Buyers from outside the United States look at property in New Jersey for many reasons: a seasonal home, a place for family visits or a rental. Foreign national mortgage programs let non-resident buyers finance a purchase in New Jersey using a passport, foreign income records and international credit references in place of a U.S. credit score. These programs usually focus on second homes and investment property, and they vary by borrower, property and investor. Plan documents and wires early.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
New Jersey condo rules: New Jersey condominiums are governed by the Condominium Act and the Planned Real Estate Development Full Disclosure Act, enforced in part by the Department of Community Affairs' Bureau of Homeowner Protection. The state's role over owner-controlled associations is limited mainly to dispute-resolution procedures, open meetings, and owners' access to association accounting records, so buyers should review the association's own documents and finances directly. Source: New Jersey Department of Community Affairs, Division of Codes and Standards, Bureau of Homeowner Protection.
Where the numbers point in New Jersey
Counties with the most residents born outside the U.S.:
| County | Residents born outside the U.S. |
|---|---|
| Hudson County | 42.8% |
| Middlesex County | 35.4% |
| Union County | 33.6% |
| Passaic County | 33.1% |
| Bergen County | 31.8% |
| Essex County | 30.1% |
| Somerset County | 27.9% |
| Mercer County | 27.0% |
| Morris County | 19.8% |
| Atlantic County | 15.9% |
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Local pages in New Jersey
- Non-QM lenders in Trenton
- Non-QM lenders in Newark
- Non-QM lenders in Jersey City
- Non-QM lenders in Atlantic City
- Non-QM lenders in Paterson
- Non-QM lenders in Elizabeth
- Non-QM lenders in Vineland
- Non-QM lenders in Clifton
- Non-QM lenders in Camden
- Non-QM lenders in Passaic
- Non-QM lenders in Union City
- Non-QM lenders in Bayonne
- Non-QM lenders in East Orange
- Non-QM lenders in New Brunswick
- Non-QM lenders in West New York
- Non-QM lenders in Hoboken
- Non-QM lenders in Perth Amboy
- Non-QM lenders in Plainfield
- Non-QM lenders in Hackensack
- Non-QM lenders in Sayreville
- Non-QM lenders in Linden
- Non-QM lenders in Kearny
- Non-QM lenders in Fort Lee
- Non-QM lenders in Bridgeton
- Non-QM lenders in Franklin
- Non-QM lenders in Fair Lawn
- Non-QM lenders in Garfield
- Non-QM lenders in Princeton
- Non-QM lenders in Long Branch
- Non-QM lenders in Rahway
Common questions
Can a non-resident get a mortgage in the United States?
You may qualify through a foreign national mortgage program. These are non-QM loans designed for buyers who live abroad and want a U.S. second home or investment property. Instead of a U.S. credit score and pay stubs, lenders review your passport, foreign income records, bank statements and credit references. Programs vary by borrower, property and investor, and every loan is subject to credit approval.
Can I use rental income to qualify?
Some programs qualify an investment property on its expected rent instead of your personal income, while others look at your foreign income and assets. Rental-property loans based on the property's rent are a separate category with their own guidelines. Ask the loan officer which approach fits your plans, and talk to a tax professional about how rental income from U.S. property is taxed.
Why do lenders want a U.S. bank account?
A U.S. account lets the lender set up automatic monthly payments and gives a clear record of your funds before closing. Some programs ask that down payment and reserve funds sit in a U.S. account for a period before closing. Opening the account early, and moving money in planned wires, helps you avoid last-minute delays caused by holds on international transfers.
Other non-QM options in New Jersey
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansNon-warrantable condoBank statement HELOCInterest-only
Related guides
- Foreign National Mortgages: Guidelines, Documents and Property Use
- What Is a Non-Warrantable Condo, and How Can You Find Out Before You Offer?
- How to Compare Non-QM Loan Offers: Loan Estimates, Features and Fit
Foreign National Mortgages overview · New Jersey non-QM overview
- Census ACS 2020-2024, table B05002