Home Buying in Lubbock>Question Details

Kallie, Home Buyer in Lubbock, TX

We aren't US citizens. Any restrictions we need to know about? Anything we need to be doing?

Asked by Kallie, Lubbock, TX Fri Jan 23, 2009

Looking for a small home or trailer with enough property to keep a horse. TTU student looking for place to live.

Help the community by answering this question:


Hi Kallie,

You need to have credit score to apply for mortgage.

If you have Social Security Number, Credit Score, at lest 3.5% down payment for FHA loan; 10% for convention loan if you have good credit score or 20% down; and your mortgage payment plus all debts (like student loans, credit cards.....) to income ratio (DTI) is no more than 42%; you still may get a loan.

Second way - cash offer.

Third way - you have relatives who trust you and would like to help you get a house. They may co-sign with you.

Fourth Way - private money.

Good luck with your home searching!

(925) 683-1332
0 votes Thank Flag Link Fri Jan 23, 2009
I am not very clear on the answer you would like to have. Are you asking restrictions on buying, borrowing, or legally being able to own property? The housing and lending laws in the US try to be fair for all. For legal advise it may be wise to contact a lawyer. For purposes of borrowing money from a lender or financial institution I will advise to contact them directly. Usually, the borrower must have a valid Social Security number for tax purposes and must qualify like everyone else to meet the lender's requirements.
If you intend to buy property you don't need to be a US citizen. I know in other countries foreigners may not be allowed or experience restrictions if want to buy a house.
Web Reference: http://www.AuriEves.com
0 votes Thank Flag Link Fri Jan 23, 2009
Also. I did just list a property in the country that has 4.03 acres. It is a double wide for $78,500. Let me know if you are interested.

-Oscar Armendariz
0 votes Thank Flag Link Fri Jan 23, 2009
The first thing is call a lender. Unless you are planning on paying cash for a property. The lender will let you know what is required. Especially if you are planning on making it your homestead. (Primary residence.) Please give me a call at your earliest convenience and I would be happy to discuss this further with you.

-Oscar Armendariz
0 votes Thank Flag Link Fri Jan 23, 2009
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