buying a house as an non-resident alien with h1

Question

My husband has an visa which is a h1b and I am the dependent. We want to buy a house here in Tucson, and the company were my husband works is willing to write a letter that they will go forward to get us the green card. But in mean while we want to buy that house because it is an oppertunity to not let to go by. The price is very good. Our credit score is about 800. Is it possible to buy that house without to many problems?

Ward Arendt · Accepted Answer

We see your situation frequently in Houston. The first thing we  do with our clients is to find out how they will be purchasing a home. This does not make any difference if the client is a citizen or a non-resident or a legal alien. Is this a cash deal or is credit needed? If credit is needed, do they have a bank that they have used? In most cases for legal aliens, it is best to talk to a local bank, in your case one that is headquartered in Arizona. Also talk to your friends that have gone through the process. Your Realtor is a great source of information. Generally, the large money-center banks cannot react quickly enough and are often unable to work with legal aliens in a timely fashion. Being able to make an offer with a "pre-approval" letter from your bank can make the difference of  an offer accepted. Mortgage brokers or mortgage bankers are also a good source of funding. Also, for your downpayment, your bank will require proof that your funds have been in the United States for a certain period of time. This is part of the new banking regulations. A lender should be able to tell you exactly what is needed. As far as a purchase of a property, you will need either as Social Security Number or an ITIN (International Tax Identification Number) to facilitate the transaction. Your husband's employer can help with this if he does not have one already. Remember that this process can take a little more time than if you had purchased a home here in the past. If you miss this "great" opportunity, there will be others that will also be wonderful. Good luck with your quest to be a homeowner!

Ward Arendt

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