I am not a US citizen or resident. I would like to buy a property in the
US to use on occasion. What sort of financing might be available to me and what
would I have to put down in cash to buy?
Although program vary somewhat from lender to lender, mortgage money
is presently available for non-resident aliens on the following basis:
- The Loan to Value Ratio (LTV) fluctuate with a minimum down payment of
20%. Most lenders require a 25% down payment as an industry standard.
- If your down payment is 20%-25% you are required to have the following
documentation: an accountant letter determining the income for 2
years, bank statements with current balance and past two months balance and
US bank account must be opened.
view sample documents link here!
- If your down payment is 30% the only requirement is an application
and a US bank account opened.
Pricing fluctuates but currently our firm can offer a 30 year fixed-rate loan
with zero points. A "point" is a fee charged by many lenders to
initiate a loan. One "point" would be equal to one percent (1%) of the
loan amount. A "zero point" loan would be one in which this fee is
waived by the lender.
If you want more detailed information regarding financing opportunities for
non-residents, please e-mail me at:
Unless otherwise stated square footage and lot dimensions appearing herein are
derived from county records and may or may not be accurate.
If square footage is material to a transaction a survey or other measurement is
recommended. This information deemed reliable but not guaranteed. Current or
previous year’s taxes may not accurately forecast future property taxes.
Property taxes can increase from one year to the next for various reasons.
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