Home Buying in USA>Question Details

Dosia E Fran…, Home Owner in Jacksonville, FL

What are the requirements in purchasing property in the US for non citizen?

Asked by Dosia E Francis-Cantoni, Jacksonville, FL Fri Nov 9, 2012

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The requirements are the same for a non US citizen for the actual purchase. Financing would be different. When you go to sell your property a tax of approximately 10 percent would be held back (each state may have their own hold back rules some may be 20 percent) a good question to ask your Realtor if they don't know move on to the next one because they have not dealt with non US citizens before.
Web Reference: http://www.TheBeachLady.com
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All traditional mortgages (i.e. FHA, VA, USDA and Fannie Mae/Freddie Mac for Conventional) are going to require a certain citizenship status. You must be either a US Citizen, a Permanent Resident Alien, or a Non-Resident Alien. A Non-Resident Alien will require only certain Visa statuses and additional requirements.

You must have a verified 24 month employment history with 2 years of US filed Federal Income tax returns. A US credit history is also required. Anyone not meeting these definitions would likely be considered a Foreign National.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
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