Diaspora homes
Embark on the journey to property ownership in America with confidence and ease!
Navigating the path to homeownership in the United States offers various avenues, each tailored to meet diverse financial situations and investment goals. Here are two prominent ways to purchase a house in the USA:
Cash Purchase
Embarking on a cash purchase involves acquiring a property outright without the reliance on financing through a mortgage. This approach provides immediate ownership and can lead to unique benefits for investors.
Investment Threshold for Green Card: Considered a notable advantage, investing over $500,000 in the U.S. economy qualifies you for the EB-5 Immigrant Investor Program. This program offers a pathway to a business green card for you and your family, allowing permanent residency.
Loan Purchase
Opting for a loan purchase involves securing a mortgage to fund a significant portion of the property cost. This approach allows for homeownership while spreading payments over an extended period.
- Down Payment: Typically, a 30% down payment is required, though percentages may vary based on loan programs and creditworthiness.
- Monthly Mortgage Payments: The remaining balance is structured into monthly mortgage payments over the loan term.
YOUR PROPERTY FOR
Diversifying the use of your property opens up various investment opportunities, allowing you to maximize its potential. Here are four types of investment avenues you can explore for your property:
- Contract renting: Enter into contracts with companies to rent your property for their employees. This type of arrangement involves leasing the property to corporations, and in return, you receive industry-standard rental payments for the agreed-upon duration.
- Family rental: Rent your property to families seeking a place to call home. This traditional form of property rental involves leasing the entire property to individuals or families for residential purposes.
- Section 8 rental: Participate in government-subsidized housing programs, such as Section 8 in the U.S. Rent your property to eligible families, and the government pays a portion of the rent on behalf of the tenant.
- Airbnb: Explore the world of short-term rentals through platforms like Airbnb. Rent your property on a daily or weekly basis, catering to travelers seeking flexible and personalized accommodation.
requirements to buy a house
Navigating the process of purchasing a house involves a series of steps and documentation. Here are the key requirements to buy a house, with a strong emphasis on the support offered by HorBen Realty and Abuja Moms:
- A Good Realtor: Engaging the services of a reputable and experienced realtor is essential. With HorBen Realty and Abuja Moms, you can trust that you are in capable hands. Our expertise, market knowledge, and commitment to client satisfaction contribute to a smooth and successful home-buying experience.
- Data Page of Your International Passport: The data page of your international passport is a crucial identification document that establishes your identity and citizenship.
- Letter from Your Bank: A letter from your bank serves as a financial reference and attests to your financial capability to embark on a property purchase.
- 3-Month Bank Statement: A 3-month bank statement provides a snapshot of your financial transactions and balances over a specific period, offering insights into your financial health.
FREQUENTLY ASKED QUESTIONS
It refers to mortgage loans that are accessible to individuals who do not reside in US. This makes it possible for people from other countries to buy houses of their choice in the US without having a visa or US citizenship.
Foreign National Loans can be processed within a period of 60 days or less.
Sometimes, the interest rates may vary depending on the lender. However, the general rate is usually between 5%-9% across the loan period.
Yes. The interest rate is adjustable and can either go up or come down.
The minimum down payment is usually 30% of the total price of the property you wish to purchase.
Generally, you will need to provide a 2 months recent bank statement, 2 copies of your passport, a reference letter from your local financial institution [Bank] and a letter of intent from the individual applying for the loan.
Foreign National loans are only available for residential properties. Commercial properties are not eligible for this type of loan.
Usually most lenders give between 20-30 years to pay back.
Yes, you can decide to place your property on rent so that you can make some profits to finance your loan. We can also recommend reliable listed agents to manage the property for You.
Why buy a house
in the US
- Relatively stable economy than that of Nigeria.
- Income from rental property when converted to naira is more.
- Value of uses never goes down.
- Growing economy that allows your investment to grow
- Higher demand for accommodation due to the weather and increase in population cause by massive migration to the US
- Reliable team of realtors ( HorBen Realty Group and Abuja Moms Ltd) available to help you manage and monitor your home.
- Likeable minimum income (profit) you will make a month #500,000. You will make from $500 - $3000 a month on rent depending on house type , purchase type and mortgage type
- You can use your investment to apply for business green card if it is up to $500,000 and above
