SmilerJen

we maybe moving to the USA (Washington) in about a year from Canada, we are permanent residents here going for our Citizenship this year. We are wondering if we move to the USA will we have problems getting a mortgage because we haven't got any credit history there - or will they take into account any of our credit history from Canada???

It's just that we really don't want to have to rent if we move we would like to buy straightaway..
thanks for your input
Smiler

User Name

Is that "Washington" as in WA or DC? You might want to look at Chicago, I hear that real estate a few miles east of downtown is real cheap. I think they call it "laketrification". Jump on it while you still can. I only mention Chicago because it is located between WA and DC. Still a long way from both though, and Chicago is a lot nearer to DC than WA.

Not professional advice, if you want to buy real estate, consult with a competent professional in the county/state where you intend to buy.

AmerLisa

If it's WA State, we just bought our first house here after renting for a year. We had previously moved from the UK and didn't have established credit here in the US. Our mortgage company worked with our "alternate credit", i.e. rent, utilities, auto insurance, cell phone bill (all paid on time, in good standing) and there was no problem getting a mortgage. However, I think you can try a loan company ahead of time, they might work with you, especially if you have a pretty good downpayment. Good luck!

fatbrit

I believe you will start again on your credit score. Amex will xfer, so there's your way on to the ladder.

On the mortgage front, these are actually the easiest to get without credit since the collateral is pretty immovable.

No credit score, means you're not going to qualify for an "A" paper, which generally is going to require a credit score >620, 2 years of US history, and at least 4 lines. But that just means you are going to have to work a little harder at getting your loan and not just walk into your own bank and out with a loan in 15 minutes. A large down payment always helps. Using a broker with many lenders rather than a bank with rather narrow and few boxes may also help. Your employer may have some sway, especially with a bank where they have a relationship. Bringing some history from outside the US may help sway an underwriter. But it's going to take more more homework and effort than your average local needs.

AmerLisa

We had a good mortgage broker, if you're interested I'll pm you her details.

SmilerJen

thanks for the feedback - it is actually Seattle Washington sorry forgot to mention that............

Bob

There's a faq up top that has some pretty good info...and one question,but how you moving to the US? visa, either of you USC etc?

fatbrit

If this bill to prohibit home loans for those without permanent status passes, you might not be able to get a mortgage in Iowa without being a USC or holding a GC.

Elvira

Just goes to show how little politicians know about immigration.

Amongst many other so called professionals (bankers, CC companies, etc) there is also a widespread perception that anyone who is neither a USC nor a LPR has to be here illegally.

NC Penguin

Q: how can you be a US permanent resident when you're living in Canada and maybe moving to the US?


NC Penguin

Bob

I read that they were permanent residence of canada getting canadian citizenship....but then they didn't really make it all that clear...

fatbrit

Frightening, isn't it? But if they bring it in their only going to piss off a few people who can't vote anyway -- so why should they care?

Jerseygirl

First 6 words 'we may be moving to the US'.