Can foreign nationals get a mortgage in Miami?
Short answer: Yes. Lenders with foreign national loan programs finance Miami property, usually with 25% to 30% down and proof of income and reserves, often without a US credit history. In a pre-construction purchase, the mortgage is arranged close to delivery and covers part of the final balance.
Many people think a foreigner has to pay all cash in the US. Not true: international buyers finance property in Miami every day, through what's called a foreign national loan, programs built precisely for non-residents.
How does financing for foreign nationals work?
Foreign national loans follow similar rules at most lenders:
- Down payment: typically 25% to 30% of the property value.
- Proof: income and reserves (statements, accountant letter, etc.).
- US credit: in many cases, US credit history is not required.
Terms vary by lender. Visa or residency status matters only insofar as it affects which financing options are available, never as a criterion of who may or may not buy.
When does financing come into a pre-construction purchase?
Here's the part many people don't know: in pre-construction, the mortgage is arranged near delivery. The deposit installments during construction (reservation, contract, milestones) are paid from your own funds. The mortgage typically covers most of the value, the 60% at closing.
What is the first step?
The best first step is a pre-qualification with a lender who works with international buyers. It's quick, no obligation, and gives you clarity on how much you can finance before you even choose a unit. Lory Minici can refer you to these professionals.
What are the typical terms?
The table sums up the most common terms, which vary by lender:
| Item | Foreign national loan |
|---|---|
| Down payment | Usually 25% to 30% (some lenders ask for more) |
| Documentation | Income and reserves (statements, accountant letter) |
| US credit history | Often not required |
| When to apply | Close to delivery, for the closing balance |
| Rate | Above the average for residents; the 30-year benchmark was 7.24% on Oct 29, 2026 (Freddie Mac) |
To run numbers, use the simulator on the home page and see how much a condo costs in Miami.
Frequently asked questions
Do I need a US bank account?
Lenders usually require a US account for monthly payments, which can be opened during the process.
Can I finance during construction?
No. In pre-construction, construction deposits are paid with your own funds; the mortgage comes in close to delivery.
Is the rate fixed?
There are fixed and adjustable options. Final terms depend on the lender and the buyer's profile at the time of the loan.
Sources: Freddie Mac PMMS; checked October 2026.
Want a no-obligation pre-qualification?
Lory Minici refers you to lenders who work with international buyers and guides you through the process.
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