Buying a home in the United States as a non-resident might seem out of reach—but it’s more accessible than many think. From financing options to legal eligibility, outdated assumptions often get in the way of informed decisions.
Think you can’t buy a home in the U.S. without a credit score or a job here? Think again.
We’re clearing up three common misconceptions that discourage many international buyers from taking the next step.
Myth 1: You need U.S. credit to qualify for a mortgage
It’s true that most traditional U.S. mortgage programs rely heavily on credit scores. However, not all lenders require this. Certain banks—particularly those offering portfolio residential mortgages—evaluate borrowers using foreign income, international banking relationships, and other forms of financial documentation.
Instead of a U.S. credit report, lenders may accept:
- Foreign bank statements
- Proof of income from business or employment abroad
- Asset documentation
- Payment history for rent or utilities
- Letters of reference from financial institutions
Myth 2: You must have a job or income in the United States
Not necessarily. While local income helps, many foreign national mortgage programs allow borrowers to qualify using foreign income or verifiable assets. This is especially common for:
- Self-employed business owners based outside the U.S.
- Investors or retirees with global income sources
- Parents purchasing homes for children studying in the U.S.
Some programs also accept co-borrowers or guarantors who help strengthen the loan application.
Myth 3: Foreign nationals can only buy primary residences
Foreign nationals can typically purchase second homes or investment properties, not just primary residences. This flexibility makes the U.S. real estate market attractive to international buyers seeking long-term rental income or portfolio diversification.
However, different property types may have different lending terms. For example:
- Investment properties may require a larger down payment
- Second homes may have location or occupancy restrictions
- Some lenders require properties to be held in the buyer’s personal name
Working with a lender experienced in foreign national lending can help you structure your purchase correctly.
What’s the difference between a primary residence, a second home, and an investment property?
- Primary residences: A home you plan to live in as your main dwelling
- Second homes: A vacation or part-time home, typically for personal use
- Investment properties: A home purchased to rent out or hold as a financial asset
Foreign nationals can typically purchase second homes or investment properties, not just primary residences. This flexibility makes the U.S. real estate market attractive to international buyers seeking long-term rental income or portfolio diversification.
However, different property types may have different lending terms. For example:
- Investment properties may require a larger down payment
- Second homes may have location or occupancy restrictions
- Some lenders require properties to be held in the buyer’s personal name
Working with a lender experienced in foreign national lending can help you structure your purchase correctly.
What’s the difference between a primary residence, a second home, and an investment property?
- Primary residences: A home you plan to live in as your main dwelling
- Second homes : A vacation or part-time home, typically for personal use
- Investment properties: A home purchased to rent out or hold as a financial asset
Final Thoughts
Buying a home in the U.S. as a foreign national involves unique documentation and underwriting—but it is entirely achievable. By understanding what’s required and working with a lender that supports international borrowers, you can avoid common misconceptions and move forward with clarity.
New Omni Bank has provided foreign national mortgage solutions for over a decade, helping clients across Asia and beyond buy homes in California and build long-term financial confidence.
If you’re exploring U.S. homeownership, our experienced mortgage advisors are here to help. Bilingual support is available in English and Chinese.
This article is for informational purposes only and does not constitute financial, legal, or immigration advice. All lending products are subject to credit and property approval. Eligibility and terms may vary by applicant profile and are subject to change without notice. Please consult qualified professionals regarding your specific personal situation.
