What documents does a foreign national need to refinance a Florida property?

Foreign national borrowers typically need a valid passport, 12–24 months of foreign or US bank statements showing assets, a foreign credit report or reference letter from their home-country bank, documentation of the Florida property including the current mortgage statement, and proof of property insurance. Some lenders also require a CPA letter or employment letter confirming income from abroad.

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Q: Can a non-US citizen do a cash-out refinance on a Florida property?

Yes. Non-US citizens — including foreign nationals without a US visa, green card holders, and visa holders — can do a cash-out refinance on Florida property through foreign national mortgage programs. These programs do not require US credit history and instead use international credit references, foreign bank statements, and asset documentation to qualify the borrower.

Q: What is a foreign national mortgage in Florida?

A foreign national mortgage is a non-QM loan designed for borrowers who are not US citizens or permanent residents. These programs are offered by private and portfolio lenders who specialize in cross-border real estate financing. They typically allow up to 70–75% loan-to-value and use foreign income documentation, international credit reports, or asset depletion to qualify the borrower.

Q: Do foreign nationals need a US Social Security number to refinance in Florida?

No. Foreign national mortgage programs do not require a US Social Security number. Borrowers are identified using their passport and may use an ITIN if they file US taxes, but an ITIN is not required for all foreign national programs. The qualification is based primarily on asset documentation, foreign income, and the property's value.

Q: How much equity can a foreign national access in a Florida cash-out refinance?

Most foreign national mortgage programs allow up to 70–75% loan-to-value on a cash-out refinance. On a Florida property appraised at $600,000 with an existing mortgage of $250,000, a foreign national borrower could potentially access up to $200,000 in cash (70% of $600,000 is $420,000 minus the $250,000 balance). Exact amounts depend on the lender, documentation strength, and property type.

Q: Does Florida law restrict foreign nationals from owning or refinancing property?

Florida's SB 264 (effective July 1, 2023) restricts property purchases — not refinances — for citizens of certain foreign countries of concern (China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria) in proximity to military installations or critical infrastructure. If you are a citizen of one of these countries, consult a qualified real estate attorney before proceeding. For all other foreign nationals, owning and refinancing Florida property is fully legal. This content is informational only and does not constitute legal advice.

Non-US citizens can access the equity in their Florida property through a cash-out refinance — without US credit history, without an SSN, and without the runaround from lenders who don’t understand international borrowers.

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Foreign nationals who own Florida property face a frustrating reality: their assets, income, and financial strength are real — but most US lenders don’t know how to document or underwrite international borrowers. Applications stall. Loans get denied. Equity sits untouched.

Foreign national mortgage programs exist specifically for this situation. These are not workarounds — they are legitimate non-QM loan products offered by private and portfolio lenders who specialize in cross-border real estate financing.

At Jhenesis Mortgage, I work with wholesale lenders who have established underwriting guidelines for foreign nationals. I know what documentation to gather, how to present your file, and which lenders are most favorable to your country of origin and property type.

Note on Florida SB 264: Florida law restricts certain property purchases (not refinances) near military installations for citizens of specific countries. If you are a citizen of China, Russia, Iran, North Korea, Cuba, Venezuela, or Syria, please consult a qualified Florida real estate attorney regarding any property transactions. This page is for informational purposes and does not constitute legal advice.

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What Documents Does a Foreign National Need to Refinance in Florida?

Valid foreign passport (primary identification)
12–24 months of foreign or US bank statements documenting assets and income
Foreign credit report or reference letter from your home-country bank
Current Florida mortgage statement showing loan balance
Property insurance documentation
CPA letter or employment verification confirming foreign income (required by some lenders)

An ITIN is helpful if you file US taxes but is not required for all foreign national programs.

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Everything you need to gather before your consultation — organized by document type, in plain English. Stop guessing what lenders want and walk in prepared.

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How Much Equity Can a Foreign National Access?

Most foreign national cash-out refinance programs allow up to 70–75% loan-to-value. Here is a simple example:

Florida property appraised value: $600,000

Max LTV (70%): $420,000

Existing mortgage balance: $250,000

Potential cash-out proceeds: ≈ $170,000

Illustrative only. Actual amounts depend on appraisal, documentation, and lender guidelines.

To explore all Florida cash-out refinance options, visit our Florida cash-out refinance overview.

Frequently Asked Questions

Can a non-US citizen do a cash-out refinance on a Florida property?

Yes. Non-US citizens can do a cash-out refinance through foreign national mortgage programs that use international documentation — no US credit history or SSN required.

What is a foreign national mortgage in Florida?

A foreign national mortgage is a non-QM loan for borrowers who are not US citizens or permanent residents. These programs use foreign bank statements, international credit references, and asset documentation to qualify the borrower.

Do foreign nationals need a US Social Security number to refinance in Florida?

No. Foreign national programs do not require an SSN. Borrowers are identified by passport. An ITIN may be used if available but is not required by all lenders.

How much equity can a foreign national access in a Florida cash-out refinance?

Most foreign national programs allow up to 70–75% LTV. The exact amount depends on documentation strength, lender, and property type.

Does Florida law restrict foreign nationals from owning or refinancing property?

Florida SB 264 restricts certain property purchases near military installations for citizens of specific countries — it does not restrict refinancing. For citizens of China, Russia, Iran, North Korea, Cuba, Venezuela, or Syria, consulting a qualified Florida real estate attorney is recommended before any property transaction.

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