Home Buying in Los Angeles>Question Details

Ros_883, Home Buyer in Los Angeles, CA

Can i buy a property if i am on a tourist visa ? I can put download of 20 % but for the rest i would like to get a loan from a local US bank

Asked by Ros_883, Los Angeles, CA Tue Aug 16, 2011

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Hi Ros, absolutely. I've worked with multiple international buyers and a good way to go would be to perhaps speak to a bank that has international presence, such as HSBC. One of my international clients was able to obtain an HSBC home mortgage through a local branch because of her relationship with her bank back at home. Definitely something to look into. Best of luck!
0 votes Thank Flag Link Tue Aug 30, 2011
It would be best if you spoke with a loan officer.
I can get you in touch my network of lenders who can give you the most accurate answer to your question.

I would love to discuss this more in detail with you and the opportunity to earn your business.

Hope this helps.

David Akram
Realtor, DRE# 01891274
Notary, Certified Loan Signing Agent
661-505-8550
Century 21 All Moves
Web: http://www.DavidNewHome.com
Blog: http://blog.davidnewhome.com

Contact: http://contactme.davidnewhome.com
Web Reference: http://www.DavidNewHome.com
0 votes Thank Flag Link Mon Aug 29, 2011
This is a question you really should speak in detail with a loan officer or mortgage broker. Anyone can buy real estate in the United States. You really just need a good loan officer to access buying property here with a mortgage loan. Feel free to call me or contact me anytime if you need a loan officer, I know of a couple I could put you in touch with.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
0 votes Thank Flag Link Thu Aug 18, 2011
Ros,

The availabilty of loans for you would be very difficult. You need to have U.S. credit, U.S. tax ID and approximately 60% down payment. Basically, the US banks want ot make sure you are established in the United Sates with income, credit and be more than a strong investor for them to give you a loan. If you have an established realtionship with an American bank, I recommend you talk to the bank managing president.

If i can be of any further assistance, do not hesiate to contact me. Best of success to you.

Lori Donahoo
REMAX Westside Properties 310-614-8024
0 votes Thank Flag Link Tue Aug 16, 2011
Hi Ros, I am a French/American real estate agent and approximately half of my transactions are with foreign buyers (European, Australians, Chinese, Russians). I can put you in touch with the right people for a loan and I can help you find great deals in Los Angeles. Give me a call if you are interested. Cheers!
Michel Bron - Keller Williams Realty (310) 467-8042
0 votes Thank Flag Link Tue Aug 16, 2011
Hi Ros;
If you have a US tax id (Social Security #) and have paid taxes for at least two years in the US, then you should be able to buy property using any method available. If you pay taxes overseas and/or are a non-citizen and/or do not have a US tax id, then the minimum down payment is currently 50-60%.
These are the general guidelines. If you have a private banking relationship, check with your bank.
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) 818.564.6591
http://www.thebremnergroup.com
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
0 votes Thank Flag Link Tue Aug 16, 2011
Please try contacting Lisa Banhagel with Bank of America, you can reach her best via email at Lisa.Banhagel@BankOfAmerica.com , I know she can help you out.

What kind of property are you interested in buying? Shoot me an email directly or give me a call, I don't look back here on this same Trulia thread for answers posted after mine.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Tue Aug 16, 2011
Ros,

Lenders for these types of transactions are limited. What many of our international clients do is get a foreign investment loan in their home country, although they may require more than 20% down. Check with several lenders, maybe try some banks from home that have offices here...
0 votes Thank Flag Link Tue Aug 16, 2011
Yes, you most certainly can purchase property. If you're interested in San Diego we would love to introduce to some real Coastal bargains. San Diego is considered "America's Finest City". There's a tremendous investment and ownership potential here and we would love to have the opportunity to get t know you. Please feel free to log onto our website and if you have any questions you can contact joseph@arendsengroup.com or call me: John Arendsen at 760 815-6977
0 votes Thank Flag Link Tue Aug 16, 2011
Call me please, I have lenders who handle international transactions.
Sue Wylie 213-226-8716
0 votes Thank Flag Link Tue Aug 16, 2011
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