Profile picture for tonyfou

i am from china,can i buy US house with mortgage if i can pay more than 20% of house price

i am from china,can i buy US house with mortgage if i can pay more than 20% of house price,say half of the house price?
  • February 20 2010 - Medford
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Answers (4)

Best Answer

Profile picture for The Morrisseys
You can, but there may be restrictions on when you can sell. I had a client from another country who had to put 20% down versus the lower numbers for residents and then was restricted on selling for at least two years. Needless to say they had to re-locate and are now renting the house out, because to sell they had a pre-payment penalty. Make sure to read all the details of your mortgage. Have an attorney familiar with non-citizen ownership review the loan forms.
  • February 20 2010
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Profile picture for Mark LeMenager

I'd suggest that you plan on putting 30% to 40% down.  You won't find many lenders willing to do 20% foreign national financing.

  • February 20 2010
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You should contact an attorney with experience in this area to help you. If you would like the name of an Attorney who speaks Chinese and is familiar with this situation please contact me through my profile.
  • February 20 2010
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I would contact a lender in the area you are looking to buy in, but yes, with 20% down, you might be able to purchase a home in the US.
  • February 20 2010
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