Can a UK citizen buy a house in the USA?

Can a UK citizen buy a house in the USA?

Can a UK citizen buy a house in the USA?

by Robert Chadwick | November 29, 2021

Yes, United Kingdom citizens CAN buy property in the US!

Introducing the only globally-based USA mortgage specialists, America Mortgages

With a mortgage from America Mortgages, any UK citizen can buy property in the United States.

The United States of America has no laws that specifically prevent non-citizens from buying or owning property in its states and territories, regardless of nationality. What was once limited to the ultra-rich and British rock stars has become more mainstream, with heaps of those living in the Home Islands grabbing their slice of the American Dream.

Our lending tiers start with residential units valued at a minimum property value of $200,000, with a minimum loan amount of $150,000 which is ideal for those seeking seasonal vacation units as a source of rental income. In addition, America Mortgages also offers commercial, portfolio, and bridge loans, all three of which require minimum loans of $1,000,000. 

Buying property in the US for UK citizens can be just one step, however, because owning property in the US does not grant residency rights. If you are not a permanent US resident, the length of your stay is legally limited to the duration of your visa. Still, making substantial investments in American real estate is one path to permanent residency, and by extension, full citizenship (via naturalization).

US Green Card for UK citizens via Property Ownership

For example, the EB-5 visa can grant one conditional permanent residency, or a US Green Card, by investing a minimum of $900,000 (at the time this article was published), and while this does not offer instant citizenship, it can expedite US residency that might eventually lead to full citizenship. Although owning real estate in the United States doesn’t qualify as an investment into an EB5 program, it can be a factor in consideration when or if you decide to apply for residency. Please confer with an EB5 attorney or advisor.

US Property Market for UK Citizens

As the United States transitions to a post-pandemic economy, its housing market has heated up for several reasons, including an increase in home offices and those with the financial means motivated by a Fear of Missing Out (FOMO). Unlike many other nations, however, UK citizens investing in US housing need to remember that it’s not a homogenous market: its 50 states and one federal district (Washington, D.C.) offer as much diversity within themselves as they do as a whole.

For example, $10,000,000 can get you a massive 7-bedroom, 9-bath 10,000 square-foot ranch house on a large piece of pristine forested land in Colorado, but that same ten million dollars in New York City is the going price for a luxury 3,100 square foot apartment with three bedrooms and four bathrooms. But as mentioned above, UK citizens need not be in the top 1% of earners to purchase a home in the US, get in touch with us today to start your path to American property ownership.

Financing US Housing as a UK Citizen

America Mortgages provides comprehensive USA residential mortgage services for those living abroad, including UK citizens who wish to invest in US properties, as well as Foreign Nationals and American expats residing anywhere in the U.K. — England, Scotland, Wales, and Northern Ireland. Our global team of specialists is ready to help you — As America Mortgages only focus is very specific, we achieve approval on 97% of mortgages for US citizens and foreign nationals applications submitted through a vast network of the top 150 US lenders.

Useful links:

http://portal.hud.gov/hudportal/HUD

https://britishexpats.com/forum/usa-57/

U.S. Data Scientist living in U.K., purchases second home in Honolulu, Hawaii

The Client

Our client wanted invest in a second property. She decided to take advantage of rental yields by fixing up a single-family home and then renting it out.

How We Helped

After researching for days, she finally reached out to America Mortgages. Using AM Fix-’N’-Flip program for U.S. Expats, closed the deal in 15 days with a rate of 6.50%!

Loan Details

NationalityProperty ValueLoan AmountARVRate
U.S. Citizen $480,000 $312,000 65% 6.50%
Term Address Property TypePurposeLoan Type
18 Months Honolulu, Hawaii Single-Family Home Fix-and-Flip Residential
Nationality U.S. Citizen
Property Value$480,000
Loan Amount$312,000
ARV65%
Rate6.50%
Term18 Months
State Honolulu, Hawaii
Property TypeSingle-Family Home
Purpose Fix-and-Flip
Loan TypeResidential

U.K. Citizen living in Hong Kong expands his U.S. Real Estate portfolio with only 35% down using only the income generated from the property.

America mortgages

The Client

Our client is a British Marketing Director living in Hong Kong. He owns 15 small properties in the Atlanta area and wanted to add to his holding in U.S. real estate.

How We Helped

The client needed to release equity from two of his existing properties in Atlanta to get the down payment for the purchase of a new Orlando, Florida property (4 bedrooms, 3 baths, 3200 sq. ft home with a pool).

The main challenge we had was the client was already in contract, and the loan was declined by an international bank two weeks into the process due to DTI (debt to income) issues.

Our Loan Specialists were able to immediately see the issue and discuss the client’s options on affordability. Once it was understood the client intended to use this property as an investment, America Mortgages was able to structure the loan using only the rental income to service the debt. The existing two rental properties were refinanced in sync with the closing of the purchase.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
U.K. Citizen $1,690,000 $1,098,500 65% 4.875%
Address Property TypePurposeLoan Type
15 unit portfolio, Atlanta, Georgia Single-Family Home Purchase and Refinance Residential
Nationality U.K. Citizen
Property Value$1,690,000
Loan Amount$1,098,500
LTV65%
Rate 4.875%
Address 15 unit portfolio, Atlanta, Georgia
Property Type Single-Family Home
Purpose Purchase and Refinance
Loan Type Residential