If you can afford to, and if you have enough equity in it, you may consider refinancing your own home and using that money to pay for a property abroad.
Equity is the value of how much of your property you own. In other words, it's how much money you'd get after selling your home and paying off your mortgage. For example, if your mortgage balance is USD100,000 and your home is worth USD400,000, that means you have USD300,000 equity in the property.
You can increase your home equity by overpaying your mortgage payments, which puts extra money into the property, or if the value of the property goes up, either through home improvements or favourable market conditions. Making additional payments will also help you pay off your mortgage earlier and reduce the amount of interest payable. You may, however, be charged for early repayment; this will depend on the type of mortgage you have.
Releasing equity is a way to free up some of that value as cash to help you fund an overseas property. Think carefully about doing this though. Many such mortgages charge compound interest that will add up if you don't pay it as you go along. You'll also receive less than what your house is worth on the market in exchange for the cash.
When you borrow more money against your home, both the size of your mortgage and your monthly repayments will increase. You need to make sure you can afford the repayments to avoid your home being repossessed. House prices can go down as well as up. If the value of your home falls, you could go into negative equity. This is where you've borrowed more money than your home is worth.
In some countries, such as Australia and Canada, banks will not accept foreign property as security for a home loan. They'll also limit your borrowing to a certain percentage of the property's value (usually around 80%). This is called the Loan to Value Ratio (LVR).