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06.26.08, 13:42 PM New York City
15 replies
Interested in buying a coop/condo in good zone. Can non-US citizens get a mortgage? If not, 100% cash is enough or do you still have to have enough liquid assets left over (does this apply to condos, too? or only coops care about leftover money after buying the home?) TIA. [ Reply | Watch | Flag ]
New York City 06.26.08, 01:42 PM Flag
 

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You can definitely get mortgage as green card holder (I did). Not sure if you can if you are not resident at all. [ Reply | More
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General Topics 06.26.08, 01:48 PM Flag
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Work visa but no green card yet. [ Reply | More
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General Topics 06.26.08, 01:52 PM Flag
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np- yes you can, but you will have to buy a condo apt or a sponsor unit. Some co-ops will not let a non-green card holder in [ Reply | More
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General Topics 06.26.08, 02:11 PM Flag
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TIA. Do condos ask for money in the bank AFTER paying for the apt like coop boards ask for? [ Reply | More
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General Topics 06.26.08, 02:17 PM Flag
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not that I know of- we bought a co-op [ Reply | More
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General Topics 06.26.08, 02:26 PM Flag
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Thanks. [ Reply | More
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General Topics 06.26.08, 02:27 PM Flag
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Unless you have a major down payment available it is going to be hard to get a mortgage. You don't have any US credit history, do you? [ Reply | More
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General Topics 06.26.08, 02:31 PM Flag
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Yes, credit history, but income is low, so will need to pay 100% down. [ Reply | More
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General Topics 06.26.08, 02:47 PM Flag
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after you pay 100% cash, they will want to see that you have the income to pay the mait or fees. [ Reply | More
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General Topics 06.26.08, 03:21 PM Flag
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You mean 1 yr's worth of maintenance/taxes? [ Reply | More
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General Topics 06.26.08, 03:24 PM Flag
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yes - and they like to see income, it is ny and they udnerstand "cash" business - but you have to have something. [ Reply | More
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General Topics 06.26.08, 03:31 PM Flag
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Income is low. Not even $100k. Can cover maintenance/tax of course, but HHI is low.. [ Reply | More
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General Topics 06.26.08, 03:45 PM Flag
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You will probably have to go condo unless you have very significant assets in the US. [ Reply | More
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General Topics 06.26.08, 03:10 PM Flag
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Honestly, I don't think that you're going to need 100% down, unless you want to do it that way. Unless your income is really low, they aren't going to consider you a risk if you've paid at least 20-25% (maybe it would need to be more than that though) in cash, because you have a lot to loose if you default as well... [ Reply | More
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General Topics 06.26.08, 03:27 PM Flag
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np: at our co-op the board turned down a british family b/c they were not permanent residents. they felt they were a potential "flight risk" (though i know the family and they are still here, 4 years later, and own a condo). just something to keep in mind, if looking at co-ops. maybe others don't think this way... [ Reply | More
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General Topics 06.26.08, 03:54 PM Flag
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