Mortgage for US Property.

[Raskolnikov]

I'm an Irish citizen working in Ireland who is soon to be transferred abroad to the USA. I'm considering buying a house over there when I do arrive. Is anyone familar with how you would go about getting a mortgage for a place over there? Could I get one from an Irish lender or do I have to get one from an American lender? If I am to get an American mortgage, would it even be possible due to my lack of a credit history over there? Would having a big deposit and having a fairly low Loan to Value ratio be of any help?

Thanks in advance!

 

[euromortgage]

Hi Raskolnikov

It's better to get the mortgage from an american provider. I presume if your moving to the states , you'll be paid in us currency. If you were able to get a mortgage from an irish provider you'd be hit with a currency risk, when you were converting your wages to euro to pay your mortgage payments. We deal with american providers to offer this service to irish residents for investment properties. It is possible to get a mortgage over there without a credit history there. Having a large deposit and a small LTV will help

 

[csirl]

With a lot of foreclosures in the US, you might be able to pick up a bargain when you do buy.

 

[Raskolnikov]

Yes, I will be getting paid in US Dollars.

It is possible to get a mortgage over there without a credit history there. Having a large deposit and a small LTV will help

What sort of LTV do I need to be looking at?

Which lenders would be able to help me out? Would they let me overpay the mortgage?