To buy a house in Chicago, we must take out a loan to pay at least 20% down payment. And if you borrow money to buy a house in Chicago and don't have an American green card, the annual interest rate will be higher. I hope everyone can clearly understand this. In addition, everyone needs a credit record of two years, and new friends have not yet established credit, so loans from local financial institutions cannot be approved. In Chicago, there are several new loans specially set up for such friends, with down payment ranging from 30% to 40%.
At present, it is quite common for China people to choose loans to buy houses in Chicago, USA, because the operating cost in Chicago is very high. So many people will gradually choose loans to buy a house in Chicago. China people will have some thorny problems when they borrow money to buy a house in Chicago. The most important one is the question of true identity. Many people are afraid that they don't have an American green card and can't borrow money to buy a house in Chicago. Actually, it's not like that at all. As long as they have a reasonable and legal body and repayment ability, they can borrow money to buy a house there. In addition, there are three ways for Chinese to borrow money to buy a house in Chicago, namely, housing lending institutions, banks and loan brokers.
So much for our loan to buy a house in Chicago, USA. In short, you can get a loan to buy a house in Chicago. But we must build a good reputation. In Chicago, a good down payment is 20% to 20%. Generally between 30% and 40%. However, there are also loan companies that require a much lower proportion.
It is also common for China people to borrow money to buy a house in Chicago, USA. China people buy a house with a loan in Chicago, and everyone needs to prepare relevant personal information. This is an important matter. It includes not only proof of cash and assets, but also proof of personal income and personal credit history, passport and visa processing, and then the local bank account number in Chicago and the detailed address of the applicant's current residence. Some financial institutions have their own requirements at the meeting, in fact, they can prepare in advance according to the materials needed by financial institutions.
China people borrow money to buy a house in Chicago, and the interest rate is also a problem, but it is the same as domestic loans. The longer the time, the higher the interest rate. However, the interest rates of different types of loans are different, and borrowers can also shop around before.
Unfinished matters are some problems that China people often see when they choose to buy a house with a loan in Chicago, USA. All kinds of questions are very important. So if you choose to buy a house with a loan in Chicago. Then we need to grasp and understand this common phenomenon in advance. Finally, I hope our article can help you.