Purchasing a home for H1-B VISA holders....?

Asked by Richard Likness, 20136 Fri Jan 18, 2008

I'm a Canadian on a 3 year VISA and would like to buy a home. In today's market are there loan programs available that will not take advantage of me? ie. FHA? I'm positioned with 3-5% for a downpayment and am looking for "The Deal" or "The Bargain" but at the same time am worried about how to pay for it. Can I still do 3% with a HELOC to make up the rest of the 20% downpayment and get a 30 year fixed conventional?

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Manju, Home Buyer, Manassas, VA
Tue Feb 5, 2008
well i don't think so. you visa status is nothing to do with your buying. loan is for the house and they check your credit etc... but as a visa holder i can tell you, shop around and find the intrest rate instead sticking to one....
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bonbon, Home Owner, Edgewater, MD
Fri Jan 18, 2008
I'm also on an the same visa, and I don't think anyone will take advantage of you. They'll probably factor that thing in, and will probably increase interest rates somewhat, but not by much (0.125-0.25%, if at all). I don't think having US citizenship is a pre-requirement to buy property here. Just another great thing about this country :)
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