Yes, you can buy real estate in California. It's not an issue. However, you may wish to research the financing up-front because that is the part that could be tricky (though quite doable).
I recently helped a client who lives overseas purchase a property for his family in San Francisco. There were great options for him with HSBC Bank so you may want to try them. I recommend that you call Amy Ku or someone else on this resource list: http://sfhotlist.com/resources/recommended-lenders/.
Let me know if I can help further.
There are no restrictions on a Foreigner purchasing property in the United States. However, on the sale of the property, a Foreign Owner will have to pay taxes on the profit resulting from the sale to the IRS at closing. The proceeds will be taken from the transaction at time of sale. Hope this is helpful, Rick
Rick Scherer & Kevin Reder, ALHS, CLHMS, P.A.
Smith & Associates Real Estate
3801 Bay to Bay Blvd
Tampa, FL 33629
I work with a mortgage bank. We are a direct lender with a variance from FNMA that allows us to lend to Canadians that do not have a US Social Security Number.
Our loan program is similar to what Bill Eckler from Sarasota described, except the rates are in the mid 5% range for a 30-year fixed-rate loan.
Let me know if we can help.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
Information contained herein is provided to assist real estate professionals and is not an advertisement to extend consumer credit as defined by section 226.2 of Regulation Z.
The standard infomation for a loan includes includes the following:
credit score of a minimal 700
Interest rates are approx. 8%
minimun finance $100,000
single family, condo, townhomes
primary and secondary/vacation homes only
The other issue you need to deal with is finding the right Broker to represent you. I would suggest interviewing a few and pick the one that works for you best. We deal with buyers from other countries all the time, and understand that there are extra things that need to be done for you that aren't required for local buyers. Always ready to provide a no-strings consult to discuss.
Lance King/Managing Broker
Have a great day,
Heather Paul, Realtor
25% down up to $1 million
38% debt to income ratio
no credit score required
15,20,30 Fixed Rate Mortgages and 5/1 Year ARM
Give him a call 904-564-8657 or email him at firstname.lastname@example.org
Last time I checked, the HSBC option is only for a second home, and you have to have a deposit with them of over $100k. Their rate is very competitive though. If you are looking for a property in the East Bay or Sacramento,
contact us for further assistance http://www.BethanyREInvestments.com. Visit also http://www.BuyHomeInUS.com for further info for foreigners buying a property in CA.
- do you have any US based credit? That is, do you have fico scores as evidenced by the 3 major bureaus?
- do you have an established US bank at an exchange bank?
- can you verify your foreign national status as valid?
what part of CA are you interested in?
best, Jeff Marr
Some other geographic locations in the US would require a down payment as low as 30%, but not the Bay Area.
Please contact me if you need further information.