The short answer is yes! Foreign nationals can obtain mortgage financing in the United States with a thin or no U.S. credit history.

If you are a non-U.S. citizen with no credit history in the United States, it may appear as though you will be unable to obtain financing for your property as a U.S. newcomer. However, mortgage lenders in the United States—such as Premium Mortgage Corporation—provide mortgage financing to foreign nationals with no prior credit history, and at competitive rates.

Whether you’re a U.S. born citizen or a foreign national, we also offer a wide variety of loan options, so that you can choose the best one for your needs.

The Process to Obtain Foreign National Mortgage Loans in the United States

Per, How to Obtain a U.S. Mortgage for Foreign Nationals with No U.S. Credit (HomeAbroad, Sept. 24, 2021), follow these important steps:

  1. Estimate your budget and determine what you can afford. Consider your mortgage principal and interest, property taxes, homeowners insurance, etc.
  2. Obtain a mortgage pre-approval for your foreign national mortgage. Work with a foreign national mortgage expert lender such as Premium Mortgage Corporation to obtain your pre-approval letter.
  3. Prepare your documents for a foreign national mortgage loan, such as identity and income documents. Your lender might order an international credit report for your foreign national mortgage loan.
  4. Shop for the right property and make an offer on it.
  5. Finalize your foreign national mortgage application with the lender once your offer is accepted.
  6. Lock the interest rate on your mortgage loan.
  7. Wait for processing and underwriting to be completed on your mortgage.
  8. Conduct a property appraisal.
  9. Prepare for closing.
  10. Open a U.S. bank account as a foreign national to manage your mortgage payments for the property.

For all your credit history questions or to begin the mortgage application process, click the link and reach out today!

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