Profile picture for murdoq1

what credentials do you need to buy a house if you are not an american citizen

  • January 22 2009 - Paterson
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Answers (3)

Profile picture for Marc Paolella
If you are a foreign national, the main credential you will need is cash. Usually about 30-40% down to get a mortgage.
  • January 22 2009
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Profile picture for natewolf

Let me clarify my previous post. The banks will not technically score you differently on credit obtained in the U.S. However, credit from sources outside the U.S. are weighted differently.

Case Study: An Argentinian client a few years ago had great credit in theory. He had a work visa and lived in the U.S. for nearly 10 years. He had great income. But, he had credit from Visa, MasterCard, and AmericanExpress which were issued to him in Venezula. So even though he had all of this great credit, it was not technically from U.S. banks. So he had to put down a larger down-payment to obtain his mortgage.

  • January 22 2009
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Profile picture for natewolf

This depends on how you intend to pay for the property. If you intend to pay cash, you will simply need to prove your identity. In fact,"national origin" is actually a protected class in the United States, and it is illegal to discriminate against you based upon your lack of citizenship.

In terms of credentials, there are no requirements for citizenship to purchase property in the United States. The only requirements relate to obtaining a mortgage (financing) from a U.S. Bank. Banks are allowed to have different lending and credit scoring for non-citizens.

  • January 22 2009
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