Foreign National Mortgage Guide
Last updated: 2026-03-07 | For: Engineers, Spouses
You do not need US citizenship to buy a home. H-1B and L-1 visa holders can legally obtain a mortgage. But the rules are different, the thresholds are higher, and the options are fewer. This guide covers everything you need to know.
Can I Get a Mortgage?
Yes. The following visa types can legally apply for a US mortgage:
- H-1B — The most common visa type for semiconductor engineers. Accepted by most lenders.
- L-1 — Intracompany transfer visa. Treated the same as H-1B.
- E-2 — Investor visa. Accepted by some lenders.
- EAD (Employment Authorization Document) — Spouse EAD holders can serve as co-borrowers.
The question is not whether you can — it is what the terms will be. Compared to US citizens, you will need a larger down payment, a higher credit score, and you will likely pay a higher interest rate.
FHA Loan Elimination — The Biggest Change
This is the single most impactful policy change for foreign national homebuyers.
What Happened
- Before (pre-May 2025): H-1B holders could apply for FHA loans with just 3.5% down. A $500K home required only $17,500.
- After (May 2025): Executive order "Ending Taxpayer Subsidization of Open Borders" eliminated FHA eligibility for visa holders.
- Impact: Minimum down payment jumped from 3.5% to 15-25%. The same $500K home now requires $75,000-$125,000 in cash.
Available Loan Programs
| Loan Type | Down Payment | Credit Score | Notes |
|---|---|---|---|
| Conventional | 15-20% | 700+ | Best rates. Requires 3+ years of work history and 6-12 months of liquid asset reserves. Fannie Mae / Freddie Mac underwritten. |
| Portfolio Loans | 10-15% | 680-700 | Bank-held. Shorter work history required (2-3 years). Rates 0.5-1.0% higher than conventional. |
| Bank Statement Loans | 20-25% | 680+ | Non-QM. Uses bank statements instead of traditional income verification. Rates 1.0-1.75% higher than conventional. |
| Foreign National Loans | 25-35% | International credit report | No US credit history required. Uses Taiwan credit report. Highest rates but lowest barriers. |
Most semiconductor engineers reach a 680-700 credit score within 6-12 months of arrival, qualifying for Conventional or Portfolio loans.
Credit Score Requirements
Your Taiwan credit history does not exist in the US system. You start from zero.
- 620-680 — Minimum threshold for most lenders
- 700+ — Threshold for the best interest rates
- Build time — You need at least 6 months of US credit history to generate a usable score
- 12-month history — Most lenders prefer 12+ months of credit history
If your score is not high enough, some specialty foreign national lenders accept International Credit Reports (ICR) from Taiwan as a substitute. But interest rates will be higher.
Recommendation: Start building credit immediately upon arrival (secured credit card, regular small purchases, pay in full monthly). See Phase 2: Credit Building Guide.
Wiring Your Down Payment from Taiwan
Moving money from Taiwan to the US requires advance planning:
Key Facts
- Taiwan Central Bank limit: Individuals can wire up to $5 million USD per year without special approval
- Transfer time: International wire transfers typically arrive in 3-5 business days
- Seasoning: Title companies require down payment funds to be "seasoned" in your account for at least 60 days
- Anti-money-laundering: US banks will verify the source of large deposits (pay stubs, savings statements, real estate sale records needed)
- Exchange rate risk: For large transfers, consider FX brokers — they typically offer better rates than banks
Key Lenders
Not all banks do foreign national mortgages. These are known to accept H-1B/L-1 applications:
Major Banks
Chase, Bank of America, Wells Fargo — conventional loans with dedicated H-1B processes
Online Lenders
LoanDepot, Better.com — visa holder programs with faster processing
Specialty Foreign National Lenders
HomeAbroad, America Mortgages (Dallas-based, specializes in Taiwanese buyers), CrossCountry Mortgage, Leader Bank, New Omni Bank
For a detailed comparison, see the Lender Directory.
Application Timeline
If you plan to buy 9-12 months after arrival, here is the recommended timeline:
Month 1: Start building credit
Open a bank account, apply for a secured credit card, set up autopay.
Month 6: Pre-qualification
Contact 2-3 lenders and get pre-qualification letters. Understand your budget range.
Month 7-8: House hunting
Start viewing homes with your pre-qualification letter. Work with a real estate agent.
Month 8-9: Offer / contract
Submit offer, negotiate, sign purchase agreement.
Month 9-10: Underwriting / closing
Underwriting review, home inspection, title search, closing.
Document Checklist
Foreign national mortgage applications require more documentation than US citizen applications:
- Passport (valid for at least 6 months)
- Visa (H-1B/L-1 approval notice I-797)
- I-94 arrival record
- SSN (Social Security Number)
- Employment letter (salary, title, tenure)
- Last 2 months of pay stubs
- Last 2 years of tax returns (W-2; explanation letter if newly arrived)
- Last 2 months of all bank statements (US and Taiwan)
- Source of funds letter for down payment
- International credit report (if applicable)
Red Flags to Watch For
- Claims to do "foreign national loans" but actually requires a green card — Confirm on the first call that they genuinely accept H-1B applicants.
- Unusually high fees — A normal origination fee is 0.5-1.0%. If it exceeds 2%, ask why.
- Rate lock traps — Confirm the rate lock period and conditions. Some lenders "reprice" before closing.
- Pressure to sign quickly — You have the right to take time and read every document. Do not sign anything you do not understand because of time pressure.