I'm interested in real estate as an investment vehicle. I'm wondering if anyone knows if it is possible for a US citizen like myself to take out a mortgage in the US for house while he lives here. I'd like to keep it and rent it out.
I don't know about the bank loan part, but we bought a house in the US from Saudi Arabia. We had to do a lot of printing and signing and scanning and emailing everything back.
I wouldn't feel comfortable buying a house without someone I trust to see it and inspect it. We had my father do that for us, and we trusted his opinion, and he was the one who was there to take the keys from the realtor. So, if you don't have someone who knows a lot about houses to help you make the decision, then you may want to wait and decide on a house when you're on your repat.
I think we would see the house on a repat as you said, but I don't think I'd be able to close during that time. The loan process is the challenge. Would they accept that I work for a company abroad to underwrite a loan? That's the key question.
That's good to know, vpainter. If you care to share, are there any particular mortgage lenders that you might recommend? Also, did you buy any of those properties after the 2011 housing bubble? PM me if you feel you'd rather write privately.