As to the question of qualifying, you may be able to get a mortgage. I donâ€™t know how long you were in the UK but if it was more than a couple of years I hope you maintained some credit here in the states. If not you will need to re-establish a credit score here to get financing. We will also need to verify your employment history for the last 2 years from a foreign institution which I have done, but always poses certain challenges.
Peter Boyle 612 701 6816.
The proposed Central Corridor LRT line, running through the heart of both the East and West Bank campus areas, is scheduled to be completed in 2014 and that will have a very positive impact on resale and appreciation. Your timing could be perfect.
It would be a good idea for you to look at both options, rental and ownership. In so doing, it will become clear to you what will best fit your needs.
The mortage question is a good one. Used to be that you needed a green card to purchase property in Minneapolis. The mortgage guidelines have recently changed dramatically and I'm not sure what the requirement is now. I think the first thing you need to do is to determine whether you can qualify for a loan. There is no point in thinking ownership if it's not feasible. I have a great loan officer, she's got lots of experience, too. You can fill out an application for her online and she can do the research and tell you whether you can qualify for a loan. Her name is Sarah and she has worked with lots of my clients buying in the U area.
It would be my pleasure to help you find a home here in the heart of the metro. Please contact me if you would like my help. Again, welcome!
I agree, maybe you'd be better off renting while you're here. If you really wanted to buy something, maybe finding a foreclosed condo unit in the area would be a better idea. There would be some initial clean up and maintenance, but you may get it at a price that would allow you to recoup costs and posibly get to even.
I'm able to get you in touch with a lender that would be able to see if you qualify for a mortgage.
Thanks for your time,
The other thing to consider is the fact that YOU are responsible for the property if you own it, rather than being able to have the landlord take care of all the details while you are focused on your studies.
I hope that helps.
You can find those projects and other nearby ones in our directory here:
I have a studio condo at the M Flats that will be coming up for sale after the holidays. It's probably the most affordable real estate you can buy that close to U of M campus. Contact me directly if you'd like more info on it.
Our group does rentals too. Check out our web site for those options.