0

What are the conditions for an alien/non-resident American to obtain a home loan?

Say someone has worked in the US for a while, obtained an SSN and left the country for another one. They built assets in other countries and would like to purchase a home in the US. What conditions will such a person need to satisfy to get a home loan and how different would it be to obtaining a loan while you are a resident in the USA?

3

Most common mortgage loans are written for homes that are the primary residence of the buyer. As a non-resident, you would be subject to stricter lending standards as would the buyer of a vacation property. The other tricky item is that you may have a social security number, but your credit report may not have enough history if you have not been using credit reported by the credit agencies in the US.

  • Thanks for answering. Updated tag. Does the importance of credit history depend on the usage of credit ? I would have thought if someone left the US with a good credit score, came back after a few year - would still be able to use the credit score. Which banking institutes could be approached for investing in property, from Australia ? – happybuddha Jan 25 '17 at 4:12

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.