Foreigner Loan: Requirements for Getting a Mortgage in the US
The path to owning a home in the United States through a mortgage as a noncitizen is difficult, but doable. The United States has many foreigner loan programs that noncitizens can take advantage of to get funding for a home just like a citizen. As one of the premier locations for foreign landownership, the US, in partnership with many private lenders, have created accessible and convenient pathways to this goal. Here are the requirements for anyone who is looking to take advantage of the opportunity.
What Is an Adjustable-Rate Mortgage?
Adjustable-rate mortgages have their own set of pros and cons. Learn what they are before you sign on the dotted line. Unlike a fixed-rate mortgage where the interest rate remains the same for the life of the loan, an adjustable-rate mortgage (ARM) has an interest rate that can increase or decrease several times during the mortgage term. ARM’s are riskier for the borrower, especially if interest rates take a significant uptick, but they are the right in many instances. Learn more about adjustable-rate mortgages and compare them to conventional fixed-rate mortgages before you start shopping for your dream home so that you go into the process with everything you need to know.