Home Buying in 94112>Question Details

Gg, Home Buyer in 94112

Can a foreign resident (but US citizen) access <5% 30 year fixed rates?

Asked by Gg, 94112 Wed Apr 4, 2012

I am US citizen living and working abroad, but paying US taxes. I have BofA account for 15 years and FICO score >700. No other properties. Would like to by a single of multi-family home in San Francisco with 20% down. What rates can I get. What are some issues applying as a foreign resident? Does it matter if this will be investment vs. residence? Does it help if it is already rented out? Thanks!

Help the community by answering this question:


I believe most of your questions will be best answered by a knowledgeable lending professional. I recommend contacting Brandon Hoyles of RPM. He knows what he's doing and will explain everything with patience and in understandable terms. His contact info:

Brandon Hoyles
415-713-6938 cell
415-738-7050 office

Best of luck,

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
0 votes Thank Flag Link Wed Apr 4, 2012
If you buy a single family home and occupy it, you should be able to qualify for the best loan on the market. If it's going to be a rental, there will probably be a 1/4%- 1/2% add on fee.

If you are buying a multi family home, you will probably need at least another 5% down and if you are not going to live in it, you will pay a higher rate.

It's best you talk directly with a mortgage professional who can run your credit and look at your income and then decide what you qualify for.

Since you are paying US taxes and showing your income, there is a very good chance you should qualify for a loan.

Best of luck.

0 votes Thank Flag Link Wed Apr 4, 2012
Hi, Yes you can achieve those rates or less at this time if you are temporarily living abroad you. If you rent out the property it may be deemed as an investment property and then the rates would be around 5%. This rates also depend what the loan amount would. I would like to assist you in getting you qualified for the loan and the purchase of the property. Our office is located in San Francisco and we have been in the real estate business for over 30 years. Call me at 415-447-2019 or email me at emaia@amsiemail.com. Good luck!
0 votes Thank Flag Link Wed Apr 4, 2012
Call Jim Argo at 415-292-1993. He's a veteran mortgage professional who can answer your question in detail.

0 votes Thank Flag Link Wed Apr 4, 2012
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