Mortgage loan for foreigners in US
Having trouble getting a mortgage loan because you are from a foreign country but otherwise have a great credit and stable income? Dingow will connect with a lender who wants your business!
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Taxation and Legal Implications of Purchasing Properties as a Foreigner? Dingow can help too!
Purchasing properties in the U.S. as a foreigner is in many respects similar to other countries from a legal and tax standpoint, however, there are several points that foreign buyers should be aware of. Dingow will provide some guidelines and check list of tax and legal matters that the buyer should consider. We cannot replace real estate attorneys and tax accountants and we recommend that you seek the advice of these professionals. We hope that the information will at least provide some framework on some tax and legal issues for foreign purchasers.
We are currently building a panel of tax and legal experts for each state so please stay tuned!
Depending on the borrower's scenario & situation, Dingow will customize the checklist so that relevant points will be presented so you don't have to sift through endless information scattered across the online universe.
Type of Buyers We Work With
Primary Home Buyer Investors (Residential) Pied-à-Terre Buyer
"Snowbirds" Vacationers Parents for Children
Samples of Some Tax and Legal Issues to Consider
U.S. Probate - This is a procedure to handle properties of the deceased. Probate will be conducted in the U.S. even if the estate or family is in a foreign country. U.S. probate process is time consuming and more expensive than other countries.
Incapacity - If a property is held in the names of two or more people and one becomes incapacitated, the property will be effectively be frozen. To unfreeze the property is also very time consuming and costly.
Estate Tax - If the foreigner owns more than $60,000 of U.S. assets and has a worldwide net worth of over $1,000,000 there is a 35% U.S. Estate Tax on the total value of the U.S. assets.
Capital Gains Tax - each state within the U.S. have different capital tax rates.
Various ways to mitigate risks and exposure to timely and costly procedures are to purchase via: Corporation, Trust, Cross Border Revocable Living Trust (Canadians), US Living Trust, Limited Liability Company, Limited Liability Partnership
Rental Properties will require a 30% withholding on gross rent.
Depreciation on rental properties are taken in the U.S.
Performing day-to-day tasks a rental property without a U.S. working visa/permit is strictly prohibited e.g. renovations, disposing garbage, cleaning, etc.
No tax return filing requirements is required for vacation or 2nd homes until the home is sold.
"Trying to get a credit card let alone a mortgage was like pulling teeth from the bank and we are working professionals with great credit back home! Thanks Dingow for making it happen." -Erin C.
"We didn't know there were so many different choices that were available to us - great to have one single place that groups them all!" -Jayden T.
"It's great to be able to point our clients to you guys since we deal with so many buyers from other countries. Thanks!" -Reon H.