Buying houses?

Hi

I am British & currently living in the UK but considerng moving to the states in a few years with my boyfriend who has dual nationality (British/ American).

We'd like to buy relatively soon after we get there but want to know really how difficult it is.

We would have to obviously get a mortgage but I guess banks would want a credit rating & you have to build a credit history in the states. How long can this take?

Any advise on this subject would be welcome!

Thanks!

Hi, the common way to buy a house is to get a mortgage. You can also buy a house other ways such as:
1. Seller Financing: you give the seller a note for the purchase price with a certain time to pay it off. For example, $200,000 note due in 36 months. This gives you time to build a credit history in the states while you own the house. I advise your first offer highest price with no money down. Then lower prices with money down if you want.
2. Rent to Own: you have the option to buy within a certain period of time - this gives you time to build a credit history in the states while you lease with the option to buy.
With the number of houses for sale in this Buyer's Market increasing and prices decreasing you can pick up a good deal and seller are more willing to negotiate on terms and accept seller financing and rent to own options.

You would need a credit rating and a source of income.

Some mortgage companies offer loans without a SSN. CitiMortgage offers this type of loan, but you would need a 30% down payment and massive assets, just to name a few things.

What kind of proof do you have from where you live now that you pay on time? if you have receipts? and bring them and have enough for the down payment and closing costs you may be just fine. They care that you will pay the mortgage back! prove that and they should help you out! Good Luck IF you are coming to TX call me we'll work on it!