Financing in New York>Question Details

Luke Martin, Home Buyer in New York, NY

I am relocating to NY from the UK. Will I be able to get an NY mortgage?

Asked by Luke Martin, New York, NY Tue Jan 8, 2008

Help the community by answering this question:



I'm a mortgage broker and a Certified Mortgage Planning Specialist here in NY. Take a look at the link to CMPS to understand a little about this designation.

Please feel free to contact me at your convenience regarding financing.
0 votes Thank Flag Link Wed Jan 23, 2008

I am Certified International Property Specialist and have done several transactions for international buyers, but not licensed to service you in NY.

Yes, you can get a loan, but you will need a larger down payment, and documentation. Use a Realtor and a lender who have experience and contacts in this segment, as it will make the process much smoother.

The Realtors who post on your Thread who work the NY area here will be a good source for potential reperesentation. And, of course, good input and advice can come from others who traveled the same road that you did. You have a good starting point with some of the individuals below.

About CIPS - Certified International Property Specialists - There is a member search link, here also.
0 votes Thank Flag Link Sat Jan 19, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
You should have no problem.I had people with no Green Card and permamemt residence get mortgages over here.
0 votes Thank Flag Link Thu Jan 17, 2008
My (English) husband and I faced the same challenge when trying to purchase an apartment in New York City in 1999. I was shocked at the amount of proof we needed for the loan. We put a lot more money down on our first apartment than most Americans are made to do, and were made to liquidate stocks etc. It was a challenge to establish good credit, but we have.

A friend recently moved from the UK and she banks with HSBC. Because HSBC does business in both the UK and US they were able to convert her UK credit into an US credit score. Might be worth checking into.

We have bought and sold three homes since 1999 and have been able to establish great credit. My advice: speak to your bank manager before you leave the UK. Also, find a US Mortgage Professional right away. If I could help you more please contact me at Good luck and Welcome!
0 votes Thank Flag Link Tue Jan 8, 2008
You do need to speak with a good Mortgage specialist. If you have a good relationship with a bank in the UK, speak with your bank manager there and see if you can get them to connect you with someone specific at their NYC location. You'll need letters of reference from your bank manager and your employer, etc. I'll be happy to help if I can. I used to do relocations the other way - US to UK - and I lived in London for several years.
0 votes Thank Flag Link Tue Jan 8, 2008
You'll have to speak with a mortgage professional and they'll help you determine whether or not you'll qualify for a mortgage. I know of a couple of mortgage brokers in Manhattan that have loan programs for international buyers. Feel free to contact me for their information.
0 votes Thank Flag Link Tue Jan 8, 2008
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