7 Best Home Loan for International Students: (Get Up To $50K)

As an international student in a new country, purchasing a home might seem like a daunting challenge.

However, it is possible to secure a home loan (also known as a mortgage) with the right lender.

In this guide, we’ll explore the 7 best home loan for international students, providing a comprehensive look at key loan providers, their terms, and eligibility requirements.

Best Home Loan for International Students

Loan Provider	Loan Amount	Co-signer Requirement	Interest Rates	Loan Terms	Eligibility Requirements
1. Bank of America	Up to $3 million	Yes	6.35% – 7.15%	15 to 30 years	Requires a U.S.-based co-signer
2. Wells Fargo	Up to $3 million	Yes	5.875% – 7.25%	10 to 30 years	Requires a U.S.-based co-signer
3. Citi Mortgage	Up to $2 million	Yes	5.50% – 6.80%	15 to 30 years	U.S.-based co-signer required
4. Quicken Loans	Up to $3 million	Yes	5.25% – 7.10%	10 to 30 years	Co-signer and proof of income required
5. Rocket Mortgage	Up to $2 million	Yes	5.70% – 6.90%	15 to 30 years	Co-signer required, must be a U.S. resident
6. College Ave Student Loans	Up to $200,000	Yes	5.99% – 13.74%	5 to 15 years	Requires a U.S.-based co-signer
7. New American Funding	Up to $2 million	Yes	5.45% – 6.95%	10 to 30 years	U.S.-based co-signer required

1. Bank of America

Bank of America offers comprehensive mortgage options for international students, provided they have a U.S.-based co-signer.

• Loan Amount: Up to $3 million.
• Interest Rates: Fixed-rate loans ranging from 6.35% to 7.15%.
• Loan Terms: Available in 15 to 30 years.
• Eligibility Requirements: Requires a U.S.-based co-signer with a good credit score and proof of income.
• Unique Benefits: The bank provides both fixed and adjustable-rate mortgages, and offers a variety of home loan options based on the student’s financial needs.

2. Wells Fargo

Wells Fargo is a major U.S. bank that provides home loans to international students with the help of a co-signer.

• Loan Amount: Up to $3 million.
• Interest Rates: 5.875% to 7.25% (fixed rate).
• Loan Terms: Available in 10 to 30 years.
• Eligibility Requirements: Requires a U.S.-based co-signer who meets financial and credit standards.
• Unique Benefits: Wells Fargo provides options for first-time homebuyers and the opportunity to apply online for an easy application process.

3. Citi Mortgage

Citi Mortgage offers home loans for international students who have a qualified co-signer based in the U.S.

• Loan Amount: Up to $2 million.
• Interest Rates: Fixed rates from 5.50% to 6.80%.
• Loan Terms: Available in 15 to 30 years.
• Eligibility Requirements: Requires a co-signer and proof of stable income.
• Unique Benefits: Citi Mortgage offers competitive rates and has extensive international banking experience, which can be beneficial for international students.

4. Quicken Loans

Quicken Loans, a well-known mortgage lender, provides international students with the option of securing a home loan with a co-signer.

• Loan Amount: Up to $3 million.
• Interest Rates: 5.25% to 7.10% (fixed rate).
• Loan Terms: Available in 10 to 30 years.
• Eligibility Requirements: Requires a co-signer and stable income verification.
• Unique Benefits: Known for a user-friendly application process and fast approval times.

5. Rocket Mortgage

Rocket Mortgage is a streamlined mortgage provider that offers loans to international students who meet certain financial qualifications.

• Loan Amount: Up to $2 million.
• Interest Rates: Fixed rates from 5.70% to 6.90%.
• Loan Terms: Available in 15 to 30 years.
• Eligibility Requirements: Requires a U.S.-based co-signer and proof of income.
• Unique Benefits: Offers an online application process and flexible terms, making it easy for international students to apply.

6. College Ave Student Loans

College Ave provides financial products geared toward education, but it also offers loan options for international students looking for home loans through co-signers.

• Loan Amount: Up to $200,000.
• Interest Rates: Fixed rates from 5.99% to 13.74%.
• Loan Terms: Available in 5 to 15 years.
• Eligibility Requirements: Requires a U.S.-based co-signer.
• Unique Benefits: The flexible repayment options, including deferred and interest-only payments, make College Ave a solid option for students.

7. New American Funding

New American Funding specializes in catering to the needs of international students with competitive home loan rates.

• Loan Amount: Up to $2 million.
• Interest Rates: Fixed rates from 5.45% to 6.95%.
• Loan Terms: Available in 10 to 30 years.
• Eligibility Requirements: Requires a U.S.-based co-signer and verification of income.
• Unique Benefits: Offers a wide range of mortgage products and home loan options for international students.

Quick One: We have other useful loan articles here.

Frequently Asked Questions

Conclusion

While securing a home loan as an international student in the U.S. may seem complex, there are several lenders offering mortgage options specifically designed for students.

The 7 best home loan for international students highlighted in this guide offer a mix of competitive interest rates, flexible loan terms, and the necessary co-signer requirements.

By carefully considering the details of each loan provider, you can find the best home loan to suit your needs and start your journey toward homeownership.