any foreign national group in the Mbanc footprint:
Nova Credit: Serasa/SPC data supported — 4–8 weeks to qualifying US score vs 12–18 months for secured card.
Citibank global relationship: Citi Brasil → Citi US is the fastest banking transition path.
Miami infrastructure: Miami’s Brazilian financial services community (Itaú BBA US, BTG US, HSBC US Miami) provides specialized support.
B-1/B-2: Standard 10-year multiple entry visa — sufficient for any US real estate purchase.
The main caution: Miami condo DSCR is usually unviable (HOA kills it). Brazilian investors who want US investment income should target Tennessee or North Carolina rather than Miami condos for investment properties.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender | Asset utilization: eligible US-held liquid assets ÷ 84 = monthly qualifying income | DSCR: qualifying rent ÷ PITIA | Minimum 640 US credit score | Valid US visa required | ITIN accepted | No foreign income or tax return required | Programs and rates subject to change