Can a non-U.S. citizen get a home loan?

Lawful permanent or non-permanent residents can apply for loans just the same as citizens, no higher costs, fees, or interest rates required.

Still, several aspects (like down payment percentages) vary for non-citizens depending on lender and property type. Plus, you may need to put a little extra effort into getting the correct documentation. That includes:

Credit reports

A two-year credit history within the United States with a valid credit score is ideal. However, depending on the lender, you have options:

  • Assemble a credit report with three traditional credit trade lines or four non-traditional trade lines.
  • Use a credit history from a foreign independent credit reporting agency.
  • Use written verification from foreign creditors to establish a credit history.

A Passport. This is for identification purposes

An ITIN (Individual Tax Identification Number).

This is given to people who don’t have residency status, but work in the U.S. and pay taxes on earnings. ITIN borrowers need an employment history of at least two years and the lender must determine that the income will continue for at least three years.

Proof of assets

Normally, you must show that you’ve had assets for at least two months to count them as your own. However, many non-citizens have funds in foreign bank accounts. As long as you can document that the funds belong to you and can transfer them to a U.S. bank prior to closing, you can count those funds.

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