In some cases, depending on where you reside, one could even get a domestic, (US) mortgage on the property.
In a lot of cases, foreigners will usually make cash purchases for properties in the US but mortgages are available to non US citizens.
Web Reference : http://www.globenetrealty.com
Here is a Blog on Trulia that I received posted should help point you in the right direction:
Have a great day,
Heather Paul, Realtor
Visit http://www.BuyHomeInUS.com, it contains a lot of information on this subject.
Even under the present credit situation, foreigners are able to get a US$ loan from a US bank here in California, provided the down payment is high 40-50%. The interest rate is slightly higher than for US nationals.
The prices here in Northern California are compelling 1/3 of the original values at the peak.
The rental yields are great as well around 10%. There are tax issues, you should contact your cpa on those.
The answers you have recived are all very good and continue to illustrate the quality of professional who posts on Trulia.com.
There will of course be some legal and financial hurdles to navigate but that is the same with any transaction. We have experts who work to make the process as stress free as possible with the primary goal of protecting YOUR position.
I believe the USA market in general is a good investment but as we all know, all real estate is local. My perception is that there are many markets that rose so high during the bubble that they still have not hit bottom For a gambler these may be a fertile market for purchases but I think the markets I serve are a more predictable play.
Of course I would think this way but news reports and analysis by CNN, Business Week and CNBC bears out my view. With local guidance there are fantastic buys on land, residential, commercial, development tracts. Many can immediately create cash flow or be held for the next big price move. The region from Panama City Beach/Destim/Seaside Florida (with the new International Airport under construction) to Orange Beach/Mobile/Dauphin Island Alabama (with Airbus EADS's 40billion US Airforce contract) and onto Biloxi, MS is either growing in value while others are contracting or finding a base of value to rebound from with all the positive economic news bolstering this region.
If you are not familiar with this region called the Forgotten Gulf(TM) , Emerald Coast and Forgotten Gulf then you owe it to yourself to take a few minutes and do some research. If you need help with real estate/business in this region please let us be you guide.
Alabama Realty, LLC
Mobile & Dauphin Island
Coastal investment/2nd home/consulting/1031's
GO Zone (Federal Gulf Opportunity Zone)
(also licensed in Florida)