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  • Writer's pictureAlexandre Ferrari

What are the key requirements for obtaining a foreign national mortgage in Florida?

The key requirements for obtaining a foreign national mortgage in Florida typically include:

1. Valid Passport: Proof of identity through a valid foreign passport.

2. Visa or Other Entry Documentation: Depending on the lender, a visa may not be required, but if it is, appropriate U.S. entry documentation is necessary.

3. Credit History: Foreign credit reports or evidence of creditworthiness. Some lenders may accept credit reports from foreign credit agencies, while others may require alternative forms of credit verification.

4. Proof of Income: Documentation of income, which could include bank statements, tax returns from the home country, or proof of earnings. Income verification is crucial to demonstrate the ability to repay the mortgage.

5. Down Payment: A higher down payment is typically required, often 30% or more of the property's purchase price.

6. U.S. Bank Account: A U.S. bank account is usually required to facilitate mortgage payments.

7. Property Appraisal: An appraisal to confirm the value of the property being purchased.

8. Additional Financial Reserves: Proof of financial reserves beyond the down payment, often several months’ worth of mortgage payments, to ensure the borrower can manage payments after closing.


Lenders might have specific requirements and it's advisable to consult directly with Ferrari Lending an experienced in foreign national mortgages for the most accurate and up-to-date information.




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