Looking to buy a condo in Costa Rica, country home in France, or that villa in Italy, but can't cut a check for it? Well, it is possible to get a mortgage on a non-US property without being a citizen in that country.  You will just need to work with a non-US lender. US banks cannot enforce liens on non-US properties, so you won't be able to go down to your local co-op and get a loan. 

If you are looking to buy a property in another country, you will need to contact a loan consultant in that respective area of the world. There are some complications you'll have to deal with, the type that you wouldn't have to deal with if you were looking to get a loan in the US. 

First off, there are higher chances of defaulting and the borrower not paying for the loan. The banks know this and will build in a cushion to protect themselves. So, expect to pay a higher rate than the locals, and to be required to put more money down.

During my tenure in lending in US, we would often see people with a TIN (tax identification numbers), usually from Mexico, applying for loans. We could get these loans done, but it would typically require 20% down. Mind you, this is when banks were offering 103% LTV (loan to value) lnterest-Only loans. 

Keep an eye on our site as we will be featuring an international mortgage section.