Can a resident of another country buy property in the US?

Question

I have a friend who lives in Sweden who wants to buy investment property in the US. He does not plan to move here...purely investment purposes and possible vacation use. I spoke to Countrywide Mortgage and they won't lend to non-citizens. Do all lenders require the borrower be a resident?

Answer 1

Yes there are lenders that will lend to aliens with the proper visa and legal status in the United States.

They are still required to present proof of the ability to pay the mortgage, proof of employment and other qualifying requirements necessary to obtain the mortgage.

You should look in your local telephone book and find a mortgage broker. He will be able to place your loan with the proper lender at about the same cost and interest rate as going to a bank.

Most lenders offer the same programs as to any applicant as they can not discriminate based on race, creed or national origin

I hope this has been of some use to you, good luck.

"FIGHT ON"