Posted on: 24th Oct, 2010 01:01 am
Foreigner with high salary and stable job would like to buy single family home for investment in San Diego. Are there banks in this area that will lend money for a 20%? Or what would be the lowest down payment?
You should provide at least 20% down payment in order to get a mortgage in order to buy a property. If you've 20% down payment, you should contact the local lenders and apply for a mortgage. However, you should have a credit score of 700-720 in order to get a conventional mortgage.
I take over from my daughter, Gabriela. How can I get a credit score if I am a foreigner. I just opened bank acount in US; no history. I prefer to get a mortgage from a bank.
Hi liviuog,
Unless you have an established credit record in the US, the lenders will not be ready to give you a mortgage. If your daughter has an established credit record in US, then she can help you in getting a mortgage.
Thanks,
Jerry
Unless you have an established credit record in the US, the lenders will not be ready to give you a mortgage. If your daughter has an established credit record in US, then she can help you in getting a mortgage.
Thanks,
Jerry
How can I get a Credit Record in US? Should I provide my actual bank history in my contry of residence? Or in other words, is there any way that I can get a bank mortgage as a foreigner and what documents the bank needs? My daughter is not an USA resident and has no credit record, etc.