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Old 12-21-2008, 07:47 PM
 
2 posts, read 10,498 times
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Dear friends,

One of my cousin is an international student studying in graduate program in new jersey. He wants to buy a home in Harrison, NJ area. He wants me to know the following questions. Can any one help me to get the answer.

1. As an international citizen is it possible to buy home in US.

2. what are the procedures to buy a home here US.

3. How can he manage the loan and what needs to do to get the loan.

4. What factors should be considered before buying a house and getting loan.

5. Where he can get information about loan company, real estate.

I need yours help.

Thanks
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Old 12-21-2008, 07:58 PM
 
1,462 posts, read 4,419,601 times
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Because of the credit crisis in the USA, loan restrictions for purchases are tight on US Citizens with good credit. For those who aren't citizens, it may be even harder, especially if they don't have a documented income stream.

Also, is your cousin planning to stay in the house once he's done the program? Because of the real estate situation in the United States, unless he plans to stay in the house for 5-10 years, he will lose money on the deal.

My recommendation is to rent, not buy, if he's here for the short-term.
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