Introduction of real estate loan process for new immigrants in the United States

Buying a house in the United States is an important way for many new immigrants to manage their finances, and new immigrants need to understand some problems before buying a house in the United States. I also compiled an introduction to the real estate loan process for new immigrants in the United States. Let's have a look!

Generally speaking, there are two ways for foreigners to buy a house in the United States: one is to buy a house in full, and the other is to buy a house by loan. This issue focuses on: the relevant procedures and processes for foreigners to purchase American real estate with loans.

1. Preparatory meeting

A. Select the buyer's broker

B. Decide on the area and conditions of buying a house

C. Choosing a loan company

2. Review loan conditions

A. Select a loan broker and check the credit score.

B. Choose a suitable loan plan

C. Obtain loan pre-approval letter

Find the ideal house

A. You can check the latest listings through reliable American real estate websites or real estate agents;

B. Or ask the broker to select the listing information.

Looking for a suitable house

A. Pick the house you like, the broker will help CMA evaluate it, and the buyer will decide the bid amount.

Agent B explains the purchase contract and helps to fill in and improve the terms.

C when signing the contract, attach a deposit check (generally, the deposit is about 2-3% of the bid amount).

D. The seller can make a counter-offer against the disagreement, and the buyer can choose to accept or make a counter-offer.

5. The house purchase contract is recognized by both parties.

A. After both parties reach an agreement, a third-party notary company will handle the sale and transfer procedures.

B. Send the deposit to the notary office.

C. sign formal transfer documents and various reports on the house.