Complete Guide to Foreign National Mortgages in Florida (2026)

Can Foreign Nationals Get a Mortgage in Florida?

Yes — foreign nationals can absolutely obtain a mortgage to purchase property in Florida. The state is one of the most active real estate markets for international buyers in the United States, with Miami, Fort Lauderdale, Orlando, and Palm Beach attracting buyers from over 60 countries every year.

Foreign national mortgages are a specialized loan product offered by select lenders who understand the unique documentation and underwriting requirements for non-US citizens. At Home Financial Group, we have been closing foreign national loans for over 20 years and work with lenders across all buyer profiles.

Unlike what many people believe, you do not need a Green Card, a Social Security Number, or even a US visa to qualify for a Florida mortgage. There are dedicated programs for every type of international buyer — from tourists purchasing vacation homes to work visa holders buying primary residences.

Who Qualifies for a Foreign National Mortgage?

Eligibility depends primarily on your visa status, country of origin, and financial profile. Here is a general breakdown:

• B1/B2 Tourist Visa holders — Can buy as a pure foreign investor with no US credit history required. Typically 30% down payment. This is the most common program for Latin American buyers.
• H1B / L1 / TN Work Visa holders — Stronger qualification profile; may qualify for conventional financing with as little as 20–25% down if US credit history exists. TN visas are available to Canadian and Mexican citizens under USMCA.
• E2 / EB-5 Investor Visa holders — Can structure purchases through US LLCs; business purpose loans available. EB-5 holders may qualify for conventional programs since they are permanent residents.
• ITIN holders — Tax identification number is accepted in place of SSN by specific lenders; ITIN mortgage programs exist with as little as 25% down.
• No visa / Tourist entry (ESTA) — Foreign nationals from visa waiver countries like UK, Germany, France, and Spain can purchase with 25% down through no-visa programs.

Not sure which program fits your situation? Use our free pre-qualification tool to get an instant assessment of your eligibility.

Down Payment Requirements by Country

Down payment requirements vary by country of origin, visa type, and property type. General ranges for 2026:

• Canada, UK, Germany, France, Spain, Italy, Netherlands, Switzerland — 25% down
• Mexico, Brazil, Colombia, Argentina, Ecuador, Peru, Chile, Uruguay — 30% down
• Paraguay, Bolivia — 30–35% down
• Venezuela — 30–35% down (additional OFAC compliance documentation required)
• Condominiums — Add 5% to the base down payment
• Multi-unit properties (2–4 units) — Add 10% to the base down payment

For a detailed breakdown including tips to minimize your down payment, read our article on down payment requirements by country. You can also use our free mortgage calculator to estimate your exact down payment and monthly payments.

Required Documents

Foreign national mortgages require more documentation than domestic loans because the lender must verify your identity, income, and creditworthiness using foreign records. You should plan to provide:

• Valid passport — Primary government-issued ID; must be valid for at least 6 months beyond closing
• Visa documentation — Current and valid (if applicable)
• Foreign bank reference letters — 2–3 letters from established banks confirming account history, balances, and good standing for 2+ years
• Bank statements — Last 12–24 months showing asset balances and regular deposits
• Proof of income — Employment letter on company letterhead, last 2 years of tax returns from your home country, or business financials if self-employed
• Foreign credit report or reference letter — From a bank or credit bureau certifying payment history on loans and credit cards
• CPA letter — Required for self-employed buyers, confirming business existence and income
• Source of funds documentation — Paper trail showing where the down payment funds originated (salary, business income, property sale, inheritance)
• Country-specific documents — CPF for Brazilians, CUIT for Argentinians, RUT for Chileans, INE for Mexicans, DNI for Peruvians, etc.

Every country has unique documentation nuances. Use our AI-powered document checklist to get a personalized list based on your country, visa type, and employment situation.

The Mortgage Process — Step by Step

1. Pre-Qualification (Day 1) — Understand your buying power before searching for properties. Our pre-qualification tool gives you a color-coded assessment in minutes. This step determines your approximate loan amount, down payment requirement, and which loan programs you qualify for.
2. Property Selection (Weeks 1–4) — Work with a real estate agent familiar with international buyers. We partner with realtors across Miami-Dade, Broward, and Palm Beach counties who specialize in foreign national transactions.
3. Loan Application (Week 4–5) — Submit your documentation package. We handle lender submission and underwriting communication. At this stage, you will also select your ownership structure (personal name, LLC, or trust).
4. Underwriting Review (Weeks 5–8) — The lender reviews your file in detail. For foreign nationals, this typically takes 21–30 days. The underwriter may request additional documentation — this is normal and expected.
5. Appraisal & Title (Weeks 6–8) — The property is appraised by a licensed Florida appraiser. A title search is conducted to ensure clear ownership. Foreign buyers can choose ownership in their personal name, US LLC, or land trust.
6. Closing (Week 8–10) — Sign closing documents. This can be done in person at a Florida title company or remotely via Power of Attorney (POA). Funds are wired from your account to the title company's escrow. Keys are delivered upon recording.

The entire process typically takes 45–60 days from application to closing, though well-prepared buyers with complete documentation can close in as few as 21 days.

Costs to Budget For

Beyond the down payment, plan for these additional costs:

• Closing costs — Typically 2–3% of the purchase price, including title insurance, lender origination fees, recording fees, and attorney fees
• Reserves — Lenders require 12 months of mortgage payments (PITI: principal, interest, taxes, insurance) held in reserve in an accessible account after closing
• Property taxes — Approximately 1–1.5% of purchase price annually in Florida, paid semi-annually or through escrow
• Homeowner's insurance — Required by all lenders; Florida rates are higher than national average due to hurricane exposure. Budget $3,000–$8,000 annually depending on property value and location
• HOA fees — Many condominiums and planned communities charge monthly HOA fees ranging from $200–$1,500+
• Flood insurance — Required if the property is in a FEMA-designated flood zone (common in South Florida coastal areas)

For a $500,000 property with 30% down, expect to need approximately $195,000–$200,000 in total liquid assets at closing (down payment + closing costs + reserves). Read our article on common mistakes foreign buyers make to avoid underestimating these costs.

Ownership Structures

Foreign nationals can hold Florida property in several ownership structures, each with different legal and tax implications:

• Personal name — Simplest approach; title held individually or jointly with spouse
• US LLC — Provides liability protection and potential privacy; commonly used for investment properties. Some countries have specific LLC equivalents (SCI in France, GmbH in Germany, BV in the Netherlands)
• Land trust — Provides privacy; a trustee holds title on your behalf while you maintain control as beneficiary
• Foreign corporation — Possible but may trigger FIRPTA withholding on sale and additional reporting requirements

Your choice of ownership structure affects your tax obligations, estate planning, and liability exposure. We recommend consulting with a US tax attorney who specializes in foreign national real estate transactions.

Why Florida?

Florida offers international buyers a combination of factors unmatched in the US:

• No state income tax — Florida is one of only 9 states with no individual income tax, making it attractive for investors and primary residents alike
• Strong rental demand — Tourism-driven rental market with high occupancy rates, especially in Miami Beach, Fort Lauderdale, and Orlando
• Year-round climate — Subtropical weather ideal for vacation homes and snowbird lifestyles
• Proximity to Latin America and Europe — Miami International Airport offers direct flights to virtually every major Latin American and European city
• Diverse, multilingual community — South Florida is home to large communities from Brazil, Colombia, Venezuela, Argentina, Mexico, and many European countries
• Appreciation potential — Property values have appreciated significantly over the past decade, making Florida real estate both a lifestyle and investment decision

Tax Considerations for Foreign Owners

Foreign nationals who own Florida property should be aware of these tax obligations:

• Property taxes — Paid annually to the county; non-homestead properties do not receive the homestead exemption
• Rental income tax — If you rent your property, the IRS requires you to report and pay tax on rental income. Filing a US tax return (using ITIN) can reduce the effective tax rate
• FIRPTA withholding — When a foreign national sells US real property, the buyer is required to withhold 15% of the gross sales price and remit it to the IRS. This can be reduced or refunded through proper tax filings
• Estate tax — Foreign nationals have a much smaller US estate tax exemption ($60,000) compared to US citizens ($13.61M in 2026). Proper ownership structuring can mitigate this risk

Ready to Begin?

Medardo F. Cevallos (NMLS# 305965) has been helping foreign nationals purchase property in Florida for over 20 years. He is bilingual (English and Spanish) and works with buyers from all 60+ countries we serve.

Start with our free pre-qualification estimator to understand your eligibility, use our mortgage calculator to model your costs, or contact us directly to discuss your situation. We are here to guide you through every step of the process.