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Subject:
Getting a Loan to buy real estate in USA
Category: Business and Money > Finance Asked by: drgku-ga List Price: $6.00 |
Posted:
10 Apr 2006 17:39 PDT
Expires: 10 May 2006 17:39 PDT Question ID: 717587 |
can i get a loan to buy real estate in USA if i am not a US citizen and I live abroad? If so, How? |
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There is no answer at this time. |
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Subject:
Re: Getting a Loan to buy real estate in USA
From: jh963-ga on 11 Apr 2006 11:11 PDT |
Do you have any assets a bank can put a lien on? People who lend money are mostly interested in getting repaid. If you can guarantee the loan with existing US assets (other US real estate, for instance) you should be able to get a loan. It will be much harder if you have no US assets, and even harder if you don't plan to live in the property. J. |
Subject:
Re: Getting a Loan to buy real estate in USA
From: jh963-ga on 11 Apr 2006 11:31 PDT |
Thought of another way: If you know someone in the US who will "co-sign" the loan for you, you may be able to get a loan. A good "co-signer" will be someone in the US who has assets that a bank can put a lien on. Yet another way: If you put a sufficiently large down payment, some banks won't care about all of the other usual financial/credit requirements. I don't know the actual percentage, but let's use 50% as an example: So if you can put 50% down on a home, maybe the bank will waive all of the other requirements. J. |
Subject:
Re: Getting a Loan to buy real estate in USA
From: filamguy-ga on 15 Apr 2006 16:15 PDT |
To acquire a bank loan you will need to fill out an application either in person over the phone or online with the bank. It is not required for an individual to be a US citizen or a green card holder to apply and qualify for a loan. If the loan is approved most banks will require you to physically visit them to sign the required loan documentation. If you are unable to come to the US to do that, the bank may allow the loan to be signed in the US embassy in your home country. This process will be quite complicated. I would recommend you do not apply with an individual bank but instead with a very knowledgeable Mortgage Broker based in the state where you intend to make the purchase. Make sure the Mortgage Broker has completed a transaction similar to yours before applying with them. |
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