AppleBuying a $1 million or higher property in the United States can be a major financial opportunity for international buyers—but obtaining the right mortgage can be more complicated when the borrower earns income outside the United States, has limited U.S. credit history, or holds substantial assets overseas.
For qualified borrowers, the solution may be a jumbo mortgage, foreign-national mortgage, international buyer mortgage, or another specialized home-financing program.
The important distinction is that being a foreign national does not automatically mean a buyer cannot obtain U.S. mortgage financing. Eligibility depends on the lender, the borrower’s documentation, income, assets, credit profile, immigration status, property type, down payment and other underwriting factors.
In 2026, this makes high-value mortgage financing one of the most important areas for international buyers to understand before purchasing expensive U.S. property.
What Is a $1M+ Jumbo Mortgage?
A jumbo mortgage is a home loan that exceeds the conforming loan limits applicable to standard conventional mortgages in the relevant location.
For an international buyer purchasing a luxury property, a jumbo loan can potentially finance a substantial portion of the purchase price.
For example, a buyer considering a:
- $1 million home
- $1.5 million home
- $2 million home
- $3 million home
- $5 million luxury property
may need financing that falls outside ordinary conforming-loan structures.
The exact loan limit and underwriting requirements depend on the location, property and lender.
The important point is that a $1 million purchase price does not automatically mean a $1 million mortgage. The borrower may need a significant down payment, and some specialized international-buyer programs may require substantially more equity.
Why International Buyers Look for Jumbo Financing
International buyers may use U.S. mortgage financing for several different reasons.
1. Purchasing a primary residence
Some international buyers move to the United States for employment, family reasons, education, business or other long-term plans.
Instead of purchasing an inexpensive starter property, a high-income buyer may be interested in a higher-value home in a major metropolitan market.
2. Purchasing a second home
An international buyer may already own a residence elsewhere and want a U.S. property for personal use.
Popular destinations can include:
- Florida
- California
- New York
- Texas
- Arizona
- Nevada
- Colorado
Financing requirements vary considerably depending on the intended use of the property.
3. Purchasing an investment property
Some buyers are interested in U.S. real estate as an investment.
Investment-property financing can have different underwriting rules from owner-occupied purchases.
A lender may evaluate the borrower’s assets, income, projected rental income, property characteristics and overall financial profile.
4. Financing a luxury property
High-net-worth buyers may not want to liquidate a large portfolio simply to purchase a property.
A mortgage can potentially allow a buyer to preserve liquidity while using financing to purchase the property.
That does not mean borrowing is always the best choice. The interest rate, fees, taxes, insurance, liquidity requirements and opportunity cost should all be evaluated before proceeding.
Can a Foreign National Get a $1M+ Mortgage in the USA?
Potentially, yes.
However, there is no universal “foreign national mortgage.”
Each lender establishes its own eligibility criteria.
A lender may consider factors such as:
- Passport and identification
- Immigration or residency status
- U.S. visa status, where applicable
- U.S. credit history
- International credit history
- Employment
- Business ownership
- Foreign income
- U.S. income
- Bank statements
- Investment accounts
- Real estate holdings
- Source of down payment
- Debt obligations
- Property value
- Loan-to-value ratio
- Currency and country of income
- Intended property use
For this reason, international buyers should compare lenders instead of assuming that one bank’s requirements apply to every lender.
How Much Down Payment Might Be Required?
There is no single down-payment requirement for every international buyer.
A lender could require substantially more equity from a borrower with limited U.S. credit or complicated foreign income documentation than from a highly qualified U.S. borrower.
For illustration only:
| Property Price | 20% Down Payment | 30% Down Payment | 40% Down Payment |
|---|---|---|---|
| $1,000,000 | $200,000 | $300,000 | $400,000 |
| $1,500,000 | $300,000 | $450,000 | $600,000 |
| $2,000,000 | $400,000 | $600,000 | $800,000 |
| $3,000,000 | $600,000 | $900,000 | $1.2M |
| $5,000,000 | $1M | $1.5M | $2M |
These examples are mathematical illustrations rather than lender offers.
A buyer should never assume that a specific percentage will be accepted until a lender evaluates the application.
The Most Important Factor: Documentation
For an international buyer, documentation can be just as important as income.
A lender needs enough information to determine whether the borrower has the ability and financial capacity to repay the mortgage.
Depending on the lender and borrower, documentation may include:
Proof of identity
This could include a valid passport and other identification requested by the lender.
Proof of income
A lender may request employment documentation, business records, tax documents, bank statements or other evidence of recurring income.
Proof of assets
High-net-worth borrowers may have assets spread across multiple countries.
Potential documentation can include:
- Bank statements
- Brokerage statements
- Investment accounts
- Property ownership documents
- Business ownership records
- Trust documentation
- Other verifiable assets
Source of funds
A lender may need to understand where the down payment and closing funds originated.
This can be particularly important for large international transfers.
The borrower should maintain a clear documentary trail for major funds being used in the purchase.
What If You Don’t Have a U.S. Credit Score?
Limited U.S. credit history does not necessarily end the conversation.
However, it can make underwriting more complicated.
A lender may evaluate alternative evidence of creditworthiness, depending on its program.
For example, an international buyer may have:
- Established credit outside the United States
- Existing mortgage payments
- Bank relationships
- Investment assets
- Significant liquid reserves
- A strong employment history
- Substantial business income
The lender decides what documentation it will accept.
This is one reason specialized international mortgage lenders can be worth investigating alongside traditional banks.
Jumbo Mortgage vs. Foreign-National Mortgage
These terms are sometimes confused.
A jumbo mortgage primarily describes the size of the loan relative to applicable conforming limits.
A foreign-national mortgage generally refers to financing designed for borrowers who may not have the same U.S. residency or credit profile as a conventional American borrower.
A buyer could potentially fall into both categories.
For example, an international investor purchasing a $2 million property could require a large loan while also needing specialized underwriting because much of the borrower’s income and assets are outside the United States.
What Lenders May Look for in a High-Net-Worth Borrower
A high income alone may not be enough.
For a large mortgage, lenders can evaluate the entire financial picture.
Important factors can include:
Strong liquid assets
Significant reserves can strengthen a borrower’s overall financial profile.
Consistent income
Stable employment or business income can make the application easier to evaluate.
Low existing debt
A borrower with substantial income but equally substantial debt may not receive the same terms as someone with a stronger debt profile.
Large down payment
A larger equity contribution can reduce the lender’s exposure.
Property quality
The property itself matters.
The lender may order an appraisal and evaluate the property’s marketability.
Clear financial documentation
International borrowers should expect detailed questions regarding income, assets and transfers.
How to Find the Right Jumbo Mortgage Lender
Do not automatically choose the first lender that advertises jumbo mortgages.
Instead, compare several options.
Consider asking each lender:
- Do you finance foreign nationals?
- Do you offer jumbo mortgages?
- What is your maximum loan amount?
- What minimum down payment is required?
- Do you accept foreign income?
- How do you evaluate international credit?
- Are foreign bank statements accepted?
- What reserve requirements apply?
- Can the loan be used for an investment property?
- What property types are eligible?
- What fees are charged?
- How long does underwriting normally take?
- Is preapproval available before making an offer?
These questions can quickly eliminate lenders whose programs do not match the buyer’s circumstances.
Why Mortgage Preapproval Matters
Getting preapproved can be particularly valuable when shopping for expensive property.
A preapproval can help the buyer understand approximately how much financing a lender may be willing to provide based on the information reviewed.
It can also help establish a realistic purchase budget before the buyer begins making offers.
However, preapproval is not the same thing as final loan approval.
The final approval can still depend on:
- Property appraisal
- Documentation
- Verification
- Underwriting
- Title
- Property eligibility
- Final financial review
Example: Buying a $2 Million Home
Consider a hypothetical international buyer looking at a $2 million property.
Suppose the buyer chooses to make a 30% down payment.
The numbers would look like:
Purchase price: $2,000,000
Down payment: $600,000
Potential mortgage: $1,400,000
The buyer would still need to budget for closing costs, taxes, insurance, reserves and other expenses.
The actual mortgage rate and approval terms would depend on the lender and the borrower’s circumstances.
The example demonstrates why jumbo mortgage advertising can have significant commercial value: the underlying financial transaction can involve hundreds of thousands or even millions of dollars.
International Buyers Should Compare the Total Cost
The lowest advertised mortgage rate is not necessarily the cheapest mortgage.
Compare:
- Interest rate
- Annual percentage rate
- Origination charges
- Discount points
- Underwriting fees
- Appraisal fees
- Closing costs
- Prepayment provisions
- Private mortgage insurance where applicable
- Property taxes
- Homeowners insurance
- Foreign-exchange costs
- Required cash reserves
For an international buyer, currency conversion can also become significant.
A seemingly small difference in exchange rates can become meaningful when transferring hundreds of thousands of dollars.
Consider Private Banking for Very High-Value Purchases
Buyers with substantial assets may also want to investigate private-banking or wealth-management relationships.
Some financial institutions serve high-net-worth clients with a combination of:
- Mortgage lending
- Investment management
- Banking
- Foreign exchange
- Wealth planning
- Private banking
This does not guarantee better mortgage terms.
However, a buyer with significant investable assets may find it useful to compare a conventional jumbo lender with private-banking financing.
Don’t Forget Property Insurance
Mortgage approval is only one part of buying expensive U.S. property.
A lender will generally require appropriate insurance for the property.
For luxury homes, insurance costs can vary dramatically depending on:
- State
- Property value
- Location
- Construction
- Flood risk
- Hurricane exposure
- Wildfire exposure
- Replacement cost
- Claims history
Buyers should investigate insurance costs before committing to a property.
A home that appears affordable based solely on the mortgage payment could become considerably more expensive after taxes, insurance and maintenance are included.
What Can Cause a Jumbo Mortgage Application to Be Delayed?
International mortgage applications can involve additional documentation.
Common sources of delays may include:
- Incomplete bank statements
- Unclear source of funds
- Foreign-language documents requiring translation
- Complicated business ownership
- Multiple income sources
- Currency conversion questions
- Missing tax documentation
- Property appraisal issues
- Unverified assets
- Changes in employment or income
Preparing documentation early can make the process considerably smoother.
A Practical 2026 Strategy for International Buyers
A strong process can look like this:
Step 1: Establish your purchase budget
Determine how much cash you are comfortable committing to the purchase.
Step 2: Review your assets
Organize bank, investment and property records.
Step 3: Document your income
Prepare employment or business-income documentation.
Step 4: Compare lenders
Speak with multiple lenders that handle jumbo and international borrowers.
Step 5: Request preapproval
Get a clearer picture of your potential financing capacity.
Step 6: Compare mortgage offers
Do not compare interest rate alone.
Review the complete cost structure.
Step 7: Shop for property
Search within a budget supported by your financing profile.
Step 8: Complete underwriting
Provide the lender with the documentation requested.
Step 9: Complete appraisal and due diligence
The lender and buyer must evaluate the property before closing.
Step 10: Close
Once all conditions are satisfied, the purchase can proceed to closing.
Are $1M+ Mortgages Only for Millionaires?
No.
A $1 million mortgage does not necessarily require the borrower to have $1 million in cash.
A borrower could potentially qualify based on a combination of:
- Income
- Assets
- Down payment
- Credit
- Reserves
- Property value
- Debt obligations
However, large mortgages are generally designed for financially qualified borrowers, and the underwriting requirements can be significantly more demanding than those associated with smaller home loans.
Best U.S. Markets for International Luxury Buyers
International demand can vary considerably by market.
Buyers frequently consider markets such as:
Miami and South Florida
Attractive to international buyers because of its global business connections, luxury property market and large international population.
New York
A major destination for international business, finance, education and luxury real estate.
Los Angeles
A significant market for entertainment, technology, business and luxury property.
Houston
Known for energy, medicine, international business and relatively broad housing inventory.
Dallas
A major business center with significant corporate and high-income employment.
Austin
A technology and business hub that has attracted high-income professionals and investors.
The best market depends on the buyer’s objective—not simply the headline property price.
The Bottom Line
For international buyers looking at $1 million, $2 million, $3 million or higher U.S. properties, mortgage financing can be substantially more complicated than a standard home loan.
The strongest strategy is to prepare financial documentation early, compare specialized lenders, understand jumbo-mortgage requirements and obtain financing guidance before making a major property commitment.
A foreign national may have viable financing options even without a long U.S. credit history, but eligibility, rates, down-payment requirements and documentation vary by lender.
The most important step is therefore not simply finding a lender that advertises a “jumbo mortgage.”
It is finding a lender whose underwriting program actually fits your income, assets, residency situation, property type and purchase price.
Before applying, compare multiple lenders and review the complete cost of financing—not just the advertised interest rate.
This article is for general educational purposes and does not constitute mortgage, financial, tax or legal advice. Mortgage availability and qualification requirements vary by lender, borrower, property and location.
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