You don't need to be a citizen or even have a green card to buy a home in the US. To get a mortgage you will need to have stable employment (same as any US citizen), and make enough money to be able to pay the mortgage (same as any US citizen). You will also need to have a social security number (same as any US citizen).
In terms of credit, because you have been here for only 16 months you may or may not have enough credit to qualify. However, depending on how you came to the country you may be able to still obtain a mortgage. For example, some lenders have mortgage products designed specifically for foreign nationals transferred by multinational companies.
I hope this helps. Please feel free to let us know if you have any further questions.
Jose Dias, REALTOR
Realty One Scottsdale
What is your citizenship status? What type of card or visa do you have?
I just closed a loan where the applicant became a US citizen during the loan process. I have another client we are financing who has a green card.
Let us know your status and we will be better able to give you the needed advice.
Welcome to the US. We have many recent immigrants buying homes. Your VISA status may be one factor a lender will consider along with your job, established credit, income & assets. If you are paying cash, you won't run into too many problems.
One factor to become familiar with is a tax you may encounter when you sell called FIRPTA, the Foreign Investment Real Property Tax Act. When you sell, depending on your status, some of your profit may be retained as a tax. I've attached a link to a full explanation of the subject.
Wire funds only ( for earnest money, closing funds)
We need marital status (if married, husbandâ€™s/Wifeâ€™s name)
Documents will have to be notarized at the US embassy .
Question? Have you applied for citizenship? Are you employed in the US? Or buying with cash?
If you are you requesting a loan you will need to apply with a lender.
Please see my blog for a list of tips and advice on getting a mortgage