Could I get a loan from any bank without having the social security in order to buy a house in US?It is the dream of my family to buy a house in the US and all of the members of my family continues to work hard to accomplish this dream. However, I am afraid to find out the high interest that we will be charged when asking for a loan to buy a house without having a social security number...all of us have used... | |
Banco Popular is still lending up to 90% LTV (you must put 10% down) in certain western states (not CA, AZ and others). Their rates are generally in the 8s.
Your other option is to purchase as a non resident alien putting 30+% down. Those lenders are Wachovia, Downey Savings, and others.
With all of these lenders you will need to qualify with paystubs and W-2s, bank statements.
Best of luck!
Biggie is right, it is tough these days to find a lender that would do this but we just closed 11 borrowers from Ireland that were buying property in IL as investments. It was difficult but we found a bank that was willing to lend the money. If you have questions contact me at
[[email protected]] so i can find out which state you are looking to purchase in.
Yes you can. In the past prior to the mortgage industry downfall there were dozens of lenders that catered to those with IRS numbers now there is 1 bank (Banco Popular) and they have very strict guidelines. Plus they require 20 % down.
If your credit history is pulled with this number and you have qualifying ficos you maybe eligible for one of their purchase programs.
Now according to the rules found on the IRS website you are not allowed to purchase property with a IRS number. I would check the website below to confirm.
It is possible but you'll need a substantial down payment, generally around 35%, at least that's the case with Wachovia. They can do the loans as an investment property, but you will have to verify you have a substantial amount of assets as well as be able to verify your income.
I don't know of any banks that would allow you to do this.
