Yes, a foreigner can get a mortgage in Florida without being a resident or citizen. With a passport and proof of funds or rental income, foreign national and DSCR programs finance up to 70-75% of the property’s value (25-30% down payment), with rates starting around 7% in 2026 and terms of 15 to 30 years. A DSCR loan lets you qualify based on the property’s rental income, without showing U.S. income.
Buying a property in the United States is more accessible than many foreign investors imagine. Contrary to popular belief, you don’t need to be a U.S. resident or citizen to get a mortgage loan in Florida. There are programs designed specifically for international investors that let you finance part of the purchase, optimize liquidity, and grow your real estate portfolio.
In this guide, put together with the Florida HomeGroup Realty team, we explain how mortgage financing works in Florida for foreigners: the available products, requirements, conditions updated for 2026, and practical tips for getting approved without complications.
If you’re looking for the full buying process first, check out our guide to buying a house in Florida as a foreigner.
1. What is a foreign national mortgage?
A Foreign National Mortgage is a mortgage loan offered by U.S. banks to people who don’t live or work in the U.S. but want to invest in real estate within the country.
These mortgages typically finance between 70% and 75% of the property’s value, while the investor contributes the rest (25-30%) as a down payment. The loan is secured by the property itself and repaid in U.S. dollars.
2. DSCR loans: the most accessible option for non-residents
The most accessible product for non-residents is the DSCR loan (Debt Service Coverage Ratio). Unlike a traditional foreign national mortgage, this loan qualifies based on the property’s rental income, not your personal income, employment, or U.S. tax returns.
The bank evaluates the property’s DSCR, calculated by dividing the expected monthly rent by the total monthly loan payment (PITIA: principal, interest, taxes, insurance, and HOA dues). Lenders typically require a DSCR of at least 1.0, though some accept as low as 0.75 with a larger down payment.
This product is especially useful if you can’t or would rather not show income proof or tax returns from your home country.
3. Loan type comparison
| Type | How it qualifies | 2026 down payment | Best for |
|---|---|---|---|
| Foreign National (bank) | International income + reserves | 25-30% | Profile with provable income |
| DSCR | Property’s rental income | 25-30% (35-40% if DSCR below 1) | Rental investment without showing a W-2 |
| Private lender | Flexible, lighter paperwork | 30-40% | Speed, atypical cases |
| Developer financing | Internal plan in pre-construction | Varies by project | Pre-construction in installments |
4. Benefits of financing for foreigners
- Smart leverage: you can invest in more than one property without depleting your capital.
- Liquidity protection: you keep part of your capital available for new opportunities.
- Access to competitive rates: comparable to those offered to residents, adjusted for risk.
- Ability to build U.S. credit history.
- A secure, dollar-denominated investment, with tangible assets in a stable market.
Florida HomeGroup Realty works directly with financial institutions that offer specialized products for international investors, simplifying the process from your home country.
5. General requirements to apply for a mortgage as a foreigner
Requirements vary by bank, but most ask for:
| Requirement | Description |
|---|---|
| Valid passport | Primary identification for the applicant. |
| Proof of income | Financial statements, tax returns, or an accountant’s letter. |
| Bank statements | Usually from the last 3 to 6 months. |
| International credit history | Not mandatory, but favorable. |
| Down payment | Between 25% and 40% of the purchase price, depending on the product. |
| Purchase agreement | Document demonstrating genuine interest in the property. |
For the full list of documents backing each requirement, check out our mortgage documents guide. Florida HomeGroup Realty coordinates document collection with the bank and mortgage broker, speeding up approval.
6. Typical mortgage loan conditions (2026 data)
| Item | 2026 value (updated) |
|---|---|
| Foreign national / DSCR rate | From ~7% annually (par, Jun-2026); residents ~6.1%. Varies by LTV, reserves, property type, and profile. |
| Maximum financing (LTV) | Up to 70-75% of value |
| Down payment | 25-30% standard; 35-40% if rental cash flow is tight (DSCR below 1) |
| Term | 15 to 30 years |
| Reserves | 6-12 months of payments |
| Closing costs | 2-5% of the price |
| Prepayment penalty | With some banks, the first 3-5 years |
Data as of mid-2026, subject to change.
Example: if you buy a $400,000 property and put down 30% ($120,000), the bank finances 70% ($280,000). At a 7.5% rate over 30 years, the approximate monthly payment would be $1,955, not including taxes or insurance.
7. Closing costs
Beyond the down payment, budget between 2% and 5% of the purchase price for closing costs: title insurance, property appraisal, lender origination fee, and recording taxes. These costs are paid separately from the down payment and often catch buyers off guard if not budgeted from the start.
8. Required reserves
Most lenders require reserves, meaning provable liquid funds equal to 6-12 months of mortgage payments (including principal, interest, taxes, and insurance). These reserves must be available and documented at closing, regardless of the down payment.
9. The process, step by step, and timing
- Pre-approval: the lender evaluates your profile or the property’s rental income (depending on the product).
- Documents: you gather your passport, income or rental proof, and bank statements.
- Appraisal: the bank orders an independent appraisal of the property.
- Underwriting: the lender reviews the complete file before final approval.
- Closing: you sign the documents and financing is released.
The full process typically takes 30 to 45 days. With a well-prepared file from the start, it’s possible to bring that down to 30 days.
10. Documentation by country of origin
Depending on your country, banks commonly request adaptations to the standard paperwork:
- Colombia: an apostilled bank letter and statements from the last 6 months, with certified translation if the bank requires it.
- Mexico: proof of income or tax filings (constancia de situación fiscal), plus the bank reference letter.
- Peru and Ecuador: translated bank statements and income proof; some lenders also ask for a notarized letter confirming the source of funds.
- Chile: similar documentation, though some banks more easily recognize Chilean credit history thanks to the greater formality of the local financial system.
In all cases, the apostille and certified translation are the steps that most often delay the process if not prepared in advance. Check out our country guides (linked below) for the specifics of each market.
11. Financing by property type
The down payment and rate can vary depending on the type of property you buy:
- Condominiums: usually come with additional requirements tied to the building’s financial health (HOA reserves, percentage of rented units).
- Single-family homes: generally the simplest profile to finance.
- Condotels or vacation properties: some lenders require higher down payments or don’t finance this type of product; confirm before making an offer.
12. Refinancing and cash-out
Refinancing is also available for non-residents. A cash-out refinance lets you free up capital from a property you’ve already partially paid off, to reinvest in a new purchase or any other goal. It’s a useful tool within a long-term portfolio strategy.
13. Types of institutions offering financing
- Traditional U.S. banks. Offer stability and competitive rates, with a more thorough documentation process.
- Private lenders (specialized lenders). More flexibility and speed, with slightly higher rates but fewer requirements.
- International programs tied to developers. Some pre-construction projects offer internal direct financing plans, with payments during construction. Check out our Miami pre-construction guide for more detail.
Florida HomeGroup Realty advises on which option best fits your profile, budget, and investment goal.
14. Tips for fast approval
- Prepare your documentation in advance.
- Keep funds in provable accounts, preferably with recognized international banks.
- Avoid high debt or unexplained bank movements.
- Request a bank reference letter.
- Align your budget with properties eligible for financing.
A well-prepared file can cut approval time from 60 to 30 days.
Frequently asked questions
Do I need a visa or residency to apply for a mortgage?
No. Just your passport and proof of international income or, for a DSCR loan, the property’s projected rental income.
Can I pay the loan from my home country?
Yes, through international wire transfers or local U.S. accounts.
Can I buy under my company or LLC’s name?
Yes. Many banks allow the purchase to be structured under a company for tax benefits and legal protection.
Does financing apply only to new homes?
No. It can be used for both new and resale properties, or even vacation condos, with the special conditions mentioned above.
What is a DSCR loan and how does it differ from a foreign national loan?
A DSCR loan qualifies based on the property’s rental income, not your personal income or tax returns. A foreign national loan evaluates your international income and assets directly.
How much down payment do I need in 2026?
Between 25% and 30% for most programs; up to 35-40% if the property’s rental cash flow is tight (DSCR below 1) or if you use a private lender.
What interest rate can I expect in 2026?
Starting at approximately 7% annually for foreign national and DSCR loans (residents typically have access to rates near 6.1%). The final rate depends on LTV, reserves, property type, and your profile.
How much do I need in reserves?
Most lenders ask for 6 to 12 months of mortgage payments in provable liquid funds, in addition to the down payment.
Do I need U.S. credit history?
It’s not mandatory. Lenders evaluate your international credit history, though a good history in your home country works in your favor.
Finance your investment with strategy, not limitations
Mortgage financing for foreigners in Florida is a powerful tool for multiplying your investment capacity. With Florida HomeGroup Realty’s guidance, you’ll be able to choose the right property, connect with reliable lenders, and build a solid dollar-denominated portfolio, even from your home country.
Also check out the requirements to buy a house in Florida, the taxes foreigners pay, and properties eligible for financing in our Orlando and Miami investment guides, or browse our available properties directly. If you’re looking for country-specific detail, we have guides for investors from Colombia, México, Perú, Ecuador, and Chile.
Finance your Florida property with the backing of international investment experts.
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