Foreign National Loans
What is a foreign national loan and who qualifies?
US investment property loans for non-US citizens. Our Foreign National program is built for non-resident investors buying US rental real estate. No SSN, no ITIN required, and no US credit — we qualify with passport ID, international credit reference (or none), verified assets, and the property's projected DSCR.
Reviewed and updated August 31, 2026
- No SSN, no ITIN, no US credit required — passport ID and international credit references.
- Typical: 25–35% down (65–75% LTV), 6 months PITIA reserves in a US or foreign bank; 12 months on some programs. Cash-out is capped at 70% LTV.
- Property qualifies via DSCR — projected rent ÷ PITIA — just like a domestic DSCR loan.
- Close remotely via US embassy notary. Vest in a US LLC (required on most programs).
Current Foreign National DSCR Rates
Foreign national pricing is not a single published number. Residency status, the credit documentation you can provide, entity vesting and reserve strength all change the eligible investor set, so a foreign national quote must be returned by the pricing engine for that exact scenario rather than read off a rate sheet.
The live options below are DSCR quotes for a qualifying rental scenario and are shown so you can see the structure of a real quote — rate, the APR shown for that quote, points or lender credit, the primary lender fee and the monthly payment. Foreign national programs are separate programs with their own eligibility and pricing and may price differently.
To see your actual pricing, run the scenario with foreign national selected in the rate center, or send passport, entity and reserve details and a loan officer will return written pricing.
Live pricing unavailable — no current pricing response.
Get My Live DSCR Rates
The three cards above are featured examples from the current snapshot. Enter your own property, credit tier, leverage and rent to see every eligible option for your deal.
Rate & Pricing Disclosure: This quote is an indication for the scenario entered and the pricing available at the time shown. Rates and terms are subject to change without notice and may change or may not be available at commitment or closing. This is not a rate lock, loan approval, commitment to lend or offer of credit. APR reflects applicable borrower-paid finance charges and pricing credits for this quote and may be the APR returned with the quote or our own audited calculation where verified borrower-paid finance charges outside the quoted price apply. Additional lender and third-party costs may apply and may not be included in the APR. Payment shown is principal and interest only and excludes taxes, insurance, HOA dues and other applicable costs, so your actual payment will be higher. Simply Approved Mortgages LLC is a mortgage broker, not the funding lender. Business-purpose, non-owner-occupied investment property only. Equal Housing Opportunity.
APR reflects applicable borrower-paid finance charges and pricing credits for this quote. Depending on the option, the APR shown is either the APR returned with that quote or our own audited calculation, used where verified borrower-paid finance charges outside the quoted price apply. Other lender and third-party costs may apply and may not be included in the APR.
Estimated payment is principal and interest only and does not include property taxes, insurance, HOA dues, flood insurance, escrows or other applicable costs.
Rate questions for this page
Can you quote a foreign national rate without US credit?
Yes. Pricing is driven by the property, leverage and documentation package rather than a US credit score, though the absence of US credit does affect which investors can price the file.
Is maximum leverage lower for foreign nationals?
Maximum leverage on foreign national programs is set by each investor and can differ from standard DSCR limits. We confirm the limits that apply to your scenario in writing.
US investment property loans for non-US citizens.
Our Foreign National program is built for non-resident investors buying US rental real estate. No SSN, no ITIN required, and no US credit — we qualify with passport ID, international credit reference (or none), verified assets, and the property's projected DSCR.
Get your Foreign National Eligibility Summary.
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
What a Foreign National loan is
A Foreign National loan is a US investment property mortgage designed for non-US citizens who do not have a Social Security Number, an ITIN, or a US credit history. It is a business-purpose DSCR loan — the property qualifies on projected rent divided by PITIA, and the borrower qualifies with passport ID, verified assets, and (where available) two international credit references.
Who qualifies
Non-resident aliens residing outside the US, and foreign nationals holding US visas who do not yet have US credit history. We lend to nationals of most FATF-compliant countries; OFAC-sanctioned jurisdictions are excluded. US citizens (including returning expats) and DACA/ITIN borrowers are underwritten on our domestic DSCR or non-QM programs, not this one — ask us for a referral. A US LLC is required on most programs for liability protection and lending structure; we can refer formation partners if you need one.
How the underwriting works
- Identity: valid passport plus a US visa if held (any type — B, E, F, H, L, O, TN). Visa is not required when the borrower resides outside the US and qualifies on passport ID plus reserves.
- Credit: two international credit references (bank, credit card, or landlord) OR 12 months of clean bank statements. No US credit report required.
- Income: not verified. The property's DSCR carries qualification.
- Assets: down payment + reserves verified via seasoned bank statements (60–90 days). Funds can sit in a US or foreign bank; source-of-funds documentation required.
- OFAC review: standard sanctions screening on all guarantors and source countries.
Rates, terms, and leverage
Rates typically run 1.00%–1.75% above domestic DSCR pricing to account for cross-border servicing risk. Purchase and rate/term LTV is typically 65–75% (25–35% down) and cash-out caps at 70% — 65% on 2–4 units, condos, condotels, and rural properties. 30-year fixed, 5/6 ARM, and 7/6 ARM are all available. Interest-only is available on select programs. Reserves are 6 months PITIA at 720+ credit reference tier, 12 months below that.
How to close from abroad
Closings happen at a US embassy or consulate notary, or via an approved international mobile notary. In select markets you can close in-country using an apostilled Power of Attorney. We coordinate the entire timeline with title, entity counsel, and international wire desks — a typical foreign national close is 21–30 business days from complete application.
Illustrative only. Not a quote, lock, offer, or commitment to lend.
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Why investors choose this Foreign National loan program
Passport + visa (any type) or country-of-residence ID.
Two international credit references or bank statements accepted.
We coordinate with your US CPA/attorney for entity setup.
Reserves and down payment verified via seasoned foreign bank statements.
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Foreign National qualifications at a glance
Program guidelines vary by investor. These are typical ranges — a Loan Officer confirms exact numbers on your scenario.
| Requirement | Typical | Notes |
|---|---|---|
| Credit reference | No US credit score required | 680+ US FICO and no-score files qualify at the same LTV tier. |
| Down payment / LTV | 25%+ down (up to 75% LTV) | 75% purchase and rate/term, 70% cash-out at or under $1M. 2–4 units, condos, condotels and rural cap at 70% purchase / 65% cash-out. |
| Minimum DSCR | 1.00 for full leverage | Below 1.00 is considered with LTV reduced to 65–70%. |
| Income verification | Not required | Property DSCR carries qualification. |
| Reserves | 6 months PITIA | Cash-out proceeds may be used. Foreign bank statements accepted if the source is documented. |
| Vesting | Individual or US entity | Entities: max 4 members with personal guaranty from 25%+ owners. Power of attorney is not permitted. |
| Loan amount | $150K – $1.5M | Cash-out proceeds capped at $300K at 50%+ LTV, or $500K below 50% LTV. |
| Property types | 1–4 unit, condo, condotel | 2–4 units are not eligible in Illinois or New York. |
| ID required | Passport + visa, I-797/I-94, or VWP evidence | Canadians need no visa. Your primary residence must be documented outside the US. ACH auto-pay required. |
| OFAC screening | Required for all parties | OFAC-sanctioned countries not eligible; DACA recipients are not eligible on this program. |
Ranges are typical program guidelines and vary by investor, credit tier, and market. Not a commitment to lend.
Foreign National loan use cases
- First-time US property buyers
- Portfolio expansion from abroad
- Vacation-rental / STR acquisitions
- Delayed-financing after cash close
Foreign National Loan Rates & Pricing Tiers
Foreign National rates price at a spread above domestic DSCR to account for cross-border servicing, OFAC review, and the absence of a US credit report. Best pricing lands at strong international credit references, 65% LTV, and 6-month reserves. Rates below are indicative for a 30-year fixed on a 1–4 unit US investment property held in a US LLC.
Foreign National DSCR pricing typically runs about 1.00–1.75 points over comparable domestic DSCR rates. Actual pricing changes daily by country of residence, credit tier, LTV, and DSCR — see the live 30-year benchmark below and submit a complete application for an initial scenario review; formal pricing follows underwriting.
12-month clean bank statements accepted in lieu; adds ~0.25%.
70% purchase LTV available; 65% cash-out max.
1.00–1.19 standard tier; No-Ratio to 0.85 with 40% down.
OFAC-sanctioned countries not eligible; tier-2 countries may add pricing.
| Tier | DSCR | LTV | FICO | Notes |
|---|---|---|---|---|
| Best pricing | 1.20+ | 65% | 2 intl refs | Strongest pricing tier; 6-month reserves; established FATF country. |
| Standard pricing | 1.00–1.19 | 75% | 2 intl refs OR 12mo stmts | Most common foreign national scenario; 25% down. |
| No-Ratio Foreign National | 0.85–0.99 | 60% | 12mo stmts | Property doesn't fully cover payment; 40% down; rate premium. |
| Visa-held US-resident | 1.00+ | 75% | 660+ US FICO | Visa holders with US credit qualify closer to domestic DSCR pricing. |
Predictable payment; most popular for long-term US rental holds by non-residents.
Lower start rate; good for investors planning a US sale or refi within 5–7 years.
Lowest monthly payment to maximize distributable cash flow abroad.
Rates and fees shown are illustrative and not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate or Term Sheet. Call or submit a scenario for exact pricing tied to your country of residence and credit profile.
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Foreign National rate & market update
Compiled from Freddie Mac PMMS, U.S. Treasury, and BLS releases. Figures are published with the period they cover and the date they were retrieved.
Foreign National loan calculator
Run your ratio before you make an offer. Uses the standard PITIA-based DSCR formula.
- Principal + Interest
- $1,767 / mo
- Taxes
- $310 / mo
- Insurance
- $120 / mo
- HOA
- $0 / mo
- PITIA
- $2,197 / mo
- Monthly cash flow (pre-vacancy)
- $453 / mo
Estimate only. Not a rate quote, lock, or commitment to lend. Talk to a Loan Officer for exact pricing.
Foreign National fit tools
Estimate your DSCR, model an illustrative loan size under your own LTV and target-ratio assumptions, and generate a scenario summary you can send to a loan officer.
Pick a deal shape to load illustrative starting numbers, then edit every field to your own deal. These examples are not program terms, published pricing, leverage limits, or ratio requirements, and no figure is represented as typical or available.
DSCR Ratio Calculator
Estimate the ratio using the standard formula: DSCR = Gross Monthly Rent ÷ PITIA. DSCR underwriting generally focuses on the property's cash flow rather than a conventional personal debt-to-income calculation; documentation requirements vary by lender, program, borrower and scenario.
Section 8 rent check — HUD Fair Market Rent
Pull the current HUD FMR by ZIP or county and compare it to your market rent.
Open-market rent check — Census ACS median rent
Pull the published median market rent for a state or investor city and compare it to the HUD Section 8 payment standard.
- Principal + Interest
- $1,767 / mo
- PITIA
- $2,197 / mo
- Cash flow (pre-vacancy)
- $453 / mo
Estimate only. Not a rate lock or commitment to lend.
Loan Size & LTV Scenario
An illustrative loan size constrained by the loan-to-value and target DSCR you enter: min(your LTV assumption × value, loan that solves your target ratio). These are your assumptions, not program limits, and this is not an eligibility determination.
- Implied LTV
- 80.0%
- Cash to close (down)
- $72,000
- Estimated PITIA
- $2,524 / mo
- DSCR at this loan
- 1.05
Illustrative math based on the assumptions you entered. Actual eligibility, leverage, ratios and pricing vary by lender, program, credit profile, property type and state, and are determined in underwriting. Not an approval, eligibility determination, or commitment to lend.
Which rental strategy fits your property?
Foreign national DSCR loans finance all three of the most common rental strategies — but each one prices, underwrites, and cash-flows differently. Here's the honest trade-off so you can pick the right one before you write an offer.
Single-family long-term rental
The lowest-friction rental strategy for foreign national investors. Underwriters have decades of comps, insurance is cheap, and the lease itself is the qualifying income document — no tax returns, no operating history required.
- +Highest LTV and best pricing across all rental strategies
- +Qualifies on the lease or market rent (1007) — whichever is lower
- +Lowest vacancy assumption (typically 5%) in the DSCR calc
- +Landlord-friendly states (FL, TX, GA, TN, NC) offer fast evictions
- +Insurance, management, and lender comfort are all cheapest here
- −Lower gross rent than STR in tourist markets
- −Single tenant = 100% vacancy when they leave
- −Rent growth capped by local market and lease terms
- −Limited upside — you're a price-taker on rent
Short-term rental (Airbnb / VRBO)
Short-term rentals can produce 1.5–2.5× the gross income of a long-term lease in vacation and urban-tourism markets — but underwriters treat the income more conservatively and local regulation is the #1 risk to the deal.
- +Highest gross revenue potential in the right market
- +Personal use possible (subject to program rules) between bookings
- +Dynamic pricing captures seasonal and event demand
- +Cash flow can support higher purchase prices at the same DSCR
- −Underwriter uses AirDNA/market data or a 12-month operating history — not asking rents
- −Higher vacancy factor (typically 25–35%) baked into the DSCR calc
- −STR insurance costs 2–3× a standard landlord policy
- −Cities and HOAs are actively banning or capping STRs — permit risk is real
- −Management fees run 20–30% of revenue vs. 8–10% for long-term
- −Higher turnover means more wear, more furniture replacement, more headaches
Section 8 / Housing Choice Voucher
Section 8 pairs a private landlord with a tenant whose rent is partially or fully paid by the local Public Housing Authority (PHA). The government portion of the rent is direct-deposited monthly, on time, regardless of the tenant's personal situation — which is why many buy-and-hold investors love the strategy in working-class markets.
- +Government-guaranteed portion of rent — near-zero default on that share
- +PHA-set rents often meet or exceed local market rent in C/D-class areas
- +Long tenant tenure — voucher-holders rarely move because vouchers are portable but re-inspection is a hassle
- +Strong demand — waitlists in most metros are 2–5 years long
- +Rent increases are permitted annually within PHA fair market rent limits
- −Annual HQS (Housing Quality Standards) inspection — property must pass or payments pause
- −PHA lease-up can take 30–60 days after tenant selection
- −Tenant portion (if any) is your collection risk — screen carefully
- −Some PHAs are slow to approve rent increases
- −Higher wear-and-tear in some units — budget realistically for turns
- −Property must be in a Section 8-eligible area (most are; verify with the PHA)
Run your scenario before you apply
Two quick, real calculators built specifically for non-US investors buying US rentals. No sign-up — but when you're ready, they push straight into your pre-approval.
Cash-to-close & reserves calculator
Foreign national programs typically require 25–35% down (65–75% LTV on purchase; 70% max cash-out), 6–12 months of PITIA in reserves, and closing costs that run higher than domestic loans once foreign wires, entity setup, apostille, and embassy notary fees are included (budget ~5–7%). See what you actually need at closing.
- Loan amount
- $315,000
- Down payment
- $135,000
- Closing costs
- $27,000
- Reserves needed in US bank
- $28,800
- Total funds to close
- $190,800
Foreign national eligibility check
30-second pre-screen against OFAC, program type, and reserves rules. Not a credit decision.
US LLC + DSCR is the standard vesting for foreign nationals. Expect 21–30 business days from complete file.
Foreign National loan vs. other investor financing
How a Foreign National DSCR loan compares to the paths non-US investors typically consider. Foreign National wins on documentation and remote closing; all-cash wins on speed; portfolio lenders win on scale.
| Feature | Foreign National DSCR | US DSCR (resident) | All-Cash Purchase | Portfolio / Private |
|---|---|---|---|---|
| SSN / ITIN required | No | SSN required | No | Case-by-case |
| US credit required | No — international refs OK | 660+ FICO | No | No |
| Min down payment | 30–35% | 20–25% | 100% | 30–40% |
| Typical rate range | Domestic DSCR + ~1.00–1.75% | Market DSCR pricing | N/A | Market + premium |
| Time to close | 21–30 days | 21–30 days | 7–14 days | 30–45 days |
| Remote / embassy close | Yes | Yes | Yes | Varies |
| Leverage on next deal | Yes — refi cash out | Yes | Delayed financing only | Yes |
Eligible & ineligible properties for a Foreign National loan
If your asset is on the eligible list, we can quote it. If it's on the ineligible list, we'll usually still route you to a program that fits.
- Single-family residence (SFR), attached or detached
- 2–4 unit small multifamily (duplex, triplex, fourplex)
- Warrantable condominiums (non-warrantable case-by-case)
- Planned Unit Developments (PUDs) and townhomes
- Short-term rental (Airbnb / VRBO) properties in permitted markets
- US LLC-vested rental properties in FATF-compliant investor's name
- Owner-occupied primary residences (business-purpose only)
- Properties funded from OFAC-sanctioned jurisdictions
- Rural properties on >20 acres or with agricultural use
- Manufactured / mobile homes
- Working farms, ranches, or licensed care facilities
- Fractional interests, co-ops, and timeshares
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Benefits and trade-offs of a Foreign National loan
- No SSN, no ITIN, no US credit history required.
- Close remotely from abroad — no US travel required.
- Vest in a US LLC for asset protection and privacy.
- Standard DSCR underwriting — no US tax returns.
- Licensed in Florida and Colorado; LLC business-purpose loans available in additional states where permitted, with one underwriting team.
- STR income accepted on eligible programs.
- Higher rates than domestic DSCR (typically +1.00–1.75%).
- Larger down payment: 30–35% minimum.
- OFAC-sanctioned countries excluded.
- US LLC formation typically required.
- Source-of-funds documentation adds 3–5 days to processing.
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Foreign National loan worked example
A Canadian investor buying a $400,000 single-family rental in Central Florida. Market rent (Form 1007) is $2,900/month. He puts 30% down and closes in a Florida LLC via the US consulate in Toronto.
- Purchase price
- $400,000
- Down payment (30%)
- $120,000
- Loan amount
- $280,000
- Market rent (Form 1007)
- $2,900 / mo
- Property taxes
- $385 / mo
- Insurance
- $165 / mo
- HOA
- $0
- Credit reference tier
- 2 international bank refs (720-equivalent)
- P&I at illustrative note rate (30-yr fixed)
- ≈ $2,228 / mo
- PITIA = P&I + tax + ins + HOA
- $2,778 / mo
- DSCR = Rent ÷ PITIA
- $2,900 ÷ $2,778 = 1.04
- Program minimum (DSCR ≥ 1.00)
- ✓ Qualifies
- Monthly cash flow (pre-vacancy)
- + $122 / mo
Outcome: Property qualifies at a 1.04 DSCR with 30% down and 6 months reserves in a foreign bank. No US credit, no US tax returns, closed remotely from Canada.
Illustrative only. Not a rate quote, lock, offer, or commitment to lend. Binding terms appear on your Loan Estimate.
Real Foreign National borrowers, real deals
"Illustrative scenario: a Canadian investor closes a first US rental remotely with passport, two international bank references, and a Florida LLC in roughly 24 business days."
"Illustrative scenario: a Mexican national with no US credit vests in a US LLC and signs at a US consulate abroad within the same week as final approval."
"Illustrative scenario: a UK-based STR operator refinances two Florida short-term rentals using program-eligible rental income, cash-out at 65% LTV."
Foreign National loan process: from scenario to close
- STEP 1Scenario & entity setup
Confirm US LLC (or we refer a formation partner). Property, rent, and reserves reviewed.
- STEP 2Application & docs
Passport, visa (if held), international credit refs, 2 months bank statements.
- STEP 3Appraisal & rent schedule
Same 1007/1025/216 forms as domestic DSCR.
- STEP 4Underwrite
OFAC + source-of-funds review, typically 15–20 business days.
- STEP 5Remote close
Notary at nearest US embassy/consulate or approved international mobile notary.
Get your Foreign National Eligibility Summary
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Foreign National loan document checklist
Here's what to have ready when you apply. Missing items can be added during processing — but a complete file closes faster.
- Valid passport for every guarantor
- US visa (if held) — any type. Visa not required for borrowers residing outside the US.
- Two international credit references (bank, credit card, or landlord) OR 12 months of clean bank statements
- 60–90 days of seasoned bank statements (US or foreign) covering down payment + reserves
- Source-of-funds documentation for any large deposits (sale of asset, salary, business distribution)
- US LLC docs — Articles, Operating Agreement, EIN letter, Certificate of Good Standing
- Purchase contract or existing note & mortgage
- Title commitment from an approved US title company
- Homeowners / landlord insurance quote naming the lender as mortgagee
- IRS Form W-8BEN (executed at closing for withholding purposes)
Foreign National loans in Florida, Colorado, and LLC-eligible states
Simply Approved Mortgages LLC (NMLS #2620881) is a mortgage broker, not a direct lender, and arranges residential mortgage loans in Florida and Colorado. Foreign National business-purpose loans may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Foreign National loan questions, answered
The questions investors ask us most — plus the exact answers we give on the phone.
Do I need a US Social Security Number?
No. We do not require an SSN or ITIN. Passport identification is sufficient.
Do I need US credit history?
No. Two international credit references — bank, credit card issuer, or landlord — satisfy the credit requirement. If unavailable, 12 months of clean bank statements are accepted.
How much down payment do I need?
25–35% on purchase (65–75% LTV). Cash-out refinances cap at 70% LTV, and 65% on 2–4 units, condos, condotels, and rural properties.
Do I need to travel to the US to close?
No — most closings happen remotely at a US embassy or consulate notary, or with apostilled documents. Note that a Power of Attorney is not permitted on this program, so the guarantor must sign personally.
Do I need US tax returns?
No US tax returns are required. A W-8BEN is executed at closing for tax-withholding purposes.
Which countries are eligible?
Most FATF-compliant countries. Borrowers residing in or funding from OFAC-sanctioned jurisdictions — currently Cuba, Iran, North Korea, Syria, and the sanctioned regions of Ukraine (Crimea, Donetsk, Luhansk, Kherson, and Zaporizhzhia) — are not eligible. Sectoral sanctions (e.g. Russia, Belarus, Venezuela, Myanmar) require enhanced review and are considered case-by-case.
Can I use a US LLC?
Yes — and we require it on most programs. We can refer formation partners if you don't have one yet.
Can I use foreign bank statements for reserves?
Yes. Foreign bank statements are accepted if the source of funds is documented (salary, business distribution, asset sale, inheritance).
What visa do I need?
Any US visa type — B, E, F, H, L, O, TN — qualifies if held. A US visa is not required for borrowers residing outside the US who qualify on passport ID plus reserves.
How long does a foreign national close take?
21–30 business days from complete application, including OFAC and source-of-funds review.
Can foreign nationals do short-term rentals?
Yes — on the same STR-eligible programs available to domestic DSCR borrowers.
Are there prepayment penalties?
Yes, typically a 3–5 year step-down on the most competitive rates. No-prepay options are available at a rate premium.
How high are foreign national rates?
Typically 1.00%–1.75% above domestic DSCR pricing. Rates move daily — see the live 30-year benchmark on this page and submit a complete application for an initial scenario review; formal pricing follows underwriting.
Which calculators should I run before financing a rental?
Start with the DSCR calculator to test rent against the payment, then the cap rate calculator for the unlevered yield, the cash-on-cash return calculator for the levered year-one return, and the ARV calculator when the plan involves a rehab. All outputs are illustrative estimates, not an approval, an offer of credit, or a commitment to lend.
Do the calculators work for every state?
No. Results are shown only for the states where we arrange financing, where Simply Approved Mortgages LLC arranges business-purpose investment property financing. Selecting any other state withholds results — the check runs on our servers and fails closed.
Can I share or save my calculator results?
Yes. Every calculator produces a share link that encodes the scenario inputs only — names, emails, phone numbers, and addresses are never included — plus a copy-to-clipboard summary of the key numbers you can paste into an email or a deal memo.
What is Simply AI and can it approve my loan?
Simply AI explains the figures already shown on the page in plain English. It provides educational explanations only, does not quote rates, does not confirm eligibility, and cannot approve financing. Rates, eligibility, fees, and terms are subject to verification and change — speak with a licensed loan originator before making a financing decision.
How We Evaluate This Scenario
Non-resident investor files rarely stall on credit — they stall on documentation and logistics. A US entity, an ITIN or equivalent identification where required, a US bank account, translated and sometimes apostilled documents, and a plan for signing (embassy, consulate, or power of attorney) set your realistic closing date more than underwriting does.
Qualification generally runs on the property's rent plus documented, seasoned reserves rather than a US credit score, and leverage is typically capped lower than for US-resident borrowers. Reserve requirements are usually stated in months of PITIA and must be traceable to a source, so move funds early and keep the paper trail.
Expect source-of-funds and sanctions screening on every file. Gifted or recently transferred funds without documentation are the most common cause of last-minute conditions.
Reviewed by Simply Approved Mortgages · NMLS #2620881. Business-purpose investor lending only.
Government & regulatory references
Independently verify program rules and consumer protections.
Related programs & tools
The same DSCR math, for US residents.
Buy a vacation rental as a foreign national.
Consolidate a US rental portfolio into one blanket loan.
Florida and Colorado licensed; LLC business-purpose loans in additional states.
Same-day scenario review on complete submissions.
Important disclosures
Not a commitment to lend. All loan terms, interest rates, APRs, points, fees, LTV limits, DSCR thresholds, reserve requirements, program guidelines, and eligibility criteria shown on this page are for informational and illustrative purposes only. They are indicative, not guaranteed, and are subject to change at any time without notice based on market conditions, investor overlays, and individual borrower and property qualification. Final terms are only established in a written loan estimate, pricing feedback, or commitment letter issued after underwriting review.
Rates & pricing. Any rates, spreads, or benchmark data displayed — including live-feed data from public sources such as FRED — reflect general market conditions at the time of retrieval, not a rate offered to you. Your actual rate depends on credit score, DSCR, LTV, loan amount, property type, occupancy, state, prepayment structure, lock period, and market movement at time of lock.
Tools & calculators. Calculators (including the DSCR calculator, cash-to-close estimator, rent estimates, HUD FMR lookups, AVM values, and eligibility checkers) produce estimates from the data you enter and third-party sources. They do not constitute an appraisal, valuation, market rent determination, underwriting decision, tax advice, or legal advice.
Program-specific. Foreign national program guidelines vary by investor and change frequently. Eligibility depends on country of citizenship and residency, OFAC screening, source of funds, documentation, property type, state, and vesting. Nothing on this page — including country lists, LTV caps, reserve requirements, or the eligibility quick-check tool — is a commitment to lend or a determination of your eligibility.
Business-purpose only. Foreign National loans are made exclusively for business, commercial, or investment purposes. They are not for personal, family, or household use, and the subject property may not be occupied by the borrower or their family. Business-purpose loans are exempt from most consumer mortgage protections including TILA, RESPA, and the ATR/QM rule.
Licensing & geography. Simply Approved Mortgages LLC | NMLS #2620881 · Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans in Florida and Colorado. Business-purpose loan products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions. Eligibility, terms, conditions, and availability vary by borrower, property, lender, loan program, and state. Not all products or programs are available in all states. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. See our licensing page.
Third-party content. Testimonials shown are illustrative scenarios unless otherwise noted and do not guarantee future results. Links to third-party sites (FRED, HUD, FinCEN, IRS, state regulators) are provided for reference and are not endorsements.
This page is maintained by Simply Approved Mortgages and is intended as general information about our loan programs. It is not legal, tax, or financial advice. Consult a qualified professional for advice specific to your situation.
Run the numbers on your Foreign National deal
Free calculators for the metrics underwriting actually looks at, plus side-by-side deal comparisons. All outputs are illustrative estimates and are not an approval, offer of credit, or commitment to lend.
Whole-deal underwriting: PITIA, DSCR, NOI, cap rate, cash-on-cash and refinance proceeds.
Test rent against PITIA and see the ratio a lender underwrites to.
Year-one levered return on the cash you actually put into the deal.
NOI, unlevered yield, and implied value at your target cap rate.
Comp-based after-repair value with the 70% rule and profit projection.
Model the rehab loan and the DSCR refinance in one place.
The monthly rent required to reach a 1.00, 1.10 or 1.25 ratio.
Full monthly PITIA — principal, interest, taxes, insurance and dues.
LTV, CLTV, equity, and proceeds available at your target leverage.
Proceeds, new payment, DSCR impact and break-even in months.
Cash to close: fees, prepaids, escrow reserves and credits.
Cash flow, DSCR and principal paydown side by side.
Cost of a step-down prepay at your planned exit year.
Investor metrics for the markets where we arrange financing.
Deal comparisons
- DSCR Loan vs BRRRR Strategy
- DSCR Loan vs Fix & Flip Loan
- DSCR Long-Term Rental vs Short-Term and Mid-Term Rental Financing
Program availability, leverage, and terms vary by state and program. Business-purpose, non-owner-occupied investment property only; owner-occupied use is not supported. Simply Approved Mortgages LLC is a mortgage broker and arranges — but does not make — loans. Equal Housing Opportunity.
Get your Foreign National Eligibility Summary.
Send us the property and your country of residence — we return a full foreign national eligibility PDF: LTV tier, documentation checklist, rate range, and estimated closing costs.
- LTV eligibility (up to 75%, 80% select cases)
- Country-specific documentation checklist
- Rate range and closing cost estimate
- LLC vesting & reserve requirements
Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Formal pricing, LTV, and terms are issued only after credit review, income/asset documentation, and full underwriting.
Get your personalized investor loan quote
Pick the loan type that fits your deal and complete a short, tailored pre-qualification. A licensed loan officer follows up with an initial scenario review once we have your credit authorization and supporting documents — usually the same business day. Formal pricing and terms follow underwriting.
Pick a loan type
You can change this any time.Tell us about your scenario
The form below is tailored to DSCR rental loan — only the questions your program needs.