It is simply a mortgage to a non resident. A foreign national is a legal resident or citizen of another nation. They buy a second home or a vacation home here in the U.S. for personal use. The foreign national lives in the US property only on a short-term basis. Foreign nationals primarily have income, employment, credit, and residency in a country other than the US. But a Foreign National can also be a foreign buyer who is purchasing investment property to rent out or lease. Foreign nationals are for example a borrower with an ITIN (Individual Taxpayer Identification Number), someone with a certain class of work visa, other than the B-1/B-2 visitor visa, International borrowers, US citizens who work abroad and earn income overseas.
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