A Nigerian citizen and B1/B2 visa holder purchased a single-family home in Katy, Texas using a full documentation foreign national mortgage through HomeAbroad. The borrower is self-employed in Nigeria and used financing to reduce the amount of cash required upfront while still keeping the loan obligation controlled.
Table of Contents
Investment Highlights
Loan Details
Approved loan amount: $304,990
Loan type: Full Doc
Approximate LTV: 50.4%
Property Details
Property address: Katy, TX 77493
Property type: Single Family House
Purchase price: $604,990
Investment Properties on Sale in Texas Today
The Borrower Profile
The borrower was a Nigerian citizen visiting the US on a B1/B2 visa. He was self-employed in Nigeria and wanted to purchase a home in Katy, Texas.
Because his income was earned outside the US, the file needed to be reviewed through a foreign national lending lens rather than a standard domestic borrower structure. The important part of this file was documenting the borrower’s income, assets, and ability to support the loan using acceptable foreign income documentation.
The Financing Challenge
The borrower could have brought a much larger amount of cash into the transaction, but that would have tied up more capital in one US real estate purchase.
Instead, he chose to finance $304,990 of the $604,990 purchase price. That left roughly $300,000 going toward the purchase price before closing costs and other transaction expenses.
This structure helped him reduce the immediate cash burden while keeping the loan amount conservative. With an approximate 50.4% loan-to-value ratio, the financing request was significantly lower than the full purchase price.
Why a Full Documentation Loan Made Sense
A full documentation loan was the right fit because the borrower had self-employed income from Nigeria that needed to be reviewed and supported with documentation.
For many foreign nationals, the biggest issue is not simply whether they can afford the home. It is whether their income, assets, visa status, and source of funds can be documented in a way that meets lending requirements.
In this case, the borrower’s profile supported a full documentation path because he had income earned outside the US and wanted a mortgage structure that could account for his foreign-national status.
Steven Glick
Director of Mortgage Sales
Ziffy Mortgage
NMLS #1231769Foreign national buyers often assume they need to purchase entirely in cash if their income is earned outside the US. That is not always the case. When the income, assets, and source of funds are properly documented, financing can help them preserve liquidity while still moving forward with the purchase.
Loan Structure
-
Purchase Price: $604,990 - Loan Amount: $304,990
- Estimated Cash Toward Purchase Price: $300,000
- Approximate LTV: 50.4%
- Financing Type: Full documentation foreign national mortgage
Property Overview
The subject property was a newer single-family home in Katy, Texas. The home is listed as 3,189 square feet, with an attached garage and a 0.32-acre lot. Currently, the home is estimated at $570,800 with a rent estimate of $4,206 per month.
What Made This File Work
This case worked because the financing request was structured around the borrower’s actual profile instead of forcing him into a standard US borrower framework.
The Outcome
HomeAbroad helped the borrower finance a portion of the Katy, Texas purchase while allowing him to preserve more liquidity than an all-cash transaction would have required.
Instead of committing the full $604,990 purchase price upfront, the borrower used a $304,990 loan and kept the mortgage structure conservative. For a foreign national buyer with self-employed income outside the US, this is a good example of how financing can support a US real estate purchase without requiring the buyer to drain more capital than necessary into one property.
Key Takeaways for Foreign National Buyers
Foreign nationals do not always need to buy US real estate entirely in cash. If the borrower has acceptable income documentation, verified assets, and a clear source of funds, a full documentation loan can help finance part of the purchase.
For self-employed buyers earning income outside the US, the documentation review is especially important. The lender needs to understand how the income is generated, how it is verified, and whether the borrower has enough assets to complete the transaction.
In this case, the borrower used financing strategically. He did not stretch leverage, but used a conservative loan amount to lower the upfront obligation and preserve more financial flexibility.
