US banks are reluctant to contact foreign customers, citing a high level of risk. One of the strong arguments to provide you with a mortgage loan is a letter of trust from the largest world bank, in which you should be positioned as a solvent client.
The first thing you need to do to get a mortgage is to open an account with an American bank in the United States (registration period from 14 to 30 days). There should be enough funds on the account to make the down payment, pay bills on the transaction, and an additional reserve. The amount of the reserve should not be less than the amount of 12 monthly mortgage payments, real estate insurance, the cost of assessing the acquired property, all taxes, and fees that are paid during the transaction.
You will also need a letter of recommendation from a bank located in your home country and in which you have an account with a term of at least two years. In addition, the funds should correspond to your annual income, which you must also confirm in writing.
Documents required by the bank include passport, copy of an open visa (Green Card, work visa), credit history, documentary evidence of your place of residence (for example, receipts for utility bills).
The bank can provide you a loan in the amount from 100 thousand dollars up to $20 million, with a down payment of up to 30%, which is significantly higher than for US citizens. The average loan term is 45 days.
Foreigners (with an open American visa) can receive a mortgage loan remotely. The procedure for processing such a transaction will require the involvement of a lawyer or an organization specializing in the processing of such transactions to foreigners. All necessary certificates and letters are sent by mail, with their mandatory certification at the US Consulate (in your country).
The interest rate on mortgages for foreigners is higher than for US citizens and is 5-7% (and in some banks up to 8-10%).
Pay your attention to the fact that without the help of an experienced specialist, it will be very difficult for a foreigner to understand this area.
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