Vanes

I bought a house in Menlo Park this year and used HSBC, all reasonable straight forward via their Premier system. Happy to help/tell you how this went if you need help.
Alvin

Nutmegger

You bought a house prior to obtaining a visa? Sounds a bit risky.

Vanes

HSBC are in the visa waiver program.

petitefrancaise

are they? maybe it's quicker and cheaper to get your business visa through them rather than US immigration??????

Pulaski

No, they're not HSBC is a bank, and banks have nothing to do with how a foreigner was admitted to the US, whether with a visa, or not (i.e. the VWP). Worse, banks don't necessarily care whether you are even allowed into the US at all!

IMO, and others', you have made a very risky purchase because you are entirely at the mercy of the USCIS as to whether you'll be able to even visit your house, and it is actually more likely that you'll be turned away by the immigration officer at the airport because you have a home in the US that you own.

If you get a visa, there is always the possibility that it might not be renewed, or otherwise might be revoked, meaning you have just a few days to leave the US, no matter that you own a home.

SkyBlueInOregon

I have made the potentially stupid move of hooking up to a mortgage whilst on an L1a. I went for it in my first year as I financially modeled it out and concluded that even if we left within 3 years (assuming 1 L1a extension or a GC (GC application was not made at the time of purchase but is now)) it was worthwhile due the vicious rental market where we live, 0.4% unoccupancy is not nice, especially not nice when you have two labradors who change/drop their coats frequently!

As I did not have a single US tax return the mainstream banks were not interested, we went to a local home loans company, as it was not as automated they were happy to take P60s. We also received a good interest rate and could have put down as low as a 5% deposit, these both conflict with most peoples experiences.
I have to point out that the above was only possible as I was able to get my credit score well above 700 with 7 months credit history, this is not difficult and is well covered in at least 824 other posts (I think I read that many).
I have heard from many people the same as what Pulaski says regarding the high maintenance costs, I alleviated this a little by going for a new build, this could kick me a little once the warranty wears out.

So, there are risks and there are difficulties in even getting to the risk stage but then most of us we have taken a fairly large leap just getting out here! Isn't it fun!?

Pulaski

The real kicker may be the loss of your "new-build premium", in other words people pay relatively more for a new house than an older one. The result of this is likely to be that your house will not appreciate as fast (%) as an older house of the same size as your new one. This is more true in areas where many houses are being built, but still a factor in lower-growth areas.

MartinColl

Not sure what you mean here. As others have said HSBC are a bank. Useful one to use for someone coming to the US from the UK if you qualify for their Premium account. I have my account with them and have just been pre approved for a mortgage via them.

They have zero to do with the visa application and decision making process though. I certainly would not be making any property decisions let alone investments in advance of getting your visa approved and issued.

Vanes

Hi, it has nothing to do with the visa, they merely do not need a UK citizen to hold a visa to loan for a property purchase.