One of the questions I get most: “I live in Brazil — can I finance a home in Miami?” The answer is yes. There are credit lines designed for international buyers, the foreign national loans, offered by American banks. The terms differ from those for a resident — here’s what matters.
How the foreign national loan works
It’s a mortgage designed for those without U.S. residency, citizenship, or credit history. The bank underwrites the deal based on the property value, your proven ability to pay, and the down payment percentage. Generally, the down payment required from foreigners is higher than for residents — which also lowers the bank’s risk on the deal.
Documents the bank usually asks for
- Valid passport and, in some cases, a U.S. visa;
- Proof of income (from Brazil or other countries);
- Recent bank statements;
- Proof of address in your home country;
- Bank references and, when applicable, an income tax return.
Each institution has its own list, but organizing these documents in advance speeds up — greatly — the underwriting.
The role of the ITIN and credit
Without an American credit history (credit score), the bank uses other criteria to evaluate you. Having an ITIN — the American tax number — helps create a formal footprint in the country and is required at several stages of the purchase and financing process.
Pre-approval: negotiate from strength
Before making offers, get a pre-approval (pre-approval): a letter from the bank stating how much it is willing to finance for you. Sellers take pre-approved offers far more seriously — in competitive markets, this can be the difference between closing the deal or losing the property.
Cash vs. financed: how to decide
It’s not just about having the money: financing can make sense to preserve liquidity, diversify investments, or leverage appreciation on a smaller capital base. On the other hand, cash offers usually carry more negotiating power. The right decision depends on your profile — and it’s worth modeling both scenarios with real numbers.