Philip Bennett explains foreign national mortgages for Florida buyers

Bennett Capital Partners Mortgage Brokers is outlining how non-U.S. citizens, visa holders and overseas investors can finance Florida real estate without U.S. credit. The firm says the right loan programs can help more international buyers compete in a state that leads the nation in foreign home purchases. Why it matters: - Foreign buyers remain a major force in U.S. housing, and Florida continues to draw the largest share of international purchasers. - Many international buyers still pay cash because they assume mortgage financing is unavailable without U.S. credit. - Foreign national loan programs can open financing options for qualified buyers using alternative documentation, which may make Florida purchases more accessible and competitive. What happened: - Bennett Capital Partners Mortgage Brokers, a Miami-based brokerage led by President Philip Bennett, outlined how foreign national mortgage financing works for Florida real estate. - Philip Bennett said many international buyers can finance property without U.S. citizenship, a green card, or, in some cases, a U.S. credit score. - The firm framed the message around 2026 foreign national lending options for non-residents, visa holders and global investors. The details: - The National Association of Realtors 2025 International Transactions in U.S. Residential Real Estate report said international buyers purchased $56 billion in U.S. homes from April 2024 through March 2025. - Florida accounted for 21% of foreign buyer activity, the highest share of any state, according to the report. - The same report found that 47% of foreign buyers paid all cash, compared with 28% of buyers overall. - The median purchase price among foreign buyers reached $494,400, a record high. - Bennett said many foreign national programs accept alternative documentation such as foreign bank reference letters, international credit references, asset statements and other lender-specific records. - Buyers with an ITIN may have additional options. - Foreign national borrowers should often expect a down payment in the 25% to 35% range, depending on the lender, property type, occupancy, loan amount, borrower profile and documentation. - DSCR loans can be a fit for some international investors because the underwriting focuses on expected rental income rather than personal income or U.S. tax returns. - Common documents may include a valid passport, visa or legal entry documents when applicable, proof of funds for the down payment and closing costs, bank statements and a foreign bank reference. - Miami condo financing can involve extra lender review of the building, association budget, insurance, reserves, investor concentration, litigation and other project-level factors. - Bennett said many foreign national loans can close in a few weeks once documentation is complete. - Timing depends on the lender, property type, appraisal, title work, condo review when needed and how quickly the buyer submits paperwork. - Bennett said early pre-approval can help international buyers in competitive markets such as Miami, Brickell, Sunny Isles Beach, Coral Gables and Fort Lauderdale. Between the lines: - The pitch is as much about education as lending. The biggest hurdle for many overseas buyers may be the assumption that a U.S. mortgage is off the table. - Foreign national financing also gives brokers a way to compete for buyers who might otherwise default to all-cash offers. - Condo-heavy South Florida markets add another layer of complexity, which makes specialized brokerage guidance more valuable. What’s next: - Bennett Capital Partners says it will continue helping international buyers, real estate agents and referral partners navigate foreign national mortgage options in Florida. - The firm also expects continued demand for Non-QM products such as foreign national loans, DSCR loans, bank statement loans, jumbo loans, condo financing and private lending. - Bennett Capital Partners operates from Miami’s Brickell financial district and says it serves buyers across Florida. The bottom line: - For international buyers, Florida home financing does not always require U.S. credit, but the right loan program and documentation can make the difference between paying cash and securing leverage.