So You Want to Buy Real Estate in the United States?

Well you've come to the right place. There are some things you are going to need to line up before you buy here in the US.

1. Establish credit before you get here preferably a year if possible. Take out a credit card or two at a bank that has a US relationship, make sure you pay on time and ask for your credit report in English before you get here. Make sure you have the address of where the credit agency is located in your home country. The banks want to see  you have 6 months of mortgage and maintenance plus the closing cost coming out of the same account.

2. A good rule of thumb is you are probably going to need a job or enough cash to know you can support yourself, passport, permanent visa, checking account and social security card. Make sure these are lined up either before you get here or apply the day after you arrive. They will take awhile to arrange. Use your credit card to get a bank check for either your rent or down-payment on a house.

3. Contact a Realtor who can help with the documents after you get here.

4. Funds to purchase. It is better if the funds are here in the US 60 days before you purchase, so the funds are easy to verify and where they came from. You will probably need a larger down-payment than a US citizen 30-40%, but that seems to change moment by moment.

5. Contact a mortgage company before you arrive to make sure you have the necessary documents.  The interest rate quotes will depend on your credit history and what the bank perceives it's risk to be. I can help with this as well

Norma Brandsberg, GRI Marks Realty Co., Inc 4119 Boonsboro Rd., Ste. 205 Lynchburg, VA 24503 home office(540) 586-9496 cell phone (434) 426-0837 toll free (800) 551-0975 norma@normasells.com

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