Home Buying in Kew Gardens>Question Details

Tina, Home Buyer in Kew Gardens, Queens,...

Hi, I am fr Malaysia with one boy working in USA n another studying in Buffalo. I would like to buy a house over there as a foreigner. Is it possible?

Asked by Tina, Kew Gardens, Queens, NY Wed Jul 7, 2010

Buying a house as a foreigner?

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6
It is possible to own real estate in the United States as foreigner.
The down payment increases when u r not the resident here in the US.
0 votes Thank Flag Link Mon Jul 12, 2010
Tina it is possible, but the down payment may be as high as 50% and you would have to show you have the right to work here uin the US. It may be easier to obtain a mortgage through your son who is working here if he has the income to qualify.
0 votes Thank Flag Link Thu Jul 8, 2010
Tina it is possible, but the down payment may be as high as 50% and you would have to show you have the right to work here uin the US. It may be easier to obtain a mortgage through your son who is working here if he has the income to qualify.
0 votes Thank Flag Link Thu Jul 8, 2010
It is possible as all the paper work is and income can be estabilshed.
0 votes Thank Flag Link Thu Jul 8, 2010
It is possible. If you require financing, contact some lenders in the USA and ask them for their requirements and see if you can get pre-approved. You may also want to contact a CPA or tax professional to ask them about tax ramifications of buying a home in the US.
Web Reference: http://teamlefebvre.net
0 votes Thank Flag Link Wed Jul 7, 2010
Yes Tina, it is possible to buy a home in the US and to not be a US citizen. It is important to have a Realtor that is knowledgeable and who can connect you with a mortgage company that is accustomed to working with international buyers. Your type of residency will need to be established, for example permanent resident and a copy of your VISA provided.

If you are paying cash, of course, that will make the process more streamlined. Please let me know if you would like a referral to a trustworthy agent in your area. I would be happy to help connect you.

Diane Brooks
0 votes Thank Flag Link Wed Jul 7, 2010
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