If you are a foreign national, you may be wondering whether you will be able to get a home loan from mortgage lenders. The law is on the side of foreign nationals, who are legally allowed to own property within the United States, and to receive approval for foreign national mortgage loans. Not only that, but an allowance is made by the United States government for Foreign Sellers to utilize the IRS Code’s Section 1031 to defer capital gains taxes. This makes it particularly lucrative for foreign nationals to own property in the U.S., especially if they work with the best mortgage companies.
Luckily, there are many excellent mortgage companies that provide financing to foreign nationals at a 30% down payment. In fact the best mortgage companies may offer mortgages at an even lower rate, providing that the foreign national has good credit and proof of a solid income. The good news is that many foreign nationals easily meet this criteria.
Some foreign nationals obtain loans from the best mortgage companies for the purpose of owning a personal residence. Others seek financing for investment property. Whatever the reason, foreign nationals will have the same access and rights when working with the best mortgage companies that United States citizens do.
One stipulation that a foreign national should be aware of when seeking out a loan from the best mortgage companies is that a visa will be required in order to close on the property. Obtaining a visa should not be an issue, and often, the best mortgage companies can be helpful in this regard. It therefore behooves any foreign national to inquire about visas in advance.
As a foreign national wishing to own United States property, one can be assured that there are many options available to make that dream a reality. Just make sure to work with the very best mortgage companies available– ones that are familiar with the ins and outs of property law, and you should have no problem obtaining an appropriate loan.