US Citizen Non-Resident Financing

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US Citizen Non-Resident Financing

Joey BacksPro Member
New to Real Estate · London, UK · Member since 2024 · 4 posts · 3 votes

Hi all, first post here! BP and the forums have been so valuable while I’ve been learning and I’m so grateful to have this resource.

I'm a US citizen currently living abroad (London, UK) and would like to start my REI journey in the US. I've read quite a few posts about foreign investor financing but most seem to deal with non-citizen investors without US credit or personal tax filings. As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score. However, I don't have a US-based W2 (but work full time for an American tech company in their London office).

I am not quite sure what category I fit into since I’m not a completely foreign investor, but I also don’t have a W2 or current residency in the US.

Curious if any Lenders here have advice on how to seek financing. I’d love to take advantage of a “traditional” mortgage (or even FHA?) that isn’t subject to higher down payment requirements or higher interest. My goal is to get started with a turnkey MTR or LTR, unless I can be convinced BRRR can work without being present to manage the rehab. Thanks for the help!

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  • Jason WrayPro Member
    Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
    1y

    Joey,

    Under certain programs you would qualify for a Primary home each one requires a few things but it can be done. I will not name every program out there because this would be a very large reply post. Instead I will tell you that it can be done and you just need to have a quick call to go over the basics and be able to answer several questions.

    If you wanted to buy an investment property that would be even easier and there are a few programs you could use for this as well. There are some New programs coming for 2025 for primary homes, Vacation homes, and investment properties. We are also going to see rates start to trend down once the 10 Year treasury start to adjust down.

    If you have any questions at all or need to pick a Baker's brain feel free to reach out! I enjoy helping Bigger Pockets members save time and money.

    [email protected]727-637-4289
    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y

    Are you planning to purchase in an investment property or primary residence? Do you work remotely?

    [email protected]818-269-7983
    LuxePrivate Investments LLC 570 Reviews
    WebsiteView Page
    0Reply
  • Joey BacksPro Member
    OP
    New to Real Estate · London, UK · Member since 2024 · 4 posts · 3 votes
    1y
    Quote from @Jason Wray:

    Joey,

    Under certain programs you would qualify for a Primary home each one requires a few things but it can be done. I will not name every program out there because this would be a very large reply post. Instead I will tell you that it can be done and you just need to have a quick call to go over the basics and be able to answer several questions.

    If you wanted to buy an investment property that would be even easier and there are a few programs you could use for this as well. There are some New programs coming for 2025 for primary homes, Vacation homes, and investment properties. We are also going to see rates start to trend down once the 10 Year treasury start to adjust down.

    If you have any questions at all or need to pick a Baker's brain feel free to reach out! I enjoy helping Bigger Pockets members save time and money.

    Thanks Jay, I may get in touch! I suppose I would not be looking for a primary residence immediately as I won’t live in it while I’m still living overseas. If I find a deal on an area I would consider living when I move back I would like to be able to pull the trigger and possibly refinance into an owner-occupier loan once I move back to the US.
    0Reply
  • Joey BacksPro Member
    OP
    New to Real Estate · London, UK · Member since 2024 · 4 posts · 3 votes
    1y
    Quote from @Erik Estrada:

    Are you planning to purchase in an investment property or primary residence? Do you work remotely?

    I would have to start with an investment property as I currently live in London so can’t qualify for an owner-occupier loan. My employment is tied to my office in London at the moment. 

    I could feasibly pursue multiple deals and if I find one in an area I’d like to live once I move back to the US, I would like the option of renting it out while still living abroad but being able to move in and refi to a better deal with an owner-occupier loan. 
    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y
    Quote from @Joey Backs:
    Quote from @Erik Estrada:

    Are you planning to purchase in an investment property or primary residence? Do you work remotely?

    I would have to start with an investment property as I currently live in London so can’t qualify for an owner-occupier loan. My employment is tied to my office in London at the moment. 

    I could feasibly pursue multiple deals and if I find one in an area I’d like to live once I move back to the US, I would like the option of renting it out while still living abroad but being able to move in and refi to a better deal with an owner-occupier loan. 

    I think the best move here is to buy with a DSCR based loan, and once you get 2 years of work history here in the US, look into an owner occupied refi, or. buy another property as your primary residence.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 570 Reviews
    WebsiteView Page
    0Reply
  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    1y

    You should have some options! There might be some hoops to get through with conventional financing with your income situation, but if that doesn't work, you could use a debt service loan. You'd have to refinance out of it if you ever needed to move into the property since it's only available for investments. No income or employment history required on that type of loan, so it would simplify things for you. 

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC520 Reviews
    View Page
    0Reply
  • Jason WrayPro Member
    Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
    1y
    Quote from @Joey Backs:
    Quote from @Jason Wray:

    Joey,

    Under certain programs you would qualify for a Primary home each one requires a few things but it can be done. I will not name every program out there because this would be a very large reply post. Instead I will tell you that it can be done and you just need to have a quick call to go over the basics and be able to answer several questions.

    If you wanted to buy an investment property that would be even easier and there are a few programs you could use for this as well. There are some New programs coming for 2025 for primary homes, Vacation homes, and investment properties. We are also going to see rates start to trend down once the 10 Year treasury start to adjust down.

    If you have any questions at all or need to pick a Baker's brain feel free to reach out! I enjoy helping Bigger Pockets members save time and money.

    Thanks Jay, I may get in touch! I suppose I would not be looking for a primary residence immediately as I won’t live in it while I’m still living overseas. If I find a deal on an area I would consider living when I move back I would like to be able to pull the trigger and possibly refinance into an owner-occupier loan once I move back to the US.

     Thats a wise move and exactly how you would run the scenario!

    [email protected]727-637-4289
    0Reply
  • Albert Bui
    Lender · Bellevue WA & Orange County, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y
    Quote from @Joey Backs:

    Hi all, first post here! BP and the forums have been so valuable while I’ve been learning and I’m so grateful to have this resource.

    I'm a US citizen currently living abroad (London, UK) and would like to start my REI journey in the US. I've read quite a few posts about foreign investor financing but most seem to deal with non-citizen investors without US credit or personal tax filings. As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score. However, I don't have a US-based W2 (but work full time for an American tech company in their London office).

    I am not quite sure what category I fit into since I’m not a completely foreign investor, but I also don’t have a W2 or current residency in the US.

    Curious if any Lenders here have advice on how to seek financing. I’d love to take advantage of a “traditional” mortgage (or even FHA?) that isn’t subject to higher down payment requirements or higher interest. My goal is to get started with a turnkey MTR or LTR, unless I can be convinced BRRR can work without being present to manage the rehab. Thanks for the help!


     You can still qualify so long as you have verifiable income. You're still considered US citizen for qualification purposes not a foreign national. Most of the FN moniker is for folks with no nexus or residency/citizenship to the US. Since you're a citizen but you live and work abroad you'd still qualify mostly for second homes occupancy or investor non owner occupancy (primary is hard to claim if your job requires you to be physically next to the office as an example so an underwriter isnt going to readily believe you unless you can get HR to write you a letter to state you're remotely capable of earning this income/job duties anywhere).

    Hopefully that helps let me know if you have further questions into mortgage planning.

    0Reply
  • Joey BacksPro Member
    OP
    New to Real Estate · London, UK · Member since 2024 · 4 posts · 3 votes
    1y

    Thanks all this is super helpful and hopefully someone else in my situation will stumble up on your advice too!

    1Reply
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