Steps For Getting Mortgage Financing By Foreign Buyers

STEPS FOR FOREIGN BUYERS TO GET MORTGAGE FINANCING IN THE U.S.A.

1. Open U.S. Bank Account. Work with those banks that will allow you to do this before entering the U.S. or having to make a special trip. What they will need:
   a. Complete W-8Ben form. Obtain form at http://www.irs.gov/pub/irs-pdf/fw8ben.pdf
   b. Copy of Passport
   c. Copy of second official form of identification to verify address and date of birth
   d. Account documents will then be mailed to you to be signed and notarized. Mail back to address provided.
   e. Funds needed for down payment and reserves for U.S. real esate purchase should be wired into your new account once fully established.
2. Apply for ITIN – Individual Taxpayer Identification Number
   a. Process time is 12 – 16 weeks so it is important to do early on.
   b. Form is at http://www.irs.gov/pub/irs-pdf/fw7.pdf
   c. Include required documents and mail to IRS or to an approved local CPA/Accountant
3. Determine your best financing options by talking with professionals very experienced in handling foreign national loans
4. Obtain two credit reference letters from banks
5. Request free E-Book of the complete guide to “Buying Real Estate in the United States” by sending email to Lori@SandonGroup.com to be released August 2008.
6. Once you have initated the above steps, contact a real estate agent specializing in working with the international market and foreign buyers.

I would be happy to refer you to industry professionals, such as attorney's, accountants, banking representatives, real estate and mortgage professionals, etc that specialize in the foreign and international markets that I feel excel in their professions.