Can a foreign national get a DSCR loan in the US?

THE NUMBERS

ILLUSTRATIVE — published program floors, not a quote or a commitment to lend. Subject to underwriting, appraisal and final credit approval.

Do you need a Social Security number or an ITIN?

Neither is required for a DSCR loan. A valid unexpired passport is the primary identification, with a visa where the borrower holds one. An ITIN helps — it makes tax reporting and, later, refinancing simpler — but it is not a condition of approval. What matters more is that the borrowing entity is properly formed and that the identity documents match the entity records exactly.

Does the property have to be held in an entity?

Yes. Every Silt loan closes in an LLC or corporation, never a personal name, and that applies to foreign nationals as well. A US LLC can be formed and funded by a non-resident member; forming it during underwriting does not delay pricing. Whether that entity should be single-member, multi-member, or owned by an offshore holding company is a tax question — confirm the structure with your CPA and attorney before the operating agreement is signed.

What does it cost compared with a US borrower?

Two things change on the sheet. Leverage is capped at 70% LTV, so plan on 30% down plus closing costs. Pricing carries a 75 basis point add-on over the same FICO and LTV cell a US borrower would price at — and with no US FICO, the file is placed in a band by the underwriter using international credit references and the strength of the deal. Everything else — the DSCR test, the prepay menu, reserves — works identically.

What credit and banking do you need?

An international credit report where the home country produces one, or two to three reference letters from institutions the borrower banks with, showing account history and standing. A US bank account is expected for reserves and for the ongoing payment; opening it is often the longest lead item on the file, so start it first. Reserves are six months of PITIA on a single property, twelve months on a portfolio, seasoned and verifiable.

What about FIRPTA and US taxes?

FIRPTA is a withholding rule that applies when a foreign person sells US real property — up to 15% of the gross sale price can be withheld at closing and credited against the actual tax owed. It does not affect your ability to borrow, but it changes exit maths and is one reason ownership structure is worth planning early. Rental income is generally reportable in the US as well. This is not tax advice: confirm both points with your CPA before you buy.

Can you close without flying to the US?

Usually. Remote online notarisation is accepted in many states and refused in others, and some documents may need wet signatures notarised at a US consulate or authenticated with an apostille under the Hague Convention. Practice varies by state and by title company, so the closing method is confirmed once the property state and title agent are known — before documents are drawn, not after. Build a few extra days into the timeline for courier and authentication steps.

A worked example — purchase at 70% LTV

At 1.15 the DSCR credit is lost and the 1.00–1.19 band adds 25 bps instead — a 0.375% swing from the line above. Reserves at this payment are about $15,600. Illustrative only, not a quote.

WHAT WE NEED FROM YOU

• Valid passport. Plus a visa where one is held; names must match the entity records.
• US entity documents. Articles, operating agreement and EIN letter.
• International credit report or reference letters. Two to three banking references where no report exists.
• US bank account. For reserves and the ongoing payment — start this early.
• Proof of funds to close. Source and seasoning of the down payment.
• Lease or market rent evidence. The appraiser's rent schedule covers a vacant unit.

FREQUENT QUESTIONS

Do I need US credit history?

No. An international credit report or two to three banking reference letters is the usual substitute where no US file exists.

How much do I have to put down?

Plan on 30% plus closing costs — foreign-national files are capped at 70% LTV on the current sheet.

Can I borrow in my own name?

No. Title and the note sit in an LLC or corporation on every Silt loan, foreign national or not.

Will I be taxed when I sell?

FIRPTA withholding of up to 15% of the sale price commonly applies to foreign sellers and is credited against the tax due. Confirm with your CPA.

Do I have to travel to the US to close?

Often not. Remote notarisation, consular notarisation or an apostille can work, but availability varies by state and title company.

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