Is there a mortgage program for U.S. citizen living abroad looking to purchase a house in Mount Prospect?

Asked by mandylovell, Mount Prospect, IL Thu May 24, 2012

I am a U.S. citizen living in London, UK and I would like to find a mortgage company that would work with me in purchasing a house in Mount Prospect IL. I have been living in London for 10 years and want to move back . I purchased a apartment and plan to rent it here in London. I have credit in the USA but my job is in the UK, am I able to get financing with a traditional financing program in the U.S.A.. Are there any programs out there that match?

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Jan McNulty, Agent, Mt Prospect, IL
Mon May 28, 2012
Conventional financing would be the route to go. It will require 25% downpayment and interest may be higher. But the big question is who will manage the unit while you are overseas. I know of some companies but management usually is 10% of the rental value.
Web Reference:  http://www.janmcnulty.com
0 votes
Is there anyone you would recommend to speak to about the conventional financing? My family would manage the unit - they live in Rolling Meadows.

Thanks,

Mandy
Flag Thu May 31, 2012
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