Credit Score in Boston>Question Details

Philip O' Dr…, Home Buyer in Boston, MA

I am moving to Boston from Ireland soon and I am hoping to get a mortgage on an apt. With no credit history in america, will this be possible?

Asked by Philip O' Driscoll, Boston, MA Thu Jul 22, 2010

I will have around $20,000 for a downpayment. The credit score system worries me since I have never had a loan or credit card in America.

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Is that $20000 U.S. dollars Philip? Usually with financing in America for resident aliens they require at least 50% down. Also you would need to provide what type of Visa your are here on and also you would need to obtain a social security number in order to get employment. If you obtain financing in Ireland that could be easier for you but you would want to consult with an experienced international attorney who handles real estate and immigration.

If you need any further assistance I am a member of FIABCI/International Real Estate Federation. I can be reached via
0 votes Thank Flag Link Sat Jul 31, 2010
Get in touch with your current bank. They can lead you to a US bank, possibly transfer funds and make credit report arrangements with them.

This should make it easier to get a loan in the US.

Best of luck,
Bill P
0 votes Thank Flag Link Fri Jul 23, 2010

I would recommend contacting your local bank and having them set you up with a referring partner in the US. I would have to imagine that a system is in place to establish credit based on your current payment history in Ireland. Further, I would recommend renting for 6-12 months so that you get a lay of the land before you decide to set roots. Our real estate economy is such that if you buy immediately and do not like where you are living you will most likely lose money if you sold next year. If you need any further assistance then please do not hesitate to contact me.
0 votes Thank Flag Link Fri Jul 23, 2010
You may want to rent a while before you make a purchase. If you want me send you properties in your price range email me.
0 votes Thank Flag Link Thu Jul 22, 2010
It's not easy, but it can be done. The downpayment will restrict how much you can buy, and I expect your rates will be above the conventional averages.
0 votes Thank Flag Link Thu Jul 22, 2010
Yes. It can be done. Many from other countries have purchased second homes. It is not easy. My experience has been with local banks being more flexible. Also, a good attorney is important. If you need an attorney in Boston who is capable let me know.
0 votes Thank Flag Link Thu Jul 22, 2010
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