Question Details

Bruce Niven, Home Buyer in 90045

US citizen and non-resident expat couple wanting to buy an investment property.

Asked by Bruce Niven, 90045 Sun Aug 19, 2012

I am working overseas and my wife is a US citizen. I am shortly to give up the green card and will thereby be non-resident alien. We are interested to buy an investment property in the US. We both have good credit history in the US, but she has no income of her own. Because we are buying in a state with state income tax its best if I am not a holder of the title. Neither of us own any other property in the US.

Is it possible for her to get a decent mortgage and for me to be a co-signer without being on the title? Or is there some other way to do it?

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Answers

2
There's a bit more information needed and I would love to advise you further. Under no obligation other than to simply guide you, please give me a call to discuss. I have dealt with this situation before and each time it's different depending on needs.
I look forward to hearing from you.
(818)261-8306

Best REgards,
Sona Gallatin
0 votes Thank Flag Link Wed Aug 29, 2012
Bruce,

I believe the most practical solution would be a hard money lender who will charge above market interest rate, larger down payment and closing costs. You are very limited in today's mortgage world with no income and most conventional lenders do not lend to foreign citzens.

I can put you in touch with someone if you need a reference.

Best,

Michael
0 votes Thank Flag Link Wed Aug 29, 2012
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