Mortgage loans for non US Citizens: Can that be done?

**vegasboy** · 03-23-2008, 09:35 AM

I'm from Cape Town, South Africa wishing to buy my first USA property (condo) in either Orlando Fl. or Rochester NY.

I was told (via email) by a friendly realtor who is doing a lot to assist me that if you make a 30% down payment, you will be able to get a mortgage for the rest from a US Bank, as this is viewed as a low risk deal.

Although I visit the USA often, I live, work and earn my income in South Africa. If this information is correct, it will be to my advantage. Can someone please verify this for me?

Thanks, Roy

**VancouverWa** · 03-25-2008, 01:00 PM

Hi Vegasboy,

Next time your in the States, call a local lender and ask them. I sell property to Canadians all the time so I'm not sure there will be a problem.
The only stumbling block would be the documentation of your income, but a good lender can help you out with that.

Best of luck

**SuperJumbo** · 03-29-2008, 08:27 AM

your assumptions are correct. almost all lenders will require at least 20-30% down payment when lending to a Foreign National. In addition, you will either need a Social Security Number or a US-issued Tax ID Number, so you can be identified.

For larger dollar purchases you will most definitely need to provide your home nation's equivalent of US tax returns, in addition to your asset documentation (which will be converted to US dollars for qualifying purposes).

I hope this information helps, and I wish you the best of luck!