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Hi all, I previously started a thread in the "Sales" section but did not get much response, so pardon me while I narrow my queries on this specific discussion board.
Would appreciate any information re financing a condo purchase for H1-B visa holder (20% downpayment) - recommendations for mortgage brokers, banks, or any other tips etc.
Thanks in advance!
a bigger questions is "Do you have US credit history?"
I think if you have a US credit history, then it's fine. I am on an L visa and currently buying my first place. I had a momentary freak out when I thought the bank wouldn't give me the loan, but I checked with them and they said it was ok (Citibank), don't know if the same is for other banks, but I'm assuming it is.
Some of the banks are looking for 30% down for many condos. It can be a bit brutal out there.
i bought a condo in SF when I was on H1 with mortgage from Bofa
Hi all, thanks for the responses. I do have US credit history as I've been here studying for a few years since leaving the UK.
Roseslg: Did you go thru a mortgage broker or deal with a bank directly?
we bought after 3 years with a L1 through citibank no probs.
smarty, I dealt with the bank directly. Got a great interest rate as well (3.625).
H1-B is treated the same way as a US Citizen with most banks. There shouldn't be any issues as long as you meet the credit and income requirements.