International Buyer’s Guide: How to Buy a Home in Florida Without Living in the USA | Stacy Ann Stephens

International Buyer’s Guide: How to Buy a Home in Florida Without Living in the USA | Stacy Ann Stephens

Licensed Florida Real Estate Broker BK3393979 · Mortgage Broker NMLS #1933745 · Keller Williams Realty Winter Park · realtorstephens@gmail.com

Why Florida?

Florida Is One of the Most Foreign-Friendly Real Estate Markets in the World

Florida places no restrictions on foreign ownership of real estate. Whether you’re investing from Canada, Brazil, the UK, Colombia, Germany, or anywhere else — you have the same legal right to own property as any U.S. citizen.

You don’t need a Green Card, permanent residency, or even a U.S. credit score. With the right team, you can search, finance, and close on a Florida property entirely remotely — without stepping foot on U.S. soil.

What you do need is a specialist who understands both the real estate process and the mortgage side for international buyers. That’s exactly what I do.

Important for buyers from certain countries: Florida’s Senate Bill 264 (2023) imposes restrictions on nationals from China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria purchasing certain property types near military installations or agricultural land. Contact me to confirm eligibility for your specific situation.
“The two most valuable assets a foreign buyer can have are a great agent who knows Florida and a mortgage broker who specializes in international lending — ideally the same person.”
— Stacy Ann Stephens, MBA · Realtor & Mortgage Broker
🌐
Two Professionals in One

One licensed Realtor + Mortgage Broker to guide your full purchase — no coordination gaps.

📍
Central Florida Specialist

Winter Park, Orlando, and surrounding metro — one of the top markets for international investors.

Who This Is For

Which International Buyer Are You?

There are two main pathways for non-U.S. buyers. Understanding which category you fall into determines your mortgage options, required documents, and property types you can purchase.

Foreign National
🌍

You Live Outside the USA

You reside and work in your home country and visit the U.S. occasionally. You hold an eligible visa (B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2) or live in a visa waiver country. You want to purchase investment property in Florida to generate rental income — no U.S. credit score required.

ITIN Holder
🏠

You Live in the USA Without an SSN

You currently reside in the United States and file taxes using an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. You can purchase a primary residence using bank statements or full documentation. Minimum FICO 640 required.

Cash Buyer
💵

You’re Purchasing Cash

Foreign nationals can purchase any Florida property type entirely in cash, with no mortgage, no visa requirements, and no U.S. bank account needed at the outset. Cash purchases typically close in 30 days. You’ll still need ITIN if you plan to generate rental income for tax purposes.

Financing Options

Loan Programs for International Buyers

These are the two main non-QM (non-qualified mortgage) programs available for international buyers purchasing Florida real estate. No conventional bank approval required.

Foreign National Mortgage

For buyers who reside and work outside the United States. No U.S. credit score. No U.S. income documentation. Qualify entirely on the property’s rental cash flow.

70%Max LTV (30% down min)
$1.5MMax Loan Amount
N/ANo Min FICO Required
1:1DSCR Cash Flow Ratio
  • ✓ Purchase, Cash-Out Refi, Rate & Term Refi, Delayed Financing
  • ✓ 5/6 ARM, 7/6 ARM, and 30-Year Fixed options
  • ✓ Investment property only (non-owner occupied)
  • ✓ Close in a U.S. LLC entity — asset protection structure
  • ✓ 12 months reserves — can remain in your home country
  • ✓ Assets sourced & seasoned 60 days; minimum 30 days in U.S. FDIC bank
  • ✓ Eligible visas: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2 + visa waiver countries
  • ✗ Not available in Osceola County
  • ✗ No gift funds permitted
  • ✗ ACH auto-payment required from U.S. FDIC bank

Why DSCR is a Game-Changer for Foreign Buyers

DSCR stands for Debt Service Coverage Ratio. This loan qualifies based on the property’s projected rental income vs. the monthly mortgage payment — not your personal income, job history, or U.S. credit.

A 1:1 DSCR means the rental income equals or exceeds the mortgage payment. This makes approval straightforward for investment properties in Florida’s strong rental market.

Example: Property rents for $3,500/month. Mortgage payment is $3,200/month. DSCR = 1.09 ✓ — qualifies without any personal income documentation.
Loan minimum $100,000. Not available in Osceola County. Foreign national must not reside or work in the U.S. ACH payment setup required at a U.S. FDIC-insured bank.
Apply for Foreign National Loan →

ITIN Mortgage Loan

For borrowers living in the U.S. who use an Individual Taxpayer Identification Number instead of a Social Security number. Full-documentation non-QM loan for primary residences.

80%Max LTV (20% down min)
$750KMax Purchase Loan
640Min FICO Score
50%Max DTI (Purchase)
  • ✓ 12 or 24-month bank statement income options
  • ✓ Full documentation option available
  • ✓ Purchase or Rate & Term up to $750,000
  • ✓ Cash-Out Refi up to $550,000 (75% LTV, 680 FICO)
  • ✓ Primary residences only
  • ✓ 30-year or 15-year fixed terms
  • ✓ Gift funds allowed — up to 50% of down payment
  • ✓ SFR, PUD, Townhomes, Duplexes, Warrantable Condos (<9 stories)
  • ✗ No escrow waivers. No interest-only option.
  • ✗ Max DTI 43% for Cash-Out Refi

What is an ITIN & Do You Need One?

An Individual Taxpayer Identification Number (ITIN) is issued by the IRS to people who have U.S. tax filing obligations but are not eligible for a Social Security number.

Common ITIN holders include undocumented residents, visa holders with tax obligations, and non-resident aliens who earn U.S. income. If you have an ITIN card and live in Florida, you can qualify for a full-doc mortgage to purchase your primary home.

3 months reserves required. No escrow waivers. You can use bank statements (12 or 24 months) or full W-2/tax documentation — whichever best represents your income.
Note: ITIN mortgage is for primary residences only. Cash-out refi requires minimum 680 FICO. Contact Stacy to confirm your current eligibility based on your documentation.
Apply for ITIN Mortgage →
Step-by-Step Process

How to Buy Florida Property From Abroad

Here’s the exact process international buyers follow — from initial consultation to remote closing. You don’t need to be in Florida for any of it.

1

Free Strategy Call With Stacy

We identify your buyer category (Foreign National vs. ITIN), loan eligibility, budget, and property goals. This call takes 30 minutes and costs nothing.

🎯 Start here
2

Mortgage Pre-Qualification

We submit your documentation for a foreign national or ITIN pre-qual. You’ll know your exact budget, LTV, and loan terms before searching for a property.

⏱ Typically 3–5 business days
3

Property Search (Virtual or In-Person)

I’ll send curated property matches meeting your investment criteria. Virtual tours via video call are available. You can also visit Florida in person — a B-2 visa allows property searches.

🏠 Investment-focused selection
4

Open a U.S. Bank Account

Required for Foreign National loans. FDIC-insured bank. Funds must be seasoned 30+ days before closing. I’ll advise on which banks work best for international clients.

🏦 Done early = smooth closing
5

Make an Offer & Negotiate

I draft and submit your purchase offer, negotiate price and terms on your behalf, and manage the inspection and due diligence period remotely.

📝 Remote offer submission available
6

Loan Processing & Appraisal

For financed purchases, we process your loan package including appraisal and title search. Cash purchases skip straight to title and closing — typically 30 days total.

⏱ 45–60 days for financed; 30 for cash
7

Remote Closing via Power of Attorney

You don’t need to travel to Florida to close. A power of attorney allows a designated representative to sign on your behalf at the title company. 100% legal and standard practice.

✈️ No U.S. travel required
8

Property Management & Rental Setup

For investment buyers, I can connect you with local property managers to handle tenant placement, maintenance, and monthly rent collection so you earn passively from abroad.

💰 Earn rental income immediately
Documentation

What Documents Do You Need?

International mortgage documentation is different from conventional loans. Here’s what to prepare.

Foreign National Loan Docs

  • ✓ Valid passport (eligible visa stamp)
  • ✓ U.S. bank account statements (30+ days)
  • ✓ 12 months reserves documentation (can be foreign bank)
  • ✓ Signed lease agreement or rent schedule (DSCR)
  • ✓ ACH bank setup for monthly mortgage payments
  • ✓ No U.S. income docs, no SSN, no U.S. credit required

ITIN Loan Docs

  • ✓ ITIN card (IRS-issued)
  • ✓ 12 or 24 months bank statements or full tax returns
  • ✓ 3 months reserves in U.S. bank
  • ✓ Proof of U.S. residence (utility bills, lease)
  • ✓ Gift letter (if using gift funds — up to 50% of down)
  • ✓ Min 640 FICO credit score required

Key Tax Considerations

  • ! FIRPTA: 15% of sale price withheld when you sell (prepayment of capital gains)
  • ! Annual property taxes ~0.80% in Florida — no homestead exemption for investment property
  • ! ITIN required for rental income tax reporting
  • ✓ Buying property does NOT affect your visa or immigration status
  • ✓ LLC ownership permitted — useful for liability and estate planning
Common Questions

Frequently Asked Questions

Answers to the most common questions international buyers ask about purchasing Florida real estate.

Can a foreign national buy property in Florida without living in the USA? +
Yes. Florida places no restrictions on foreign ownership of real estate. Non-U.S. residents can purchase investment properties, vacation homes, or even primary residences. The entire process — search, offer, financing, and closing — can be completed remotely using a power of attorney. No U.S. residency, Green Card, or citizenship is required.
What is a Foreign National mortgage loan? +
A Foreign National mortgage is designed for borrowers who live and work outside the United States. Eligible visa holders (B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2) and residents of visa waiver countries can qualify. The loan uses a DSCR (Debt Service Coverage Ratio) model — meaning the property’s rental income qualifies the loan, not your personal income or U.S. credit. No Social Security number required.
How much down payment does a foreign national need in Florida? +
The minimum down payment for a Foreign National loan is 30% (maximum 70% LTV). This is higher than conventional U.S. loans, but it’s the trade-off for not needing U.S. credit, income documentation, or a Social Security number. Loan amounts range from $100,000 to $1.5 million.
What is a DSCR loan and why is it ideal for foreign buyers? +
DSCR stands for Debt Service Coverage Ratio. A DSCR loan qualifies you based entirely on the property’s projected rental income — not your personal income or U.S. credit history. A 1:1 ratio means the rent covers the mortgage. For foreign nationals who have no U.S. credit file or can’t document U.S.-source income, this is often the only viable financing path. It’s straightforward, and many Florida investment properties easily hit a 1:1 DSCR in today’s rental market.
What is an ITIN mortgage loan? +
An ITIN (Individual Taxpayer Identification Number) mortgage is for people currently residing in the U.S. who don’t have a Social Security number. If you have an ITIN card and meet the credit and income requirements, you can qualify to buy a primary residence in Florida. The loan allows 12 or 24 months of bank statements as income documentation, gifts of up to 50% of the down payment, and a minimum 640 FICO score. Loans up to $750,000 for purchase.
Do I need a U.S. credit score to buy property in Florida as a foreigner? +
No — not for the Foreign National DSCR loan. There is no minimum FICO score requirement because the loan qualifies on property cash flow, not personal credit. If you’re an ITIN holder living in the U.S., a minimum 640 FICO is required for the ITIN mortgage product.
Can I close on a Florida property without traveling to the USA? +
Absolutely. Florida closings can be completed remotely using a Power of Attorney. You designate a trusted individual (often an attorney or title agent) to sign on your behalf at the title company. This is completely standard and legally valid. You do not need to be physically present at any point in the process — from offer to closing.
What taxes do foreign nationals pay when buying or selling in Florida? +
During ownership, foreign nationals pay the same property taxes as U.S. citizens (approximately 0.80% annually in Florida). Investment properties do not qualify for the Florida Homestead Exemption. When you sell, FIRPTA (Foreign Investment in Real Property Tax Act) requires the buyer to withhold 15% of the gross sale price as a prepayment toward potential capital gains tax. This is not always the final tax owed — you may receive a refund after filing a U.S. tax return. In some cases, you can apply for an IRS withholding certificate to reduce this amount.
Does buying property in Florida affect my visa or immigration status? +
No. Owning real estate in Florida does not grant, improve, or change your U.S. visa or immigration status in any way. Property ownership is completely separate from immigration law. Most B-2 visa holders can visit their Florida property for up to 90 days per visit as a tourist. Always consult an immigration attorney regarding your specific stay and visa terms.
Can I close a foreign national purchase in a U.S. LLC? +
Yes. The Foreign National loan program permits closing in a U.S. LLC entity. Many international investors prefer this structure for liability protection and estate planning purposes. Closing in an LLC is permitted — consult a U.S. real estate attorney about the right entity structure for your situation before applying.
Your Expert

Work With a Realtor and Mortgage Broker in One

Stacy Ann Stephens, MBA

Real Estate & Mortgage Broker · Florida · International Buyer Specialist

Most international buyers need to work with both a real estate agent and a separate mortgage broker — which means double the coordination, double the fees, and double the risk of miscommunication. With Stacy, both roles are handled under one roof. As a licensed Florida Real Estate Broker and Mortgage Broker, I guide international buyers from first inquiry through remote closing — including foreign national DSCR loans, ITIN mortgages, and cash purchase coordination.

RE License: BK3393979 · Florida
Mortgage NMLS: #1933745
Brokerage: Keller Williams Realty Winter Park, 147 W Lyman Ave, Winter Park FL 32789
Phone/WhatsApp: 407-603-1664
Email: realtorstephens@gmail.com
📅 Schedule Appointment 💼 Apply for a Loan 📞 Call Now

Stacy Ann Stephens, MBA · Real Estate Broker BK3393979 · Mortgage Broker NMLS #1933745

Keller Williams Realty Winter Park · 147 W Lyman Ave, Winter Park FL 32789 · 407-603-1664

This page is for informational purposes only and does not constitute legal, tax, or financial advice. Loan programs and terms are subject to change and borrower eligibility. Foreign National loans are not available in Osceola County. FIRPTA and tax rules should be verified with a qualified U.S. tax professional. realtorstephens.com