What is the interest rate of American housing loan?

Conditions for China people to borrow money to buy a house in the United States

Nowadays, vicious and successful people know about investment, especially real estate investment. I hope to maximize the investment benefits with the help of capital advantages. So, how can China people get loans smoothly in the United States? Let's talk about the conditions for China people to borrow money to buy a house in the United States.

first of all, let's find out, as a foreigner, are you eligible for a loan?

what are the requirements for foreigners to apply for a mortgage in the United States?

it's normal!

in the United States, the core principle of mortgage loan issuance is that the collateral value is sufficient, the applicant has a good reputation and a continuous source of income, which is not directly related to the applicant's identity and nationality.

As an overseas person, the requirements for obtaining a mortgage in a US bank are relatively high. If there are related deposits, investments or other active accounts in the bank, or if the holders of work visas have a long-term record of stable income and expenditure, it will be "extra points" for loans in the United States!

At present, in most states in the United States, foreigners (without American green card) can buy American real estate through loans, but the down payment is usually 4-5%, and because they don't have American credit history and proof of income source, lending institutions will require lenders to pay extra interest of 1%-2% higher than the market level.

green card holders have lower requirements for applying for a mortgage in the United States?

not really!

As a permanent resident, that is, a green card holder, he can only apply for a house loan after the bank has established relevant personal credit records. Different banks have different lending policies and conditions, but as long as they meet the requirements, banks are still willing to lend to overseas applicants with higher comprehensive qualifications.

before and after the green card, or more precisely, before and after the first tax return, the operation of buying a house with a loan is very different. It is much easier to get a loan as a foreigner before obtaining an identity. Once you get the status, it is almost impossible for newcomers to get a mortgage, because some hard requirements can't be met at all, such as tax return records, credit, income and so on.

the process of applying for a mortgage in the United States

First, let's understand the process of applying for a mortgage in the United States. The process is similar to the domestic mortgage application process, which can be roughly divided into:

choosing a lending institution-obtaining the pre-qualification of the lending institution-the lending institution verifies the applicant's qualification-real estate assessment-the lending institution lends money.

it is divided into the following seven steps:

(1) consulting the lending institution that can provide you with loans

(2) comparing the interest rate and the term, determining the lending institution that can provide you with the most suitable tolerance

(3) obtaining the pre-qualification of the lending institution that accepts your financial and identification information

(4) providing all relevant income according to the instructions of the lending institution. Identity and other required information for review

(5) Mortgage companies conduct real estate assessment to determine the value

(6) Deal with mortgage loan staff

(7) Settlement of loan transaction package fee institutions

Types of American mortgage loans

If the loan purchase conditions are met, then you can consider the loan type.

The common loan term in the United States is 3 years. You can also choose 5 years, 7 years, 1 years, 15 years, 2 years or 4 years according to your own repayment ability.

At present, the average loan interest rate in the United States is around 4-5%, and there are two main types of loans, floating rate loans and fixed rate loans.

(1) floating rate loans (ARM)

usually divided into: 3/1, 5/1, 7/1ARM, which means that the interest rate is fixed for the first three years, five years and seven years, and then the interest rate fluctuates according to Libor and other indicators.

for example, on November 16th, 211, I bought a house of $3, in Los Angeles, California, made a down payment of 4%, and applied for a 5/1ARM loan. The loan interest rate for the first five years was 4.132%, which fluctuated from the sixth year.

(2) fixed-rate loans

Common fixed-rate loans have 15 or 3 years, and the annual interest rate is fixed.

for example, on November 16th, 211, I bought a house of $3, in Los Angeles, California, with a down payment of 4%, and applied for a 3-year fixed loan with an interest rate of 4.799%-5.54%.

in the short term (within 3-5 years), the interest rate of floating rate loans is relatively fixed, and the interest rate is about .5-1% lower. However, in the long term, there is a risk that the interest rate of floating rate loans will increase significantly. Therefore, for short-and medium-term investors, floating interest rate loans are more worthy of consideration.

For buyers who pursue safety and have low long-term risk tolerance, fixed interest rate is more suitable. Both types of loans have their advantages and disadvantages, and buyers can do it according to their own financial situation.

How do foreigners get in touch with American lending institutions

(1) Loan brokers

More than half of housing loans in the United States are completed through loan brokers, who are intermediaries between borrowers and lenders. The loan broker can negotiate the fees directly with the buyer, and can achieve the lowest loan interest rate and the least expenses for you. Therefore, it is a good choice to find a "reliable" loan broker for those who are not familiar with the US loan purchase affairs. However, professional services will also charge a certain fee, and loan brokers usually charge 1% of the loan amount.

(2) Commercial banks

The loan interest rates provided by commercial banks such as Citibank and Bank of America are very competitive. If you have a checking account or a deposit account in these businesses, you can also enjoy preferential loans.

(3) mortgage bankers

mortgage bankers can provide loans for you on behalf of one or more banks, but such loan services are limited to the customers of these banks. For most China investors, consulting American commercial banks with branches in China is the main way to borrow money.

when contacting American mortgage lenders, you must discuss with employees who have been trained in foreign mortgage loans. When you are in contact with mortgage employees of different banks in the United States, find out the interest rates, qualification requirements and regulations applicable to foreigners. Discuss with a number of lending institutions to select the bank that can provide you with the best interest rate for the loan you need.

Is it less interest to buy a house in the United States with an American green card?

If you want to invest and buy a house in the United States, you certainly don't want to miss such a good opportunity. However, there are still some differences between buying a house in the United States with or without a green card. Let overseas Chinese invest in the United States to interpret them one by one:

There is no limit to the eligibility for buying a house

The federal government of the United States has never prohibited foreigners from buying real estate in the United States, and any foreigner can buy a house in the United States.

The United States is a country that welcomes foreigners to invest or buy real estate in the United States, and there are almost no restrictions on buying a house.

The conditions for foreigners to apply for a mortgage are more demanding than those for locals

In the United States, the interest rate of local people (locals refer to people with American green cards or American citizenship) is generally lower than 4%, but foreign buyers usually aim at investment, so the interest rate they can get will be 5% or even higher. Moreover, in most states in the United States, although foreigners (without American green card) can purchase American real estate through loans, the down payment is usually 4-5%, and the lender also needs to provide cash proof, asset proof, passport, income proof, credit record, American bank account and proof of current residence address.

what is the mortgage interest rate in the United States?

(unit: thousands of US dollars) (a) Within three years, the interest shall be calculated at the rate of 3,,4.25% 3 = 38,362.5 US dollars, calculated once every three years. (unit: thousands of dollars)

American mortgage interest rate

American mortgage interest rate

As of March 222, the average interest rate of 3-year fixed mortgage in the United States was 4.42%.

as of March, the average interest rate of 3-year fixed mortgage in the United States was 4.42%, which was higher than the average interest rate of 4.16% last week. In the same period a year ago, the average interest rate of 3-year fixed mortgage Sakura Biyou loan in the United States was 3.17.

Previously, many research institutions have warned that the Fed's tightening of monetary policy and raising interest rates may impact many types of assets, including the US real estate market. As the Federal Reserve further raises the interest rate level, the mortgage interest rate in the US real estate market may face further upward pressure. The current 3-year mortgage fixed interest rate in the United States, the mortgage interest rate in the US real estate market may face further upward pressure.

was 3.41%; The fixed interest rate of 15-year mortgage is 2.74%; The floating interest rate of 5-year mortgage is 2.68%, and there will be some differences among banks. The specific link is based on the actual situation;

November p>218 US mortgage interest rate

November US mortgage interest rate report

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Youtoufang

Youtoufang is a professional team that analyzes American real estate big data, helping Chinese to analyze American real estate investment trends.

Abstract:

Although the p>3-year and 15-year mortgage interest rates were adjusted in October, they generally rose sharply. The average values are 4.83% and 4.25% respectively.

the interest rate of 5/1 arm adjustable mortgage continued to rise in October, with an average of 4.8%.

You Toufang today compiled a survey of loan interest rates of major financial institutions in the United States released by FreddieMac. To understand the operation process of loan in the United States, please refer to the previous related contents of the U.S. guide to buying a house: the guide to buying a house in the United States-the preparation manual before applying for a mortgage.

Average weekly mortgage interest rate: the overall mortgage interest rate decreased in November 218

Source: FreddieMac

According to the statistics of FreddieMac as of December 6, the average 3-year fixed mortgage interest rate in the United States last week was 4.75%, the average 15-year fixed mortgage interest rate last week was 4.21%, and the average 5/1ARM adjustable mortgage interest rate last week was 4.. In November, all interest rates fell to varying degrees: the 3-year fixed interest rate continued to decline, while the 15-year fixed interest rate and the 5/1ARM adjustable mortgage interest rate fluctuated slightly, but the overall trend was downward.

average monthly mortgage interest rate: in November 218, the mortgage interest rate showed a downward trend

#3-year fixed mortgage interest rate

The monthly average of 3-year fixed mortgage interest rate in November this year increased by .4 percentage points compared with the previous month, but from the trend, it experienced a rapid growth of interest rate at the end of October, and the interest rate in November showed an obvious downward trend. The average cost points are maintained at .5.

#15-year fixed mortgage interest rate

In November, the monthly average 15-year fixed mortgage interest rate also increased by .3 percentage point compared with last month, which was partly caused by the high interest rate at the end of last month, and the interest rate showed an obvious downward trend this month. The average cost points remained at .4.

#5-year adjustable mortgage interest rate

The 5/1ARM adjustable mortgage interest rate in October fluctuated at the end of last month, showing an obvious downward trend in November, and the monthly average was .3 percentage points higher than that in October. The average cost point is .3.

Note: 5-year adjustable mortgage interest rate means that the loan is repaid at a fixed interest rate in the first 5 years, and the remaining loans are paid off at a floating interest rate, which is adjusted once a year with market changes.

# Available Credit Index

The available credit index rose to 188.8 in November. The available credit index measures the strictness of credit standards. When the available credit index rises, it means that credit has become loose. According to the report of Mortgage Bankers Association, the government credit has remained basically unchanged while the traditional credit supply has increased, which has led to the increase of credit index.

Available credit index

Source: Mortgage Bankers Association

The mortgage interest rate has a downward trend but is still rising this month

In p>218, the GDP growth rate in the third quarter of the United States was 3.5%, exceeding previous expectations. Since entering 218, with the Fed raising interest rates, mortgage interest rates have also entered an upward channel. Although the interest rate performance in November has eased, it is difficult to stop the upward trend of interest rates.

data source: FreddieMac；; The shaded part is the estimated value

According to Freddie Mac's forecast report, if the mortgage interest rate rises while the labor market remains strong and income increases, then the US real estate market is expected to continue to grow moderately in 218 and 219;

Although the sales of existing homes may be difficult to surpass the best performance in 217, the sales of new homes should provide enough growth to promote the increase of total housing sales in the United States in 218, and it is expected that the sales volume will increase moderately this year and next;

The housing market is still in short supply, and the housing price will continue to rise. However, the recent increase in housing supply will slow down the growth rate, and the housing price is expected to increase moderately. It is estimated that the housing price in the United States will increase by 5.1% in 218, and the growth rate will continue to slow down to 4.3% next year.

due to the increase in loan interest rate and the decrease in refinancing, it is expected that the number of new loans will decrease this year compared with the previous year. However, in the long run, the increase in housing sales and the moderate increase in housing prices will promote the increase in the number of new loans to offset some of its effects, and it is expected that the number of new loans will decrease slightly in 219.

The mortgage interest rate rises, and the monthly supply increases

According to various data, the mortgage interest rate will continue to rise moderately in the future, which will directly affect the increase of the monthly supply. Therefore, buyers who plan to buy a house should lock in the interest rate as soon as possible to save money.

If the mortgage interest rate continues to rise in the future, the monthly repayment amount of the buyers who purchase houses with loans will increase.

the picture above shows the monthly repayment amount of 3-year fixed-rate mortgage at different interest rates and loan quotas.

For example, the interest rate of 3 fixed mortgage is increased from 4.5% to 5%.

If the loan is 35, dollars, the monthly payment will be increased from 1,773 dollars to 1,879 dollars, and the monthly payment will be 16 dollars more.

If the loan is USD 65,, the monthly payment will increase from USD 3,293 to USD 3,489, and the monthly payment will be 196

The ranking of global mortgage interest rates in 222

The top ten global mortgage interest rates in the world in 222 are as follows. 1. Argentina is 19.5%. 2. Brazil is 13.75%. 3. Russia 1%. 4. India is 8.6%. 5. 5.81 percent in the United States. 6, China, 4.1 percent. 7. South Korea 3.9%. 8. 3% in the UK. 9, France 2% left. 1. Germany 1.9%.

That's the end of the introduction about the interest rate of American loans to buy a house and the interest rate of American loans to buy a house. Have you found the information you need?