Both finance buyers without a Social Security number. A foreign national loan is for people who live abroad; an ITIN loan is for people who live and pay taxes in the United States.
Side by side
| Foreign national loan | ITIN loan | |
|---|---|---|
| Who it serves | Buyers who live outside the U.S. | U.S. residents who file taxes with an ITIN |
| Identity | Passport, and a visa for some programs | ITIN letter and government ID |
| Income | Foreign income or assets, or the property’s rent | U.S. tax returns or bank statements |
| Credit | Often no U.S. credit needed; foreign references may count | U.S. credit, or alternative credit such as rent and utility history |
| Property | Usually a second home or investment property | Often a primary home, and some programs allow investment property |
When a foreign national loan fits
- You live outside the U.S.
- You’re buying a vacation home or rental here.
- Your income and assets are abroad.
When an ITIN loan fits
- You live in the U.S. and file taxes with an ITIN.
- You want to buy a home to live in.
- You have U.S. income and some credit history.
Guides and calculators
Questions
Does FHA allow ITIN borrowers?
No. FHA, VA and USDA loans require a Social Security number, and most conventional lenders do too, so ITIN borrowers usually use specialty ITIN programs.
Can foreign nationals buy property in Florida?
Generally, yes. A 2023 Florida law restricts buyers connected to certain countries near military sites and critical infrastructure, so check with a Florida real estate attorney if it might apply to you. See also: Foreign national & ITIN loans.
Can you use foreign income to qualify for a mortgage?
Yes, with a foreign national program, usually with an accountant’s letter or bank records. Many investors skip income entirely and qualify on the property’s rent.
