Foreign National Mortgages Can Help Colombian and Spanish Investors Finance Miami Property Without U.S. Residency
By Google News Personal Finance ·
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:
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.”
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…
Originally published by Google News Personal Finance
