Can Foreign Buyers Get a Mortgage to Buy Property in Florida? (2026 Guide)

Short answer: yes — foreign buyers can absolutely get mortgages to buy Florida property. Most put 30-40% down, pay rates about 1-2% above conforming, and close on loans called "foreign national" or "ITIN" programs. In 2025, foreign buyers purchased 5,300 South Florida properties (up from roughly 4,000 in 2024), making up 15% of all residential purchases in the Miami metro.

At Sell It Realty, a meaningful share of our book is international — Israeli, Latin American, Canadian, European. The mechanics are well-established, but the documentation and structuring need to be right. Here's the 2026 playbook.

Foreign Buyers Are Back — The Numbers

• 5,300 foreign buyer purchases in South Florida in 2025 (MIAMI Realtors)
• 15% of all Miami-metro residential transactions
• Up from roughly 4,000 purchases in 2024 — a meaningful rebound
• Top origin countries: Argentina, Colombia, Brazil, Venezuela, Canada, Mexico, Israel

For more on Israeli capital specifically, our Israeli investors page covers the Hebrew-speaking service our firm offers and the typical deal structures we see.

The Two Main Mortgage Programs

1. Foreign National Loan

• For: Non-U.S. residents, no SSN, no U.S. credit history
• Down payment: Typically 30-40% (some programs 25% for prime borrowers)
• Reserves required: 6-12 months PITI in a U.S. bank account
• Rate: Roughly 1-2% above conforming — currently around 7.5-8.5% in April 2026
• Loan amounts: Up to $5M+ from several jumbo lenders
• Property types: Primary residence, second home, or investment

2. ITIN Mortgage

• For: Borrowers with an Individual Taxpayer Identification Number (ITIN) — resident aliens, undocumented workers paying U.S. taxes
• Down payment: 15-25% (lower than foreign national)
• Credit: Builds on U.S. tax return history, not a traditional credit score
• Rate: Similar to foreign national — Non-QM pricing
• Best for: Long-term residents who don't qualify for conforming loans

Both are "Non-QM" (Non-Qualified Mortgage) products. Dozens of lenders write them. The best ones for foreign nationals specialize in international clients and accept translated documents.

Documents You'll Need

Standard document list for a foreign national loan:

• Valid passport
• Visa or proof of legal entry (stamped entry into the U.S. at some point)
• 2 years of tax returns from your home country (translated to English, in some cases apostilled)
• 2 years of employment or business verification (letter from employer or accountant)
• 3-6 months of bank statements from any country
• Proof of down payment funds in a U.S. bank or seasoned for 60+ days
• Source-of-funds explanation (required under anti-money-laundering rules)
• Property insurance quote and (for condos) HOA documents

The Most Common Structural Choice: Buy in an LLC

In 20 years of closing deals, I've seen the vast majority of foreign investors buy through a Florida LLC, often owned by a holding company in the home country (or a U.S. holding company with beneficial owner disclosure).

Reasons:

1. Liability protection — personal assets shielded from lawsuits tied to the property

2. Estate planning — LLC interests are easier to transfer than titled real estate

3. Privacy — Florida LLCs don't publicly list members on the state registry

4. FIRPTA flexibility — LLCs taxed as partnerships can sometimes reduce FIRPTA withholding

5. Multiple-investor structures — easy way for family members or partners to share ownership

This requires a U.S. tax attorney who understands your home country's tax treaty with the U.S. We can connect Israeli clients with attorneys who handle this regularly.

How Long the Process Takes

• Cash purchase: 14-30 days, start to close
• Foreign national mortgage: 45-60 days
• ITIN mortgage: 30-45 days

Three things speed things up:

1. Getting pre-approved BEFORE you shop, not after you go under contract

2. Having translated docs and proof-of-funds letters ready at the outset

3. Working with a title/closing attorney experienced in remote international closings — power of attorney can be executed through a U.S. consulate if you're not flying in

The Biggest Mistakes I See Foreign Buyers Make

1. Assuming cash is always better. At 30-40% down, a foreign national loan leaves capital free for other investments. The rate premium is often worth it.

2. Wiring funds to the wrong party. Wire fraud is the #1 international closing risk — always verbally confirm wire instructions with a known phone number at the title company.

3. Skipping the insurance quote. Florida insurance can double a foreign buyer's expected holding costs. Quote before you write the offer. More on that here.

4. Ignoring FIRPTA at resale. If you're planning to sell someday, understand that buyers will withhold 15% of the gross price as a FIRPTA advance. You can apply for a reduced withholding certificate, but it takes 90+ days from the IRS.

FIRPTA in One Paragraph (for Israeli Sellers)

When a foreign-person owner sells U.S. real property, the buyer is required to withhold and remit a portion of the gross sale price to the IRS. Standard withholding is 15%; exceptions exist for sales under $300K (0% if buyer uses as primary residence) and $300K-$1M (10% if primary residence). Actual tax owed is based on capital gain, not gross price — so you typically get a refund after filing a U.S. tax return. You can also apply for a "withholding certificate" in advance to reduce what's held. Do this 60-90 days before closing.

Practical Advice for Israeli and European Buyers

If you're buying from abroad:

• Work with a bilingual agent and attorney — I speak Hebrew and English daily in our practice
• Set up a U.S. bank account before shopping — most lenders require reserves on U.S. soil
• Understand that 1031 exchanges don't apply to non-U.S. property — plan your exit tax strategy upfront
• Miami's time zone is friendly for Israeli clients (7-hour difference) — most negotiations happen before your bedtime

What's Next

If you're ready to look at specific properties, start with the listings page. If you want to understand the structuring before you look at homes, send me a message and we'll schedule a call (Hebrew or English). I'll introduce you to the lender, attorney, and CPA network our office uses — no markup, no referral fees on my side.

Foreign buyers have been a cornerstone of South Florida real estate for 40 years. The programs exist, the lenders are writing, and the 2026 data shows the capital is flowing. The details are the game — and the details matter.