Foreign nationals buying property in the United States face unique mortgage requirements — especially when they do not have a Social Security Number (SSN). In 2025, demand for ITIN mortgages and foreign national loan programs has grown significantly as more international buyers invest in U.S. residential and rental real estate.
Whether you’re a non-resident investor, temporary visa holder, or foreign citizen earning income abroad, understanding how lenders calculate mortgage requirements is essential. Before applying, buyers should run cost scenarios using a mortgage calculator (
https://calculatingamortgageloan.com/mortgage-calculator/) to understand how down payments, interest rates, and reserves impact affordability.
Section 1: The difference between ITIN and SSN mortgages
SSN Mortgage (Traditional Loan)
Borrowers use a Social Security Number for loan qualification.
Supports:
- FHA
- Conventional
- VA
- USDA
- Jumbo loans
Borrowers must provide U.S. credit history and verifiable income.
ITIN Mortgage (Individual Taxpayer Identification Number)
Designed for borrowers
without an SSN.
Ideal for:
- Non-U.S. citizens
- Immigrants without permanent status
- Foreign workers
- Residents working without SSN
- Non-resident investors
ITIN loans are
Non-QM programs, meaning they follow flexible underwriting but require larger down payments.
Section 2: Borrower categories for foreign national loans
✔ Non-resident foreign nationals
No SSN, no green card, limited U.S. credit history.
✔ Resident aliens
Temporary or permanent visas (E, H, L, TN, O).
✔ ITIN borrowers
Have an ITIN issued by the IRS but no SSN.
✔ Foreign investors
Buy U.S. real estate using foreign-source income. Each category affects documentation requirements, down payment, and underwriting.
Section 3: Down payment requirements — ITIN vs SSN
SSN Loans (Traditional):
- 3%–5% down (Conventional)
- 3.5% down (FHA)
- 0% down (VA/USDA, if eligible)
ITIN Loans:
- 15%–30% down for primary residence
- 25%–35% down for second homes
- 30%–40% down for investment properties
Foreign National Loans:
- 25%–40% down depending on country of origin and banking systems
- Large reserves required (6–12+ months)
Foreign buyers are higher-risk due to difficulty collecting debt across borders, which increases down payment requirements.
Section 4: Credit requirements for ITIN and foreign national borrowers
SSN Borrowers:
- Standard U.S. credit report required
- 620 minimum for FHA/conventional
- 680+ preferred for stronger pricing
ITIN Borrowers:
- No U.S. credit required
- Alternative credit accepted:
- Rent history
- Utility bills
- Bank statements
- School payments
- International credit reports
Foreign Nationals:
- May use international credit reports
- Large reserves can offset weak credit
- Lower loan-to-value ratios required
Section 5: Income documentation rules
✔ SSN / Traditional Borrowers
Must provide:
- W-2s
- Paystubs
- Tax returns
- Employment verification
✔ ITIN Borrowers
More flexible:
- Tax returns (1040 with ITIN)
- 12–24 months bank statements
- Self-employment documentation
- Foreign income accepted (translated)
✔ Foreign National Borrowers
Even more flexible:
- Bank statements
- Asset statements
- CPA or accountant letters
- Foreign tax returns (translated)
- Rental income support
Foreign national loan programs often focus more on
assets than income.
Section 6: Mortgage calculation example — ITIN borrower
Scenario:
Home price: $450,000
Down payment: 20% → $90,000
Loan amount: $360,000
Rate: 7.75% (typical ITIN rate)
Term: 30 years
P&I payment:
≈
$2,578/moAdd:
Taxes: $350/mo
Insurance: $160/mo
Total payment:
≈
$3,088/mo Actionable Tip: Always verify affordability using a home loan calculator (
https://calculatingamortgageloan.com/home-loan-calculator/) because ITIN rates are typically higher.
Section 7: Mortgage calculation example — Foreign National Loan
Scenario:
Home price: $700,000
Down payment: 30% → $210,000
Loan amount: $490,000
Rate: 8.25%
Term: 30 years
P&I payment:
≈
$3,682/moAdd:
Taxes: $550/mo
Insurance: $200/mo
Total payment:
≈
$4,432/mo Foreign national mortgage rates are higher because lenders assume more risk.
Section 8: Pros and cons of each loan type
SSN Loans — Pros:
- Lowest rates
- Small down payments
- Broadest loan options
Cons:- Requires strong U.S. credit
- Requires full income documentation
ITIN Loans — Pros:
- Flexible credit requirements
- Foreign income allowed
- No SSN needed
Cons:- Higher interest rates
- Larger down payments
- Higher reserve requirements
Foreign National Loans — Pros:
- Tailored for international buyers
- Minimal documentation required
- Income from abroad accepted
Cons:- Highest interest rates
- Large down payments
- Not eligible for FHA, VA, USDA programs
Section 9: Who should use ITIN or foreign national loans?
✔ Best for:
- New immigrants
- International investors
- Foreign employees relocating
- Non-residents buying rental homes
- Buyers without U.S. credit
✔ Not ideal for:
- Buyers seeking the lowest rates
- Borrowers with SSNs who qualify for FHA or conventional
- Buyers lacking liquid assets
Conclusion
Foreign national and ITIN mortgage programs allow non-U.S. citizens and buyers without Social Security Numbers to invest in American real estate. These loans have larger down payments, higher rates, and more flexible documentation rules, making affordability calculations essential.
Before choosing a loan type, buyers should compare monthly payments using tools like a mortgage calculator (
https://calculatingamortgageloan.com/mortgage-calculator/) and a home loan calculator to understand the true cost of borrowing. With the right strategy, foreign buyers can successfully enter the U.S. housing market in 2025.
FAQs
1. Can I get a mortgage without an SSN?
Yes — through ITIN or foreign national loan programs.
2. Do ITIN borrowers get higher rates?
Yes — due to higher lending risk.
3. Can foreign income be used to qualify?
Yes — with proper translation and documentation.
4. Are ITIN loans safe?
Yes — they are legitimate Non-QM loan products.
5. Can foreign nationals buy investment property?
Yes — many programs are designed specifically for investors.
