Your child gets accepted to a U.S. university and you want to buy a home nearby..
Here is a video of our initial idea when we raised our first round of funding
There are 3 types of real estate purchases:
- Trophy assets
- Education-related
- Investment
There is obviously an overlap but for this article, we focus on #2 - education-related.
This was my journey when I left Asia to study in the U.S. as well as most, if not all, of my friends. In fact, through our research, we have concluded that education is the most popular reason to invest in overseas property.
Top 10 Asian countries with students attending U.S. universities as of 2023:
China – 289,526
India – 268,923
South Korea – 43,897
Vietnam – 21,900
Taiwan – 21,834
Japan – 16,054
Bangladesh – 13,563
Indonesia – 8,467
Hong Kong – 5,867
Singapore – 3,182
I'm fairly sure that most of these parents would also like to own an investment property - now they can!
Your child gets accepted to a U.S. university, and you want to buy a home nearby….
After 4 years of university, you can:
- Sell the home, and the capital gains can be used to recoup the college tuition
- Have your child stay in the apartment while they work in the U.S. to get "international" experience before they come back home
- Transfer to your child's name to build credit and or earn rental income while they are living in the U.S.
- Keep it to earn rental income
What happens next?
You speak to your local bank, and they do not offer U.S. mortgages - no overseas banks offer U.S. mortgages (but you don't know that).
You search online and do not see any U.S. banks - U.S. lenders do not advertise outside the U.S. (you didn't know that either).
You give up and pay for the home with cash!
Foreign home buyers face this problem every day!
Did you know that over the past 10 years, non-U.S. citizens have purchased $1 trillion worth of U.S. real estate, and almost 70% of it is paid with cash because of the problems mentioned above?
Our subsidiary, America Mortgages, is the world's only U.S. mortgage broker outside the U.S., focusing on overseas borrowers, both foreign nationals and U.S. expats - that is all we do.
Some common misconceptions:
- My child/student can not be the tenant - wrong!
Our "AM Student +" loan program is the world's only mortgage that allows this - just need a F-1 student visa.
- My child/student can not qualify since they have no income - wrong!
We use a rental comparable to qualify - if it the comparables exceed the mortgage expenses - you qualify!
- I need U.S. credit - wrong!
We accept overseas credit or a letter from your accountant
- I need to be a salaried employee - wrong!
You can qualify with the rental income of the property - no need to show income!
- I need to be living in the U.S. - wrong!
All of our clients are living outside the U.S.
- I can't get a mortgage - obviously wrong!
We founded America Mortgages to fix the problem of obtaining a U.S. mortgage while living overseas
- I'm too old to qualify for a loan - wrong!
There are no age restrictions in the U.S.
- Banks don't give loans to foreigners - wrong!
We created loan programs specifically for foreign borrowers
- I can't borrow much as a foreigner - wrong!
Our programs can lend up to 75% of the property value
- The process is very difficult and takes too long - wrong!
We have streamlined the process with technology and our average loan takes 30-45 days to close - faster than any bank!
- I need to stay up late at night to speak to a loan officer - wrong!
We have loan officers in your timezone, speaking your language, 24/7
Investing in a home near your child's university in the U.S. offers financial benefits, from potential capital gains to rental income. At America Mortgages, we make it easy for international buyers to secure U.S. home loans, debunking myths and simplifying the process. Ready to invest? Contact us today at [email protected].
