How Much Can a Foreign National Borrow for a U.S. Real Estate Purchase?

How much can I actually borrow? 

When you're buying U.S. real estate from abroad, it’s one of the first questions that comes up if you don’t plan on paying all-cash. For many foreign investors, the answer is unclear. International investors often face a barrier with U.S. lenders when they lack U.S. credit, income, or a visa.

It’s time to stop living in limbo. With Waltz, you just need a cash flowing rental property to get started. This guide explains how you can borrow up to 70% of a property’s value using an investor-friendly loan product. Let’s dig in!

Key takeaways:

• Foreign nationals can borrow up to 70% LTV  on DSCR loans without U.S. credit or income.
  
  
• Loan approval is based on property cash flow, not your visa or residency status.
  
  
• You can get loans for new purchases and refinances, helping you scale remotely.

Borrow based on the property, not your passport

Waltz offers debt-service-coverage-ratio (DSCR) loans, a financing option designed to make U.S. real estate more accessible to international investors. Unlike traditional U.S. mortgages—which often require a host of paperwork that you might not have—DSCR loans focus on the property’s earning potential.

With this model, your eligibility is determined by whether the rental income from the property is sufficient to cover the monthly mortgage payments and related expenses. For foreign buyers, this means fewer administrative hurdles, no need to establish lengthy credit records in the U.S., and a faster path to securing investment properties.

To qualify, the property’s debt-service-coverage-ratio must be greater than 1.0. That means the rental income should cover the property’s total monthly debt.

Learn more: How to Calculate Your DSCR Ratio

How much can foreign nationals borrow?

Loan size is based primarily on the property’s appraised value and your down payment, not your personal financial profile. Waltz offers rental property loans ranging from $100,000 to $1 million per loan. These figures refer to loan amounts, not the property’s purchase price. The exact amount you can borrow will depend on the property’s value and your chosen down payment percentage. In most cases, you can borrow up to 70% of the appraised property value.

For example, if you’re buying a $300,000 rental property, you could secure a $210,000 loan from Waltz and cover the remaining $90,000 as your down payment. And because there’s no cap on the number of loans you can take, you can finance multiple properties over time—even if each individual loan remains within the $100,000 to $1 million range.

Read more: Here's What You Need to Know Before Applying for a DSCR loan

What properties are DSCR-eligible?

With a DSCR loan from Waltz, eligibility comes down to the type of property you’re buying and its intended use. These loans are designed for residential rental properties—houses or properties that generate income through tenant leases, not owner-occupancy. The most common DSCR-eligible property types include:

• Single-family rentals: Stand-alone houses leased to a single household. These are a popular starting point for many investors because they’re straightforward to manage and appeal to a broad tenant base.
  
  
• Condos and townhomes: Individual units within a shared building or complex. They can offer lower maintenance costs since exterior upkeep is often handled by a homeowners association (HOA), making them attractive for long-distance investors.
  
  
• 2–4 unit multifamily properties: Small apartment buildings or duplex/triplex/fourplex setups that allow you to earn multiple rental incomes from a single property. 

Every investor has unique goals, risk tolerance, and management preferences. Choosing the right mix of rental properties is an important part of building a successful investment strategy. Whether you prefer the simplicity of single-family houses, the convenience of condos, or the income potential of multifamily properties, DSCR loans from Waltz provide flexible financing options to help you execute your plan.

Learn more: Breaking Down the 4 Most Common Residential Rental Property Types

What factors affect the loan amount?

While Waltz doesn’t evaluate your personal financial background, several property-specific factors will influence how much you can borrow. These include rental income, appraised value, and LTV eligibility.

Explore more: Common Causes of Mortgage Delays (and How to Avoid Them)

Rental income potential and DSCR

Higher rental income compared to the mortgage amount improves your DSCR, which can lead to more favorable loan terms like better interest rates or easier qualification. That’s why many investors who work with Waltz focus on markets known for cash flow, enabling them to secure competitive financing.

Read more: Waltz Customer Success Stories

Appraised value vs. purchase price

Waltz lends against the appraised value of the property, not necessarily the purchase price. If the appraised value comes in lower than expected, your approved loan amount may decrease. That’s why Waltz coordinates appraisals early in the process, so there are no surprises at closing.

Why Waltz uses 70% LTV as a risk standard

Foreign investors often face tighter borrowing limits than U.S. citizens due to documentation and transfer risks. Waltz sets a 70% loan-to-value (LTV) ceiling, which means the loan amount can be up to 70% of the property’s appraised value. This ensures the loan is secure and requires investors to retain at least 30% equity in the property from day one. Maintaining this equity protects both the borrower and the lender, while still offering strong leverage to grow a real estate portfolio.

What’s the difference between purchase and refinance terms?

Generally, loan amounts, interest rates, and other terms remain similar across these options, often offering up to 70% loan-to-value for qualified rental properties. A new purchase loan is used to finance the acquisition of a rental property you’re buying for the first time. On the other hand, refinancing replaces an existing mortgage on a property you already own. There are two main types of refinancing:

A rate-and-term refinance adjusts the interest rate or loan term without significantly changing the loan amount, typically to reduce monthly payments or improve loan conditions. In contrast, a cash-out refinance lets you borrow more than your current mortgage balance and take the difference in cash, often used for renovations, other investments, or personal needs. Understanding the difference between purchase and refinance loans helps you choose the best financing option to fit your investment goals.

See how much you can borrow with Waltz

Find a rent-ready property. Run the numbers. If it cash flows, Waltz can help you finance it, no visa, credit score, or U.S. income required.

Try Waltz Today!