Can non US citizens buy foreclosure homes in the United States?

Author: Rob K. Blake | Date: October 7, 2008 | Filed In: Foreclosure Answers

Sure. Help yourself!

Non citizens buy US real estate all the time, including foreclosure homes. Private parties buy usually as second or vacation homes. Florida has a big constituency of non-citizen home owners.

There are even non-citizen mortgage programs. These mortgage programs are called “foreign national” loans. They require a hefty down payment and a ton of paperwork, but they are available.

Foreign Nationals Buyings US Investment Property

If your question was more along the lines of buying foreclosure homes for investment purposes, then the answer is “Yes” again.

Foreign nationals and foreign companies can own investment property in the US regardless of if they bought it out of foreclosure or not. It wasn’t long ago when Japan was riding high, every one feared Japanese companies would buy every piece of property in Hawaii.

Remember that?

Guidelines of Foreign National Mortgage Programs

Below are some guidelines for Foreign Nationals to qualify for a home loan in the United States with Choice Finance® at 70% LTV:

In United States legally (work visa) What is your Visa status?
Funds in a U.S. bank (no seasoning)
Primary residence, second home, vacation home, investment property
Purchase? refinance? cash-out refinance
Construction loan (requires full documentation)
All loan amounts considered.
Work visa financing available- primary residence only
If your property is in Florida and is a condo, we may need 40% down payment

Hope that answers your question. If not, use the comment section below to get more information.

Thanks!

Author: Rob K. Blake