Canadian needing a mortgage (loan, credit, loan, bank)

[cdnmumof2]

My husband and I are moving to the US and are wanting to purchase a house. How do we obtain a mortgage when although our credit in Canada is excellent, we have no credit in the US? Are there any companies that will deal with us? If there aren't what is the fastest way to build the credit we need? How long does it usually take? Lots of questions I know. Any input is appreciated.

[renriq02]

FHA maybe able to help you.

If you have 12months of nontraditional credit here in the US...they should be able to help you. You will need a social security card though.

Originally Posted by cdnmumof2

My husband and I are moving to the US and are wanting to purchase a house. How do we obtain a mortgage when although our credit in Canada is excellent, we have no credit in the US? Are there any companies that will deal with us? If there aren't what is the fastest way to build the credit we need? How long does it usually take? Lots of questions I know. Any input is appreciated.

[ChipL]

How much down can you put? There are Foreign National loan programs that would probably work in your case, but they generally require approx 20% down payment. Now this assumes Canadian citizenship. Are you planning on changing your citizenship to US? FHA only works if your residency status is either Resident Alien or US Citizen.

[Keeem]

Years ago when I moved from Canada to the USA I found Bank of America was happy to do business with me and were a lot more cordial and accommodating to a new-to-the-US resident with different needs than most. Some banks would not even let me open an account or would dismiss me when they found out I wasn't a citizen, but a resident. Apparently money earned here and taxes paid here and money spent here is different for citizens and residents to some banks and some didn't want mine. Obviously I recommend BOA. Might want to talk to a branch manager. BOA requires a passport to open an account.