Home Buying in 02476>Question Details

Kondwani, Home Buyer in 02476

I HAVE BEEN IN THE US 5 MONTHS ON AN L-1 VISA, DO I QUALIFY FOR A MORTGAGE? WHO CAN HELP?

Asked by Kondwani, 02476 Sat Jan 15, 2011

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Hello, Kondwani!
It is good that you have an L-1 visa. However, how many years of a credit history in America do you have? A Lender may have to put together an alternative credit history for you. 5 months is a great start, but for international lending transactions, at least 2 years is preferred. Also, you will need 30%-50% down payment.
Also, you are going to need your down payment money in american currency, so if you need to transfer money for the down payment here from your native land, you're going to want to do that ASAP. An international real estate attorney with experience is going to be of tremendous benefit to you. I am on the Massachusetts Association of Realtors Global Task Force, and I'm a member of the International Committee of my local Realtor board so I know of some real estate attorneys who could help you.

If I may be of any further assistance to you, I am a member of FIABCI/International Real Estate Federation and I'm a licensed Realtor in MA. I can be reached at elizabeth@elizabethherbert.com
0 votes Thank Flag Link Mon Jan 17, 2011
Hi Kondwani

You should be able to, talk to a lender or the many fine agents responding.

Good luck.
Perry
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sat Jan 15, 2011
Yes, you need to speak with a qualified broker and I can put you in touch with the best. Also, please feel free to register on my website at http://www.kimsolio.com. There you can immediately start looking for homes that meet your criteria. You will also receive a daily email when new homes come on the market.

Hope to hear from you soon.
0 votes Thank Flag Link Sat Jan 15, 2011
L-1 Visa is a transfer employee visa. So you are working in this country legally and have taxes record. You will have to talk to a good mortgage broker. I did represent many international buyers who is on different visa, and it is different. I can direct you to a good mortgage person. You should really shop around because it will be vary from bank to bank especially in you case.
0 votes Thank Flag Link Sat Jan 15, 2011
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