Foreign national loans are mortgage loans designed for non-U.S. citizens or non-residents who wish to purchase property in the United States. These loans cater to individuals who do not have a U.S. credit history, Social Security number, or permanent residency status (e.g., green card), making it difficult to qualify for conventional U.S. mortgage loans. They are typically offered by private lenders, portfolio lenders, or specialized mortgage companies and are considered non-qualified mortgages (non-QM) because they don’t meet standard underwriting guidelines set by government-backed entities like Fannie Mae or Freddie Mac.
