Foreign National Mortgages Can Help Colombian and Spanish Investors Finance Miami Property Without U.S. Residency

Published guidelines reviewed in October 2026 show that some foreign national mortgage programs offer up to 75% financing on certain loans of about $1 million or less. Available terms vary by borrower, property and loan size.

Miami, FL, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Alex De La Rotta, P.A., a Miami real estate investment advisory firm, has published a guide to investing in Miami real estate from Colombia or Spain. The guide’s October 2026 review of seven lenders’ published guidelines found that several accept borrowers without a U.S. credit score. Most cap loans at $3 million or less, with lower loan-to-value limits for larger amounts.

For purchases priced at $3 million to $5 million, the reviewed loan-to-value limits imply down payments of roughly 35% to 50%. The firm offers Florida real estate investment advisory for foreigners to investors buying Miami property from about $500,000 to $5 million and can introduce them to mortgage brokers offering foreign national loans. Nearly half of foreign buyers of U.S. homes (48%) paid all cash in the year ending March 2026, and about 51% did in South Florida in 2025, according to the National Association of REALTORS® and the MIAMI Association of REALTORS®.* The figures cover foreign buyers both inside and outside the United States, so they leave the nonresident financing rate for buyers from Colombia and Spain unmeasured.

Why a Conventional Mortgage May Not Fit a Nonresident Buyer

Fannie Mae buys mortgages made to non-U.S. citizens only when the borrower is a lawful permanent or non-permanent U.S. resident.* Nonresident buyers from Colombia or Spain may qualify through lenders that retain loans or sell them outside Fannie Mae and Freddie Mac, subject to each lender’s underwriting criteria. Foreign buyers generally do not need U.S. citizenship or residency to own property. Florida’s restrictions do not list Colombia or Spain as countries of concern,* but the law also examines ownership and control of the buying entity.

How Foreign National Mortgage Programs Assess Overseas Buyers

The seven-lender review found differences in credit, income documentation, down payments and reserves. The following ranges describe the programs reviewed; actual offers depend on the borrower and property:

• Credit: Several of the reviewed programs did not require a U.S. credit score and accepted a foreign credit report or bank reference letters instead. A U.S. score or an international credit report can still raise the maximum loan-to-value at some lenders.
• Income: For full-documentation loans, lenders may request an employer letter, home-country tax returns or an accountant’s letter with a certified English translation. DSCR programs instead underwrite the property’s rent from a signed lease or the appraiser’s market-rent estimate.
• Down payment: The most favorable terms in the reviewed programs required 25% down on loans of up to about $1 million, and buyers with only foreign credit often faced 30%. Maximum loan-to-value fell as loans grew, to 50% to 55% at $3 million, the ceiling for most of the reviewed programs.
• Funds: Reserve requirements ranged from none to 12 months of payments. Some lenders require the down payment and reserves to sit in a U.S. bank for a set period, commonly 30 to 60 days, while others accept reserves held abroad.

A full-documentation loan qualifies the borrower on personal income, and several lenders offer this type for second homes. A DSCR loan qualifies primarily on the property’s rent and, in the reviewed programs, was limited to rental property with no personal use. A buyer planning personal use needs a program that permits second-home occupancy; rental-only programs are designed for investment properties. For a rental property, either loan type may be available, depending on the lender’s requirements.

As part of its Miami real estate services for foreign investors, the firm helps clients coordinate mortgage application documents, while the lender determines loan terms and approval.

“A lot of my clients arrive planning to pay cash because that’s what their friends did, and they’re surprised a lender here will look at them at all,” said Alex De La Rotta, CEO of Alex De La Rotta, P.A. “The ones who finance smoothly start the paperwork early. Getting a Colombian accountant’s letter or a Spanish tax return translated and certified can take longer than choosing the apartment.”

Frequently Asked Questions

Question: Does a foreign national mortgage carry a higher interest rate than a resident’s loan?
Answer: Foreign national mortgage rates are generally higher than those available to U.S. residents, according to HSH.com.* Freddie Mac’s 7.32% average 30-year fixed conventional rate for the week of Oct. 22, 2026, provides a comparison point;* an individual foreign national loan will be priced according to its terms and borrower profile.

Question: What does a foreign national pre-approval require?
Answer: A pre-approval file commonly includes a passport, proof of address and bank statements documenting the down payment and reserves. Full-documentation loans may also require income records; DSCR applications generally use a signed lease or a market-rent estimate. Visa or ESTA requirements vary by applicant and lender. The lender or title company can confirm translation, notarization and apostille requirements, as well as the expected closing timeline.

Question: Can the loan close in an LLC owned by a foreign investor?
Answer: Some foreign national and DSCR programs permit rental-property loans through a U.S. LLC. In the reviewed programs that specified guarantee terms, the LLC’s owners had to sign as guarantors. Confirm the lender’s occupancy and guarantee requirements before applying. The lender will need the LLC’s formation documents and tax ID. An attorney and CPA can assess the ownership structure before the application is submitted.

*Sources: National Association of REALTORS®, 2026 International Transactions in U.S. Residential Real Estate (July 2026); MIAMI Association of REALTORS®, 2025 MIAMI International Report (January 2026); Florida Statutes, Chapter 692 (SB 264); Fannie Mae Selling Guide, B2-2-02, Non-U.S. Citizen Borrower Eligibility Requirements; Freddie Mac Primary Mortgage Market Survey (Oct. 22, 2026); HSH.com, foreign national mortgage explainer by Peter Andrew (March 31, 2025); foreign national mortgage program guidelines published by A&D Mortgage, Advancial Federal Credit Union, Angel Oak Mortgage Solutions, Champions Funding, Defy Mortgage, HSBC Bank USA and NQM Funding (reviewed October 2026).

The information in this release is general and is not legal, tax or financial advice. Alex De La Rotta is not a licensed financial adviser or mortgage broker.

About Alex De La Rotta, P.A.: Alex De La Rotta, P.A. is a Miami real estate investment advisory firm that works in Spanish and English with investors from Colombia, Spain and other countries buying Miami property. Depending on the engagement, it helps with:

• the investment allocation
• introductions to mortgage brokers
• the legal and tax structure, with the firm’s legal team and accountants or the investor’s own advisers
• the purchase and closing, including preconstruction projects
• property management for owners who live abroad

The firm is led by Alex De La Rotta, its CEO, an international real estate advisor with eXp Realty who has held a Florida real estate sales associate license since 2014. Learn more at alexdelarotta.com.

Majed Soufi
Zen Media
pr@zenmedia.com