Buying Property in Texas, USA
#1
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Hi All,
As Greencard Lottery winners we are emigrating to Texas (from UK) within the next 4 months.
We are in the process of buying a newly built home, but we are having
difficulty finding a suitable mortgage - as we need to start afresh with
US credit rating etc.
A bit of research on this forum had forum members - redlobster, Pulaski and Fatbrit talk about mortgages for new emigrants.
We have 20% - 25% of the down payment for the total mortgage of the
property we want to buy.
What do forum members think will be the best mortgage for us?
(1) Stated income?
(2) No documentation?
If anyone has first hand experience or recommendations of any tried & tested
mortgage brokers please point us in the right direction
Regards,
TedCash
PS. I've re-posted the above help request, I earlier posted under the "US immigration" section but was advised by Bob that I'll "probably get more help posting in the US lifestyle section of the forum"
As Greencard Lottery winners we are emigrating to Texas (from UK) within the next 4 months.
We are in the process of buying a newly built home, but we are having
difficulty finding a suitable mortgage - as we need to start afresh with
US credit rating etc.
A bit of research on this forum had forum members - redlobster, Pulaski and Fatbrit talk about mortgages for new emigrants.
We have 20% - 25% of the down payment for the total mortgage of the
property we want to buy.
What do forum members think will be the best mortgage for us?
(1) Stated income?
(2) No documentation?
If anyone has first hand experience or recommendations of any tried & tested
mortgage brokers please point us in the right direction
Regards,
TedCash
PS. I've re-posted the above help request, I earlier posted under the "US immigration" section but was advised by Bob that I'll "probably get more help posting in the US lifestyle section of the forum"
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#2
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where in TX are you coming to? There are brokers that advertise on the radio all the time here for special circumstances - they might be worth a shot?
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I'm in Austin....
Are you using a realtor? They are supposed to be experts in finding the best mortgage for their clients, though I'd do my own research.
One route I'd take is to look in the San Antonio area because well-off Mexicans tend to do their banking there. The cheapest way to finance is usually via the Internet where you never see the mortgage company; you only go to the *title* insurance company to sign paperwork.
Do you have pointers to an FAQ for how American (and Texas) mortgages work? If not, let me know and I'll have a look for you.
Amy
Are you using a realtor? They are supposed to be experts in finding the best mortgage for their clients, though I'd do my own research.
One route I'd take is to look in the San Antonio area because well-off Mexicans tend to do their banking there. The cheapest way to finance is usually via the Internet where you never see the mortgage company; you only go to the *title* insurance company to sign paperwork.
Do you have pointers to an FAQ for how American (and Texas) mortgages work? If not, let me know and I'll have a look for you.
Amy
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Originally Posted by snowbunny
Are you using a realtor? They are supposed to be experts in finding the best mortgage for their clients, though I'd do my own research.
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Originally Posted by AdobePinon
Yeah, they're experts in finding clients for their best buddies, so do be careful.
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Originally Posted by snowbunny
Wow, for once the Brit was blunt and the Yank "polite"
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Originally Posted by AdobePinon
Got an avatar to live up to, you know. ![Big Grin](https://britishexpats.com/forum/images/smilies/biggrin.gif)
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Okay I just gotta say this:
doesn't
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Originally Posted by Big D
where in TX are you coming to? There are brokers that advertise on the radio all the time here for special circumstances - they might be worth a shot?
Thanks Big D,
Heading for Missouri City, Houston.
I'm still in the UK, so can't tune into Tx radio, maybe by the Net?
regards
Tedcash
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Mind if I ask why Missouri City?
There are a fair few expats in Houston -- even on this forum.
Google on:
resident alien mortgage primary residence
Add the words houston or texas to the above search if you want it to be more specific. You may wish to change your thread subject to "Mortgage in Houston, Texas" because it's more likely to attract more attention by those well-versed in expats obtaining mortgages and those local to Houston.
There are a fair few expats in Houston -- even on this forum.
Google on:
resident alien mortgage primary residence
Add the words houston or texas to the above search if you want it to be more specific. You may wish to change your thread subject to "Mortgage in Houston, Texas" because it's more likely to attract more attention by those well-versed in expats obtaining mortgages and those local to Houston.
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Originally Posted by TedCash
Hi All,
As Greencard Lottery winners we are emigrating to Texas (from UK) within the next 4 months.
We are in the process of buying a newly built home, but we are having
difficulty finding a suitable mortgage - as we need to start afresh with
US credit rating etc.
A bit of research on this forum had forum members - redlobster, Pulaski and Fatbrit talk about mortgages for new emigrants.
We have 20% - 25% of the down payment for the total mortgage of the
property we want to buy.
What do forum members think will be the best mortgage for us?
(1) Stated income?
(2) No documentation?
If anyone has first hand experience or recommendations of any tried & tested
mortgage brokers please point us in the right direction
Regards,
TedCash
PS. I've re-posted the above help request, I earlier posted under the "US immigration" section but was advised by Bob that I'll "probably get more help posting in the US lifestyle section of the forum"
As Greencard Lottery winners we are emigrating to Texas (from UK) within the next 4 months.
We are in the process of buying a newly built home, but we are having
difficulty finding a suitable mortgage - as we need to start afresh with
US credit rating etc.
A bit of research on this forum had forum members - redlobster, Pulaski and Fatbrit talk about mortgages for new emigrants.
We have 20% - 25% of the down payment for the total mortgage of the
property we want to buy.
What do forum members think will be the best mortgage for us?
(1) Stated income?
(2) No documentation?
If anyone has first hand experience or recommendations of any tried & tested
mortgage brokers please point us in the right direction
Regards,
TedCash
PS. I've re-posted the above help request, I earlier posted under the "US immigration" section but was advised by Bob that I'll "probably get more help posting in the US lifestyle section of the forum"
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Originally Posted by TedCash
Thanks Big D,
Heading for Missouri City, Houston.
I'm still in the UK, so can't tune into Tx radio, maybe by the Net?
regards
Tedcash
Heading for Missouri City, Houston.
I'm still in the UK, so can't tune into Tx radio, maybe by the Net?
regards
Tedcash
Hi Ted
I am a Brit living in Houston, and we bought our house 5/6 years ago..
If I can help, I would be glad to do so
Send me a PM with your questions
I also have to ask, why Missouri City??
My friends sister also won the green card lottery, and now lives in San Francisco
Good luck to ya
PD
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Ted,
Just noticed this one - not got a lot to advise on the mortgage I'm afraid, but if you haven't already seen it, check out the Houston Association of Realtors website www.har.com. Apart from lots of info on houses, they also have links to service providers such as mortgage companies. We were in a similar position to you, and used a mortgage broker that had been recommended to us - he got us a reasonable rate, and no complaints - drop me a PM if you want the contact details.
Congratulations on the green card!
Just noticed this one - not got a lot to advise on the mortgage I'm afraid, but if you haven't already seen it, check out the Houston Association of Realtors website www.har.com. Apart from lots of info on houses, they also have links to service providers such as mortgage companies. We were in a similar position to you, and used a mortgage broker that had been recommended to us - he got us a reasonable rate, and no complaints - drop me a PM if you want the contact details.
Congratulations on the green card!
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#13
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Originally Posted by Jabba1
If you won the greencard lottery, then I'm assuming your from northern Ireland.
It's a big assumption...
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Originally Posted by Perfumdiva1
Hi Ted
I am a Brit living in Houston, and we bought our house 5/6 years ago..
If I can help, I would be glad to do so
Send me a PM with your questions
I also have to ask, why Missouri City??
My friends sister also won the green card lottery, and now lives in San Francisco
Good luck to ya
PD
I am a Brit living in Houston, and we bought our house 5/6 years ago..
If I can help, I would be glad to do so
Send me a PM with your questions
I also have to ask, why Missouri City??
My friends sister also won the green card lottery, and now lives in San Francisco
Good luck to ya
PD
Thanks for your reply,
We visited Houston twice last year, looked at several newly built developments, in the end it was a choice between "The Woodlands" in the North and "Sienna Plantation" in the South, so we opted for Sienna Plantation, which I believe forms part of Missouri City.
Sienna Plantation offers everything, we have hoped for, Swimming Pools, Golf, etc.
PD thanks for the offer - I shall write to you with my questions.
Regards
TedCash
PS. Sense of Humour - we chose Houston over San Francisco because of the reasonable house prices and cost of living : )
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Just watch out for the po-lice in Montgomery County (The Woodlands) is all I have to say. Bout as heavy handed and rednecked as it gets. Good news is that they guard those suburban enclaves. I'm not having a go -- I live in the Austin 'burbs -- but just don't get uppity with the sheriffs. Or a security guard for that matter.
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