Can a Non-Resident Buy a House in the U.S.

The short answer is yes. This article will break down what the requirements are for a this to happen.

Generally, most mortgage lenders would like to lend to a non-resident who is currently residing in the US. These can be divided or categorized into two groups – permanent residents and non-permanent residents. Permanent residents will typically have either a green card and/or a social security number while those with a social security number and no green card are non-permanent residents.

Borrowers which fall into these two categories are eligible for FHA loans provided through HUD or conventional loans provided through the agencies of Fannie Mae and Freddie Mac. The only caveat is non-permanent residents must use the home as their primary residence.

There is no additional cost in any of these scenarios. If you have a green card you will have to provide a copy to your mortgage lender. You will also need to have established credit with an eligible, qualifying credit score as well. You will need to prove your identity, your US address, proof of income and assets just like any other borrower would provide.

As always, please consult with your trusted mortgage advisor as there are other subtleties around nonresidents beyond these basics. Your Home Loan Advisor at Hall Financial is always available to help or answer your questions.