Author Topic: Transition Realities of Moving Back to the USA...Mortgages  (Read 440 times)

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Offline AnEnglishDena

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Transition Realities of Moving Back to the USA...Mortgages
« on: October 12, 2016, 12:35:11 PM »
I'm curious to know how the logistical transition has gone in moving back to the USA for any of you...specifically in securing a mortgage/buying a house and moving (quickly) into that house.

We're considering a move back to the States (fairly far off...1.5 years at least) and in an ideal world, we'd buy a house and move straight in without having 6 months in a rental or some similar "holding pattern" type of transition period.  But I'm wondering if I should just accept that this is NOT possible.  It seems like it will be very challenging, but I'm wondering if anyone has done it; that is: shopped for a mortgage, secured it, done a few whirlwind house visits, purchased, agreed and received keys all before officially moving to the States.

Just to be clear, I'm not asking about immigration or jobs, so don't worry about that.  (My spouse is UKC but may have an option of a job transfer, and I'm fairly confident in my knowledge of green card criteria) so I'm really only focusing on a house purchase from abroad.  Neither of us owned property before in the USA, so I literally have no clue what to expect.  We'll probably start to approach banks next year, but I'm just wondering, realistically, if I should even attempt to start that ball rolling before a move or if we're better off just doing that entirely from the States.
« Last Edit: October 12, 2016, 01:14:07 PM by AnEnglishDena »

Offline KFdancer

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Re: Transition Realities of Moving Back to the USA
« Reply #1 on: October 12, 2016, 12:58:00 PM »
Hmmm.... I thinking back at my experience of buying in the US before.

The US mortgage process moves MUCH faster than the UK (if you have experience owning here).  I know people who have closed in 3 weeks.

I'd reach out to a mortgage broker and see what they say.  Do you have someone in the US appointed as Power of Attorney?  That way they can sign things for you in your absence.

I think the most difficult hurdle will be having the US credit to secure a mortgage.  Needless to say, not an issue if you are paying cash.

Personally, I think I would want to be present for the home inspection and such.  But that's my personal preference.  I can understand not wanting to be in a rental.