Not a U.S. Citizen? Not a Problem.

In recent years, cash has dominated U.S. real estate purchases by foreign nationals. According to NAR’s 2013 Profile of International Home Buying Activity, agents reported that 63 percent of their international transactions were conducted without financing.

Is that because foreign buyers prefer a cash purchase, or do they feel locked out of the U.S. mortgage market? If the latter, agents may be able to help more global buyers reach the closing table by identifying lenders ready and willing to meet their buyers’ needs.

This issue of Global Perspectives looks at the foreign national mortgage market for U.S. properties from an agent’s point of view. It turns out there are lenders and products that meet many different needs, and more are on the way. They are not, however, always easy to find.

Credit history has been a big hurdle for foreign nationals who want to finance a U.S. home but do not have a borrowing record in the states. Depending on the buyer’s situation and resources, this is less of a problem today than in the past. Lenders are now able to work around the absence of a credit history and scores.

Read on to learn more about lending programs for overseas buyers and ways to find the right mortgage for your foreign clients.

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

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About Global Perspectives

Global Perspectives in Real Estate is a resource for global professionals, aimed at helping them globalize their local markets. Produced bi-monthly, this newsletter serves as a how-to guide and is full of useful and actionable tips. A free subscription is given to all Certified International Property Specialists (CIPS) designees.

Learn more about earning the CIPS designation