Buying a house in the United States as an immigrant is not as easy as it might seem.
A purchase of this magnitude can go beyond monetary worry. It can mean tranquility, union, and optimism toward the future.
Without going too deep, we share 6 TIPS for owning a home in the United States as an immigrant:
Set a budget
It’s the first thing that must be calculated before starting the process of searching for a home.
It’s recommended that the property cost, at most, three times your annual income. However, in many cases most people don’t have cash to make the purchase, so they look for other options, such as a mortgage, to finance the purchase. At this point, it’s important to know your rights as an immigrant.
Know your rights
Being able to buy a house is one of the elements that can be part of the American dream.
To do this, the United States Department of Housing and Urban Development and the Fair Housing Act protect the principles of freedom and opportunities that the country offers in case of suffering discrimination in the intention of looking for a place to buy.
Ensure the mortgage
When you spend time living in the country, your credit history and tax returns will be background information to get a better mortgage loan. If the credit score (ranked between 300 and 850) is higher, it will be better.
Protect your savings and decide the best option for your financial situation.
Approach a real estate agent
The best option is to have the advice of a real estate agent who has experience supporting foreign buyers. They can be the link to finding the right place for your home and guide you through the entire negotiation process.
Make an offer
Once the ideal house has been found, the offer must be made so that the seller can report it. At that time, negotiations will begin until an agreement is reached. The fees of whoever took care of the transaction should be considered.
Gomez Law has staff that can be of great help to those looking for a place to call home.