Is it possible for me to buy property in the US?

Question

I am an 18 year old undergrad student at the University of Lethbridge in Alberta Canada. I am a Canadian citizen and have no prior credit history. I want to buy a duplex or fourplex to rent out in St. Louis (where I eventually hope to move). Can I mortgage a property (under $100K) from outside of the country?

Answer 1

The issue isn't that you are a Canadian citizen (non-citizens can own property in the U.S.), the issue is getting a mortgage without a credit history.  Given the credit crunch at the moment, you would probably need $30K to put down on a $100K house (if such a thing exists), and would need to prove that you can pay the mortgage. I am hoping you would nor purchase anything sight unseen.  Your ambition is admirable, this is not impossible, just difficult, but some things in life are just that way and many overcome the difficulties, good luck!

Answer 2

for starters I doubt you'd find an apt complex for $100K in St Louis  and to get better answers you really should talk to a loan officer in the US. Your citizenship isn't the issue, but your credit standing is. You can buy anywhere - but not if you can't get a loan. To find out if you can get a loan - talk to either a local loan officer (familar with US procedures) or talk to one on the US side (it's free)

good luck