For foreign investors in China, they will encounter many problems, such as loans, interest rates, rents, property management, taxes, transfer and so on. The following is an analysis of loans and interest rates involved in buying a house in Seattle provided by Meiya Real Estate Group, a well-known overseas real estate investment institution in China.
I'm China. Can I borrow money to buy a house in Seattle? What banks can choose from?
The answer is yes! China citizens can borrow money to buy a house in the United States. First of all, for foreigners, the loan ratio can't exceed 70% of the purchase price in most cases, and the loan down payment varies according to the total assets and credit rating of individuals. Secondly, you may need to open an account in a bank of America, which helps to establish personal identity with the mortgage lender. In Seattle, there is usually Cathay Bank.
Banks) and east-west banks (things)
There are two banks that can provide loans to China people with foreign status. Some customers say that HSBC and Citibank can handle loans, but all the banks mentioned above need you to contact the bank loan broker personally for confirmation.
The Loan Policy of Cathay Bank
35% down payment+monthly payment of 65438+bank statement of local tax insurance in February and the last two months, 35% down payment+monthly payment of 65438+February+loan fee in the name of personal bank for at least two months (it is best not to deposit or withdraw money in these two months).
1, work certificate
2. Company name letterhead
3. Applicant's position
4. Work start time (at least two years of relevant work)
5. Salary (salary of the previous two years and current salary)
6. Name, position, signature and company seal of the personnel supervisor of the company.
7. The above documents are required to be written in English or translated into English.
8. No pre-approval letter is provided, and loan approval takes at least 60 days.
Current loan interest rate
1. Cathay Pacific Bank provides foreigners with 15 fixed-rate loans with a loan interest rate of 4.875%.
Check the latest interest rate and copy the following website:/Personal/Mortgage Loan/Mortgage Interest Rate.
Loan policy of East-West Bank
1, 40% of the down payment should be deposited in a bank in the United States.
2. Proof of assets about 25% of the house price to ensure the repayment ability for five years. Non-American assets are also acceptable. It can be bank deposits, stocks, wealth management and real estate, but it needs a valuation report.
3. All the above funds need to be in the name of the lender. Please provide the latest deposit certificate and translate it into English.
4. Americans' income and credit records are not needed, and foreigners or American residents can do it. 5. No pre-approval letter is provided, and loan approval takes at least 60 days. Check the latest policy and copy the following website:/views/pages/personal/loans/home-mortgage.cshtml.
Current loan interest rate
The East-West Bank provides foreigners with a 30-year floating interest rate loan, not a fixed interest rate loan.
1,11arm, with a fixed interest rate of 4.25% in the first year and floating annually thereafter.
2.3/ 1ARM, with a fixed interest rate of 4.375% for the first three years, and floating annually thereafter.
3.5/ 1ARM, the fixed interest rate is 4.625% in the first five years, and then the floating interest rate fluctuates with the one-year US Treasury bond interest rate every year, and it is expected to increase by 0.25% to 6-7% every year. Interest rates and policies often change, and a lot of information is not published online. You need to contact the bank loan specialist. If necessary, you can also contact Meiya Real Estate Group. Professional consultants can provide you with professional services. The personal customer service hours of banks are generally from 6: 00 am to 7: 30 pm on Monday to Friday, West Coast Time. Loan calculation: If you need to calculate the monthly repayment interest and principal, you can go to the corresponding page of official website Bank to inquire. Of course, I can also help you calculate and analyze through the intermediary.
(The above answers were published on 20 17-07-2 1. Please refer to the actual situation for the current purchase policy. )
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