Foreign nationals face the same mortgage documentation problem that US asset-rich retirees face — but more acutely. Their income is documented under foreign regulatory frameworks. Their credit exists in foreign scoring systems. Their financial history lives in foreign bank accounts. And yet many hold substantial US-domiciled assets — Fidelity accounts, Schwab brokerage accounts, HSBC US savings — that are entirely documentable under US standards.

The US mortgage system cannot process foreign income, foreign tax returns, or foreign credit histories. But it can process US-held assets with complete precision. A Brazilian executive’s $3.2M Fidelity account is as documentable as any US citizen’s.

Asset utilization: US-held liquid assets ÷ 84 = monthly qualifying income. No foreign income. No foreign tax return. What qualifies is what’s in the US account.

DSCR: The US investment property’s rental income qualifies the loan. The investor’s nationality, foreign income, and foreign assets are entirely irrelevant. What qualifies the investment property is US rent.

Two programs. Designed precisely for the documentation challenge foreign nationals face.

Mbanc NMLS #38232. Primary residence: 24 states. DSCR investment: 46 states.

US Assets. US Property. US Mortgage. No Foreign Documents.
Asset utilization · DSCR · ITIN accepted · 640 minimum US credit

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Key Questions

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Mbanc NMLS #38232 | Equal Housing Opportunity Lender

The Two Foreign National Programs at a Glance

Asset Utilization	DSCR Investment
Property type	Primary residence / second home	Investment property only
Qualifying factor	US-held assets ÷ 84	Property rental income ÷ PITIA
Foreign income needed?	No	No
Foreign tax return?	No	No
US credit score	640+ required	640+ (confirm with LO)
US visa required	Yes	Yes
ITIN acceptable?	Yes	Yes
Max LTV	85% (primary, 660+ credit)	80% (DSCR ≥ 1.00)
State availability	24 states	46 states
Max loan	$4M (state overlays apply)	$4M

Requirement 1: Valid US Visa

The most common qualifying visa types for US mortgage:

B-1/B-2 (Business visitor / tourist): Most common for buyers not residing in the US. Short-term travel visa. Valid for mortgage purposes.

H-1B (Specialty occupation worker): Tech professionals, engineers, scientists currently living in the US on employer sponsorship.

L-1 (Intracompany transferee): Multinational executives and managers transferred to US operations.

O-1 (Extraordinary ability): Artists, athletes, senior executives, researchers with demonstrated exceptional ability.

E-2 (Treaty investor): Investor visa for nationals of treaty countries who have made a substantial US investment. Particularly relevant for real estate investors.

EB-5 (Investor immigration): Requires $800,000–$1,050,000 US investment. Provides path to permanent residency.

Green card (Lawful permanent resident): Treated similarly to US citizen for mortgage qualification.

US citizens abroad: US citizens living and working outside the US who have foreign income but want US property. Qualify as US citizens — but foreign income documentation may still be unusable. Asset utilization can solve.

ESTA is NOT a visa. The Electronic System for Travel Authorization (visa waiver for short visits) does not qualify.

Requirement 2: ITIN or Social Security Number

Foreign nationals without a Social Security Number use an Individual Taxpayer Identification Number (ITIN) for US mortgage applications.

How to obtain an ITIN:
File IRS Form W-7 with: certified copy of foreign passport, copy of US visa, supporting documentation showing US tax connection.
Processing by mail: 7–11 weeks.
Through a Certified Acceptance Agent (CAA): 4–6 weeks. CAAs are authorized by IRS to verify original documents without mailing them.

Apply at least 4 months before your planned mortgage application.

An ITIN has no impact on immigration status. It is a tax filing and identification number only.

Requirement 3: 640+ US Credit Score — The Main Obstacle

This is the most common barrier for foreign national borrowers. The US FICO credit scoring system is built entirely from US credit account activity. Foreign credit histories from Brazil, the UK, Germany, Colombia, or any other country do not automatically transfer to the US FICO system.

The solution: Establish US credit accounts 12–18 months before applying.

Fastest path — secured credit card:
Open a secured credit card at a US bank where you already hold assets. Citibank, HSBC US, Bank of America, and Chase all have programs for existing account holders with foreign passport identification.
Security deposit: $1,000–$5,000 (returned when account is closed in good standing).
Usage: Charge $200–$400/month in routine purchases.
Payment: Pay the full statement balance before the due date every month.
Timeline: 640+ FICO typically achieved within 12–18 months.

Private bank path (faster for HNW borrowers):
Foreign nationals with $1M+ at a US private bank (UBS, JPMorgan Private Bank, Merrill Lynch Private Wealth, Citibank Private Client) may receive an unsecured credit card as part of the banking relationship — bypassing the secured card timeline. Ask your private banker directly.

Nova Credit (international credit reporting):
Nova Credit translates foreign credit reports from select countries (Mexico, UK, Canada, India, Brazil, Australia, Dominican Republic, Kenya, Nigeria, and others) into US-equivalent reports that some lenders accept. Confirm with your loan officer whether Nova Credit is accepted for your nationality and program.

Month-by-month FICO trajectory:
Month 3: 550–590 (insufficient history or new account)
Month 6: 580–640 (developing pattern)
Month 12: 640–680 (qualifying threshold typically reached)
Month 18: 660–710 (fully established)

What to avoid: Opening multiple US credit accounts quickly. Hard inquiries from each new account lower the score. One or two accounts, managed perfectly, produces better results than five accounts with variable activity.

Requirement 4: US-Domiciled Assets (Asset Utilization Only)

For asset utilization, assets must be held at US financial institutions in US dollars:

Eligible at 100%:
US bank checking and savings accounts (Chase, Bank of America, Citi, Wells Fargo, HSBC US)
US brokerage accounts (Schwab, Fidelity, Vanguard, Merrill Lynch, E*TRADE, TD Ameritrade/Schwab, UBS US)
US money market and CD accounts
US Treasury holdings (TreasuryDirect or held in US brokerage)

Eligible at 70%:
US-based IRA, Roth IRA, 401k (if foreign national has US retirement accounts from prior US employment)

Not eligible:
Foreign bank accounts — even USD-denominated accounts at a foreign branch of a US bank (Citibank Mexico, HSBC Brasil) do not qualify. The account must be at a US-domiciled institution
Foreign brokerage accounts
Real estate equity (any country)
Business ownership interests (any country)
Crypto assets (confirm with loan officer)

The key distinction: Where is the account held, not what currency it holds. A USD account at a Brazilian bank is a Brazilian account. A USD account at Schwab in the US is an eligible US account.

How to Transfer Assets to US Accounts Before Applying

For foreign nationals whose wealth is primarily outside the US, transferring sufficient assets to US-held accounts before applying is the critical preparation step.

Transfer timeline:
Assets should be in US accounts for at least 60 days before application (standard account seasoning). Larger wire transfers from foreign accounts will require source documentation — the lending institution of origin and the business reason for the transfer.

Wire transfer documentation:
A wire of $500,000+ from a foreign bank to a US brokerage will require explanation. Prepare documentation in advance: bank statement from the foreign account (showing the debit), confirmation of the funds being business proceeds, inheritance, investment sale, or other legitimate source.

FBAR and FinCEN compliance:
Foreign nationals holding US bank accounts exceeding $10,000 at any point during the year may have US FBAR (FinCEN Form 114) filing obligations. Consult your tax advisor before transferring funds.

Five Complete Foreign National Mortgage Examples

Example 1 — Brazilian executive, Miami FL (asset utilization primary):
Pharmaceutical executive. B-1/B-2 visa. ITIN. Citibank US secured card 14 months: 678 FICO. Schwab US brokerage: $2.8M.

Net eligible: $2.278M ÷ 84 = $27,119/month. Target: $1.85M Coral Gables. FL overlay: within $2M. 80% LTV ($1.48M). PITIA: $11,300/month. DTI: 51.7%. Approved. Close: 31 days. Brazilian accounts: never requested.

Example 2 — UK executive, Nashville + DSCR (dual track):
L-1 visa. UBS US: $1.95M + Roth IRA $185K × 70% = $129.5K. Total: $2.08M eligible. Net: $1.84M ÷ 84 = $21,905/month.

Primary: $780K Brentwood TN. 80% LTV ($624K). PITIA: $4,800/month. DTI: 21.9%.
DSCR investment: $305K Murfreesboro TN SFR. Rent $2,050. DSCR 1.05 at 70% LTV. UK income: zero involvement.

Example 3 — Colombian investor, DSCR only portfolio (no primary):
Three Florida DSCR investment properties. No personal income submitted. Colombian income and assets: never requested.
Nashville SFR $295K: DSCR 1.08. Jacksonville SFR $285K: DSCR 1.04. Murfreesboro TN SFR $310K: DSCR 1.06.
Three files. Zero personal income documentation.

Example 4 — UAE investor, asset utilization second home:
E-2 visa. Morgan Stanley US: $4.1M. FICO 694 (established through JP Morgan Private Bank relationship). Target: $1.8M Miami Beach second home. FL overlay: $2M. 80% LTV ($1.44M). Net eligible $3.7M ÷ 84 = $44,048/month. PITIA $11,100/month. DTI: 25.2%.

Example 5 — Canadian TN visa holder, Dallas primary:
TN visa (USMCA professional). Fidelity US: $1.45M. FICO 712 (3 years US banking). W-2 from US employer ($150K/year). Combined: W-2 $12,500 + assets $1.3M ÷ 84 $15,476 = $27,976/month. $880K Plano TX. 85% LTV ($748K). PITIA: $5,800/month. DTI: 26.8%.

FIRPTA and Foreign National Tax Obligations

Mbanc handles the financing. Legal and tax structure require qualified counsel.

FIRPTA (Foreign Investment in Real Property Tax Act): When a foreign national sells US real property, the buyer withholds 15% of the gross sale price as a deposit against potential US capital gains tax. This is the most significant tax consideration for foreign national sellers. A withholding certificate from the IRS can reduce or eliminate the withholding. Engage US tax counsel before purchasing.

Rental income tax: US-source rental income is subject to US federal income tax. Foreign nationals typically file Form 1040-NR. State income taxes vary.

Estate tax: US-sited property is subject to US estate tax for non-resident aliens on values above $60,000, potentially at rates up to 40%. Property held through an LLC or trust changes the analysis. Structure before purchasing with a US estate attorney.

These are structural matters for legal and tax professionals. Mbanc provides the mortgage.

Frequently Asked Questions

Can a foreign national with no US income get a US mortgage?

Yes — asset utilization uses US-held assets as qualifying income. DSCR uses property rental income. Neither requires personal US or foreign income.

Do foreign bank accounts count toward asset utilization?

No. Only US-domiciled accounts at US financial institutions qualify. Transfer funds to US accounts before applying.

What visa do I need to get a US mortgage?

B-1/B-2, H-1B, L-1, O-1, E-2, EB-5, green card, and others qualify. ESTA visa waiver does not qualify. Confirm your visa type with your loan officer.

How long does it take to establish a US credit score?

12–18 months with a secured credit card and consistent payment history. HNW borrowers with private banking relationships may qualify faster through unsecured cards.

Can I use an ITIN instead of a Social Security Number?

Yes. ITIN is accepted for all Non-QM programs. Obtain it via IRS Form W-7 — allow 4 months lead time.

What states can a foreign national purchase in?

Primary residence: 24 states. DSCR investment: 46 states. Confirm specific state availability with your loan officer.

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Last reviewed: July 9, 2026 by Aiden Marsh. For current rates, programs, or guideline questions, request a Clear Approval.

Foreign National Mortgage USA: The Complete Guide