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Q: Getting a Loan to buy real estate in USA ( No Answer,   3 Comments )
Question  
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?
Answer  
There is no answer at this time.

Comments  
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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