How to Buy a Home in the US for Non-US Citizens

There's a lot of confusing information out there about whether or not you need to be a US citizen in order to buy a home in the USA. So, we're here to clear things up for you if you're interested in buying a property in the U.S., even if you're not a citizen!

So the next one we're going to talk about is answering the question...

Do you have to be a US citizen to own property in the US?

The answer is no, you do not. If you’re not a US citizen, you call in a couple of different categories. You’re either a permanent resident alien, on a work visa, or what’s considered a foreign national in the mortgage world, which would mean no social security number, no work visa. Any of these can own a home here in the US.

Buying a Home in the US for Permanent Resident Aliens

Ultimately, a permanent resident alien is viewed in the mortgage world as a US citizen. So all rules apply as if you're a US citizen. 

Buying a Home in the US on a Work Visa

If you're on a work visa, mainly an EAD, you can do FHA, you can do conventional, you can do any loan that a US citizen can do or a permanent resident alien can do. If you're on an H-1B, which is a very specific work visa, you can do conventional, you cannot do FHA, you've got to have H-1B and EAD. But with any work visa similar to an H-1B, you can do a conventional loan just as a US citizen can. 

Buying a Home in the US for Foreign Nationals

If you are considered a foreign national, there are products available but you've got to have a little more money in the bank. You're looking at about 25% down and 12 months of reserves. Reserves being one month's reserve equals one projected mortgage payment. The goal here is 25% down and in 12 months reserves are still left in the bank and you put the 25% down and you can own a home in the United States. 

It's so possible for foreigners to own a home in the US and these are the keys is if you want to own a home. You can just get with us and we'll guide you through that.

Are you thinking of buying or selling a home in the Nashville – Middle Tennessee area, call me at (615) 930-0313, schedule a call with me, or send me a message! I love helping people and using my financial and legal background to guide you in finding your dream home!