Can a foreign national get a loan to purchase a home?  Foreign nationals who primarily have income, employment, credit, and residency in a country other than the US, can get a home loan to purchase a second home or vacation home.  There are bank foreign national programs for citizens of other countries who periodically visit the United States and are purchasing homes in which to reside during their visits.  Most of these programs require a minimum of 25% down payment along with several months' reserves. 
 

The basic guidelines of these programs are:

1.     A copy of the Borrower's passport and visa must be obtained to verify eligibility.(Tourist Visa OK)

2.     Income and employment verified with tax returns and/or accountant letter, and proof of business registration.

3.     Assets verified with banking reference letter and 3 months statements(home country assets allowed).

4.     Two(2) Letters of Credit from US or home country are required

5.     Investment properties are not allowed

The number of lenders that still offer Foreign National loans have steadily decreased in the last few years.   If you are a Foreign National, you still have some options as long as you can put down a large down payment and have substantial reserves.  Talk with a knowledgeable loan professional in your area who can guide you through the process.