Purchasing a House before Green Card?
Feb 16th 2003, 3:35 pm
#1
Guest
Posts: n/a
Purchasing a House before Green Card?
My company is moving me from Canada to the US. Right now I am working
in the US on a L1 Visa. Once I move down here I understand that I
will have to apply for my Green Card. Or else when the term of my L1
is complete I will be forced to return to Canada - regardless of my or
my company's wishes. Is this correct?
Also - Can you buy a house before you get a Green Card? Is this
advisable?
Thanks,
Jason
in the US on a L1 Visa. Once I move down here I understand that I
will have to apply for my Green Card. Or else when the term of my L1
is complete I will be forced to return to Canada - regardless of my or
my company's wishes. Is this correct?
Also - Can you buy a house before you get a Green Card? Is this
advisable?
Thanks,
Jason
Feb 16th 2003, 3:48 pm
#2
Guest
Posts: n/a
Re: Purchasing a House before Green Card?
[email protected] (Jason) wrote:
> ...when the term of my L1
> is complete I will be forced to return to Canada - regardless of my or
> my company's wishes. Is this correct?
Yes, although "forced" is a bit strong (you'll be "out of status" and
required to leave). The same applies if you're terminated by your
employer unless you're very lucky and can find another sponsor quickly
or apply for a different visa (e.g. student visa).
> Also - Can you buy a house before you get a Green Card? Is this
> advisable?
I did it back in 1995 on a H1-B visa, mainly because of ignorance. I
wouldn't do it now for a number of reasons (economic, political). In
my case it all worked out but ...
---
Don't feed the trolls--it only makes them grow!
> ...when the term of my L1
> is complete I will be forced to return to Canada - regardless of my or
> my company's wishes. Is this correct?
Yes, although "forced" is a bit strong (you'll be "out of status" and
required to leave). The same applies if you're terminated by your
employer unless you're very lucky and can find another sponsor quickly
or apply for a different visa (e.g. student visa).
> Also - Can you buy a house before you get a Green Card? Is this
> advisable?
I did it back in 1995 on a H1-B visa, mainly because of ignorance. I
wouldn't do it now for a number of reasons (economic, political). In
my case it all worked out but ...
---
Don't feed the trolls--it only makes them grow!
Feb 16th 2003, 4:18 pm
#3
Guest
Posts: n/a
Re: Purchasing a House before Green Card?
>My company is moving me from Canada to the US. Right now I am working
>in the US on a L1 Visa. Once I move down here I understand that I
>will have to apply for my Green Card. Or else when the term of my L1
>is complete I will be forced to return to Canada - regardless of my or
>my company's wishes. Is this correct?
Yes, that is correct. You must maintain lawful status at all times in the USA.
>Also - Can you buy a house before you get a Green Card? Is this
>advisable?
You can buy a house in the USA regardless of your immigration status. Property
ownership has nothing whatever to do with immigration. But if you are not
allowed in the country, you could have a problem using or managing it.
>in the US on a L1 Visa. Once I move down here I understand that I
>will have to apply for my Green Card. Or else when the term of my L1
>is complete I will be forced to return to Canada - regardless of my or
>my company's wishes. Is this correct?
Yes, that is correct. You must maintain lawful status at all times in the USA.
>Also - Can you buy a house before you get a Green Card? Is this
>advisable?
You can buy a house in the USA regardless of your immigration status. Property
ownership has nothing whatever to do with immigration. But if you are not
allowed in the country, you could have a problem using or managing it.
Feb 17th 2003, 7:23 pm
#4
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: Purchasing a House before Green Card?
Originally posted by Aftonokla
.... You can buy a house in the USA regardless of your immigration status. Property ownership has nothing whatever to do with mmigration. But if you are not allowed in the country, you could have a problem using or managing it.
.... You can buy a house in the USA regardless of your immigration status. Property ownership has nothing whatever to do with mmigration. But if you are not allowed in the country, you could have a problem using or managing it.
Feb 17th 2003, 7:57 pm
#5
Joined: Feb 2002
Posts: 6,848
We are here on L1 & L2 visas. We also took out a mortgage upon immediate arrival in the US, but we did put down a 20% deposit; the mortgage broker just did an international credit search. We also provided a year's worth of our bank and credit card statements (we always pay off our credit cards in full each month).
We were (I guess understandably) not given a brilliant interest rate on the mortgage, but we did a refinance to a lower rate last Summer.
What we took into special consideration though before proceeding with the house purchase was this; location, location, location. We needed to feel comfortable with the fact that if ever my husband's contract was terminated, we could sell the house very quickly.
Make sure that if you do buy any property that it is in a 'hot' location, eg. in the best school district you can afford. We had to compromise on the size of the house we would have liked, but our house will never languish on the housing market for long.
We were (I guess understandably) not given a brilliant interest rate on the mortgage, but we did a refinance to a lower rate last Summer.
What we took into special consideration though before proceeding with the house purchase was this; location, location, location. We needed to feel comfortable with the fact that if ever my husband's contract was terminated, we could sell the house very quickly.
Make sure that if you do buy any property that it is in a 'hot' location, eg. in the best school district you can afford. We had to compromise on the size of the house we would have liked, but our house will never languish on the housing market for long.
