Profile picture for luckilou56

we are arriving from France and as such have no credit ratings in US,HOW DO WE GET A MORTGAGE?

WE WISH TO BUY A HOUSE THAT WE WILL LIVE IN PART OF THE YEAR.WE HAVE ASSETS DUE TO SALE OF OUR HOME IN FRANCE,BUT WE NEED TO SET UP CREDIT RATINGS TO GET STARTED.HOW DOES THIS WORK?
  • May 15 2011 - Rotonda
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Answers (4)

Profile picture for luckilou56
it would be in florida
  • May 18 2011
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For the short term, the answer is to pay cash.  It will take some time to establish credit sufficiently enough to qualify for a mortgage.  I am working with an overseas customer now in the same boat.  He will pay cash and if he chooses can refinance out later to get access to his funds down the road.
  • May 16 2011
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luckilou56,

Florida is always experiencing new buyers from around the world.  Though most of these buyers purchase with cash, you may want to visit a local bank to check on requirements or go online to the larger banks with international presence.  In our area, Southwest Florida, we have offices of most international banks you can name.  Good luck, Bienvenue!

Shawn
  • May 16 2011
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Profile picture for Equestrian16
Where do you wish to live? How much do you wish to pay? Some owners will consider selling to you directly for a large down payment and monthly payments tailored to the seller's requirements, e. g., retired couple who want to sell winter home to go live in sunny Florida.  They want you to pay enough down to ensure you will take good care of house and then they want monthly payments to supplement their pension. So you don't need credit, brokers, etc. Depending on state you will want to close transaction at an escrow company who will make sure everything  is in order.  You will want an attorney to write your contract, unless you want to use the standard forms you can get at most stationary stores.
  • May 16 2011
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