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Buy a house with a down payment of as little as   $10.000 in UNITED STATE, CANADA, BRITAIN, FRANCE, GERMANY, AUSTRALIA, ITALY and get a work and residency permit to live and work in the country. 

London office – 293 High Holborn
WC1V 7NA, London  (+44) 70 31 87 49 91)
UK

18 Sukhunvit Road. Phone: +66  941971488. Thailand

info@gwrealityassociates.org

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Can people from outside of the US or non-US citizens buy and own real estate in the US?

1-featuredYes.  The United States does not place any restrictions on non-US citizens buying and owning real estate in the United States.  However, some countries may place restrictions on it’s own citizens from buying real estate in the US – therefore you should check the rules of your own country to verify you are not under any restrictions from your home country. Many people from outside the US buy real estate here as investments, for vacation homes or for future relocation.   Currently we are seeing lots of buying from people from other countries due to the favorable exchange rate between the US dollar and other currencies such as the Yen and the Euro

Amounts

In the United States, down payments for home purchases typically vary between 3.5% and 20% of the purchase price. The Federal Housing Administration, or FHA has advocated lower down payments since its inception in 1934, and currently, borrowers that qualify for an FHA loan pay only 3.5% for a down payment. With rising home prices in the years from 2000 to 2007, lenders were willing to accept smaller or no down payment, (either through 100% Financing, seller-assisted down payment assistance, government down payment providers, or by providing a combination of an 80% 1st and 20% second mortgages), so that more individuals could purchase homes as their primary residences. Currently, in the United States, the VA or Department of Veteran’s Affairs, offers 100% financing for qualifying veterans. The USDA Home Loan program also offers 100% mortgage loans with no down payment. These loans are available as Direct or Guaranteed loans and are offered to qualifying borrowers purchasing a home in a more Rural Area. Most State Finance Housing Agencies offer down payment assistance. In 2013 the Agencies offer a program that provides assistance to qualifying homebuyers of up to 3% of the loan amount. The money from the State Housing Agencies can be used for down payment or closing costs.

2-featuredHow To Buy Real Estate In The USA: Immigrants, Non-Americans ..

If you are outside the United States and/or a non-US citizen and are seeking a new home or investment property in the USA, I have prepared the following FAQ to answer the most common questions about buying real estate in the USA by non-citizens, immigrants or foreign investors. If you need further information, please feel free to contact us and we will be happy to help.

Down payment

Down payment (or downpayment) is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction. A loan or the amount in cash is then required to make the full payment.

The main purposes of a down payment are to ensure that the lending institution has enough capital to create money for a loan in fractional reserve banking systems and to recover some of the balance due on the loan in the event that the borrower defaults. In real estate, the asset is used as collateral in order to secure the loan against default. If the borrower fails to repay the loan, the lender is legally entitled to sell the asset and retain a portion of the proceeds sufficient to cover the remaining balance on the loan, including fees and interest added. A down payment in this case reduces the lender’s risk to less than the value of the collateral, making it more likely that the lender will recover the full amount in the event of default.

The size of the down payment thus determines the extent to which the lender is protected against the various factors that might reduce the value of the collateral, as well as lost profits between the time of the last payment and the eventual sale of the collateral.

Furthermore, making a down payment demonstrates that the borrower is able to raise a certain amount of money for long-term investment, which the lender may desire as evidence that the borrower’s finances are sound, and that the borrower is not borrowing beyond his or her means.

If the borrower is unable to pay off the loan in its entirety, he/she forfeits the down payment amount.

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Is buying a home in the US safe?

3-featuredYes. If you are working with a trusted real estate broker and/or attorney, buying real estate in the US is very safe and secure, as all transactions are subject to US contract law and most are handled by neutral third party escrow companies who oversee all aspects of the transaction between seller and buyer.

To protect yourself, make sure your purchase contract clearly spells out all terms and conditions of the sale, and request to use an escrow company to handle the transaction. An escrow company will hold your funds and not release them to the seller until the title is transferred to you, unless agreed to otherwise by yourself and the seller.

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$10.000 down payment house


Data on sold house prices provided by Land Registry/Registers of Scotland.