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How can a none resident finance a SFR in California?

Profile picture for user616901
My uncle is a UK citizen but is moving his company to Southern California. He has great credit and many assets in UK but he has little credit history in United States. Which Banks or financial institutions can he go to in order to finance this house. Purchase price is about $625,000 and he is willing to put 25%
Please advice, H. Kazem
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March 13 2012 - US
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Answers (2)

Profile picture for shapiroamg
Typically need two years history of residence, credit and income. Self employment may extend that as tax returns are needed for proof on income. Why the rush? There are probably plenty of good rentals available. It will allow him to live in the area and really figure out his next move.
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March 14 2012
He could try to get financing for the home from his bank in England. We have many people in the same boat, however the banks are quite strict, they need two years of credit history in the States working for a company,not as a contractor. Its frustrating for many because it has truly become an internationals society in many places. 
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March 14 2012
 

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