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Financing a real estate purchase as a foreign national

Started by Melissa King79 · · 👁 3 views · 1 reply

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Participants Melissa King79wearytrucker22
Melissa King79 Melissa King79 NewcomerOP
1 message
joined Jul 2015
#1 ·
Can anyone tell me if there's a way to get a mortgage in America if you don't work domestically or within the US? I've been working in the States for 20 years now and I'm looking to move back home, but I'd rather not pay cash upfront—I'd prefer to put down a down payment and finance the rest. Over here, it's standard to drop 20% and spread the rest over 15 or 30 years. Does anything similar exist back home, and do banks actually approve loans when your income is coming from outside the country? Thanks in advance...
wearytrucker22 wearytrucker22 Active Member
222 messages
joined Dec 2012
#2 ·
Melissa King79 said:Can anyone tell me if there's a way to get a mortgage in America if you don't work domestically or within the US? I've been working in the States for 20 years now and I'm looking to move back home, but I'd rather not pay cash upfront—I'd prefer to put down a down payment and finance the rest. Over here, it's standard to drop 20% and spread the rest over 15 or 30 years. Does anything similar exist back home, and do banks actually approve loans when your income is coming from outside the country? Thanks in advance...

They totally do. If the place is $100,000, you just hand them $100,000 as a savings deposit, and then they'll let you $216667 buy the place at a rate that's basically just 1% higher than what your savings account earns.
Just kidding, obviously.
http://www.bankofamerica.com/mortgages/foreigner-financing-options

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