Foreign national loans are a type of mortgage loan that is designed specifically for non-U.S. citizens who are interested in purchasing property within the United States. These loans differ from traditional U.S. mortgage loans in several key ways. Firstly, foreign national loans often require higher down payments and interest rates, as lenders view non-U.S. citizens as a higher risk.
Additionally, foreign national loans typically have stricter eligibility requirements and may require a larger amount of documentation to prove income and assets. Overall, foreign national loan provide an opportunity for non-U.S. citizens to invest in U.S. real estate, but they require careful consideration and planning due to their unique characteristics.