Mortgages for Venezuelans in Florida 2026 — Complete Guide

Can Venezuelans Get a Mortgage in Florida?

Yes — and we do it regularly. Venezuelans are one of the most active homebuying communities in South Florida, particularly across Miami-Dade, Broward, and Palm Beach counties. Whether you hold TPS (Temporary Protected Status), have an ITIN, are a naturalized US citizen, or are a non-resident foreign national buyer, there are mortgage programs designed for your situation.

This guide covers everything you need to know in 2026: which programs are available, how much down payment is required, what documents you'll need, how OFAC compliance is handled, and how to start the process with Home Financial Group LLC in Oakland Park, Florida.

Visit our Venezuela mortgage page for a summary of available programs.

The Venezuelan Community in Florida — The Landscape

Recent estimates place more than 400,000 Venezuelans in Florida, with the largest concentration in South Florida. This community includes:

• Holders of Venezuela-designated TPS (with active work authorization)
• Residents with work visas such as H-1B, L-1, or E-2
• Permanent residents (green card holders)
• Naturalized US citizens of Venezuelan origin
• Non-resident foreign national buyers purchasing investment properties
• Venezuelans with ITINs who have been paying US taxes for years

Each category has access to different types of mortgage financing, with different down payment, documentation, and credit history requirements.

Temporary Protected Status (TPS) — Can You Qualify for a Mortgage?

This is one of the most frequently asked questions we receive. The short answer: yes, TPS holders can qualify for a mortgage — including conventional and government-backed (FHA) loans — as long as they meet credit, income, and employment requirements.

TPS Mortgage Requirements

• Active Employment Authorization Document (EAD): You must have an active EAD. Some lenders require the EAD expiration date to be at least 12 months beyond the closing date, though many accept EADs under renewal.
• Social Security Number: TPS holders receive a valid SSN for work purposes, allowing access to conventional and FHA loans — an ITIN loan is not necessary.
• US credit history: Minimum 620 for conventional loans, 580 for FHA (with 3.5% down).
• 2-year employment history: Job changes within the same field are acceptable.
• Minimum down payment: 3.5% with FHA, 5–20% with conventional.

Political uncertainty around the continuation of Venezuelan TPS has understandably created anxiety in the community. However, from a mortgage standpoint, what matters is your current status at the time of closing, not future projections about the program. Lenders evaluate TPS like any other temporary work visa.

ITIN Mortgages for Venezuelans Without an SSN

If you are in the US without immigration status that qualifies you for a Social Security Number, but you have been paying taxes using an ITIN (Individual Taxpayer Identification Number), you can access specialized mortgage programs.

ITIN loans are offered by portfolio lenders, credit unions, and CDFIs that understand the profile of borrowers without conventional immigration documents. For more details, visit our ITIN Loan Program page.

Typical ITIN Program Requirements for Venezuelans

• Active ITIN: Must be current and have been used to file US tax returns for at least 1–2 years.
• 25–30% down payment: ITIN programs generally require a larger down payment than conventional loans.
• Alternative credit accepted: If you have no US credit history, many lenders accept alternative credit — rent receipts, utility bills, auto insurance, cell phone — with 12–24 months of documented on-time payments.
• Documented income: W-2s, tax returns, 12–24 months of bank statements (for self-employed), or an employment letter.
• Account reserves: Typically 6–12 months of mortgage payments in liquid reserves.

Venezuelans as Non-Resident Foreign National Buyers

If you live in Venezuela or another country and want to purchase Florida property as an investment — without residing in the US — you qualify for a Foreign National program.

Florida is an extremely popular destination for Venezuelan real estate investment, and many families have structured the purchase of a Miami, Fort Lauderdale, or Orlando property as wealth protection outside Venezuela.

Requirements for Venezuelan Foreign National Buyers

• Valid Venezuelan passport: With at least 6 months of validity beyond the expected closing date.
• 30–35% down payment: Foreign national programs require a larger down payment.
• Foreign bank references: Letters from 2–3 banks in Venezuela or another country where you hold accounts, showing at least a 2-year banking relationship.
• Foreign income documentation: Employment letter or business financials, home country tax returns (if applicable).
• No US credit requirement: Foreign bank references replace the American credit score.

OFAC Compliance — The Critical Factor for Venezuelans

This is a topic that cannot be ignored. OFAC (Office of Foreign Assets Control) at the US Treasury administers economic sanctions against Venezuela, specifically Executive Order 13884 and regulations related to the Venezuelan government, PDVSA, and affiliated entities.

This does not mean all Venezuelans are sanctioned — the sanctions target the Maduro regime, corrupt officials, government entities, and associated companies, not the general population.

How Does OFAC Affect the Mortgage Process?

• Name verification: All US lenders are required to check the borrower's name against the OFAC SDN (Specially Designated Nationals) list before closing any financial transaction.
• Source of funds: Lenders and title companies scrutinize the origin of down payment money. Funds originating from sanctioned entities or from Venezuela through certain channels may trigger flags in the system.
• Full transparency: You must be able to clearly document where your down payment funds come from — whether from US accounts, international transfers from non-sanctioned countries, asset sales, etc.
• Intermediary bank accounts: If money moved from Venezuela to another country (Colombia, Panama, Spain, Miami) before reaching the US, be prepared to document the full chain of transfers.

At Home Financial Group, we have experience working with Venezuelan buyers and understand how to properly present source-of-funds documentation to satisfy compliance requirements without blocking the closing. Call us at (954) 663-3619 for a confidential consultation.

The Bolívar and Currency Restrictions

The collapse of the bolívar and Venezuela's currency control restrictions create unique challenges for Venezuelan buyers:

• Exchange rate: Bolívar-denominated funds have virtually no value for a US real estate purchase. Lenders and title companies only accept US dollars.
• Transfer restrictions: Direct transfers from Venezuelan banks to the US are extremely difficult due to sanctions and Venezuela's own currency control policies.
• Offshore funds: Most successful Venezuelan buyers already have their funds in accounts outside Venezuela — in Spain, Colombia, Panama, Miami, or the continental US — and the wire transfer for the down payment comes from those accounts.
• Cryptocurrency: Some Venezuelan buyers hold assets in cryptocurrency. If you want to use crypto for the down payment, consult with us — some lenders accept crypto statements as proof of assets, but there are specific seasoning (fund aging) requirements.

The key message: having your funds outside Venezuela well in advance is essential. Financial planning ahead of time can be the difference between being able to close or not.

Required Documents — Complete List for Venezuelans

The exact documentation varies by immigration status, but generally you will need:

Identity and Immigration Status

• Venezuelan passport (or passport from any country where you have obtained citizenship)
• EAD (employment authorization card) if you have TPS or a work visa
• Green card if you are a permanent resident
• ITIN letter from the IRS if applicable
• SSN card if you have a social security number

Income and Employment

• Last 2 years of tax returns (W-2 or 1040 with all schedules)
• Last 30 days of pay stubs
• Employment letter on company letterhead with title, salary, and start date
• If self-employed: business financial statements, business license, CPA letter
• For non-resident foreign nationals: home country tax returns or financial statements, foreign employment letter

Assets and Source of Funds

• Bank statements for the last 2–3 months from all accounts
• For large deposits: explanation letter and documentation of origin (property sale, family transfer, etc.)
• Foreign bank references if applicable
• Documentation of international wire transfers (SWIFT confirmations, remittance receipts)
• If holding cryptocurrency: screenshots or statements from the platform

Credit

• If you have a US credit score: the lender pulls it directly with your permission
• If using alternative credit: 12–24 months of rent receipts, utility bills, insurance payments, etc.
• Landlord reference letters if applicable

Down Payment and Reserves — How Much Do You Need?

The down payment amount depends on your program:

• TPS with FHA: Minimum 3.5% of the purchase price (with 580+ score)
• TPS with conventional loan: Starting from 5% (with strong credit), typically 10–20%
• ITIN program: 25–30% of the purchase price
• Non-resident foreign national: 30–35% of the purchase price

In addition to the down payment, you will need:

• Closing costs: Approximately 2–3% of the loan amount (origination, title, insurance, appraisal, transfer taxes)
• Reserves: Typically 6–12 months of mortgage payments in account after closing

For example: purchasing a $400,000 home as a non-resident foreign national requires approximately $120,000–140,000 in down payment, plus $10,000–15,000 in closing costs, plus reserves. Planning ahead is essential.

See our down payment guide for a detailed comparison across programs.

Step-by-Step Process

1. Initial consultation: Call Home Financial Group at (954) 663-3619 or visit global.homefg.com. We evaluate your immigration status, income, credit, and available funds.
2. Documentation: We collect all necessary documents based on your situation. We guide you on exactly what is needed to avoid delays.
3. Pre-approval: With your documents in hand, we prepare a pre-approval letter. For ITIN and foreign national programs, this may take 3–5 additional business days compared to a conventional loan.
4. Property search: With your pre-approval, you work with your real estate agent to find the right property. We can recommend agents with experience in the Venezuelan community.
5. Offer and contract: Once the seller accepts your offer, we sign the purchase agreement and the formal loan process begins.
6. Processing and OFAC compliance: Our team handles OFAC verification, source-of-funds review, and all compliance documentation.
7. Appraisal: An independent appraiser certifies the property's value.
8. Final approval (clear to close): The lender issues final approval. At this point, closing is imminent.
9. Closing: We sign all documents before a notary or title agent. Funds are transferred and you receive the keys.

The total time from pre-approval to closing is typically 30–60 days, though non-resident foreign national programs may take 45–75 days.

Why Work With Home Financial Group

At Home Financial Group LLC, headquartered in Oakland Park, Florida, we understand the Venezuelan community because we are part of South Florida — a region that has welcomed hundreds of thousands of Venezuelans over the last two decades.

• Experience with TPS, ITIN, and foreign national programs
• Practical knowledge of OFAC compliance for Venezuelan buyers
• Spanish-language service
• Access to multiple lenders with different approval criteria
• No pressure — we explain all your options and you decide

Medardo F. Cevallos, NMLS# 305965
Home Financial Group LLC, NMLS# 305389
Oakland Park, FL
(954) 663-3619 | global.homefg.com

Visit our country page for more information: Mortgages for Venezuelans in Florida.