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5 Tips when Shopping for a Mortgage as an International Buyer
- March 14th 2019, 4pm
- by CityKinder Admin
Are you thinking about buying an apartment or a house, but you’re on a visa or Green Card and your assets are partly in Europe? Not to worry – it just takes a few more steps of planning and preparation and get all your ducks in order before you start looking. The direct way to secure a mortgage would be with your bank, but surprisingly that’s often not the best bet when you are an expat with international assets.
We asked Mark Rokowsky from MR Capital Group, who specializes in helping Expats fulfill their dream of their own home for a few tips:
- It’s essential that you have an expert mortgage team do a comprehensive financial analysis as early on as possible. Once you find the right home, you will want to be able to get the absolute best mortgage terms and it might be too late by then to do your due diligence. The earlier you have your consultation, the better. In many cases, simple and easy things to do can improve your profile dramatically.
- Make sure to transfer the necessary upfront funds into a US based bank account as soon as possible. Waiting until last minute can cause unexpected delays and push off the signing date.
- International clients each have their own set of unique requirements. Verify with the bank you are applying with that they can meet your specific needs & challenges. This should be reviewed by your initial mortgage consultation.
- Yes, you can get a mortgage with a visa or as a green card holder.
- If a bank denies your mortgage application, then you should follow recommendation number one as mentioned above. Doing that earlier will help you avoid mortgage denials in the first place.
About Mark Rokowsky
A dynamic leader and effective manager, Mark directs with talent and ingenuity. His involvement in every loan ensures a fluid progression and timely delivery. Experienced in the mortgage lending industry since 1996, Mark has become a renowned expert in structuring loans for optimum efficiency and savings. Mark’s creative and analytical thinking enable him to assess and customize each client’s specific mortgage and financial needs. Finding innovative solutions is Mark’s hallmark in providing quality financing.
Find out more about MR Capital Group.