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Buying a House in Southern California Using an H1 Student Visa?

Call 562-888-0404 for more information about Buying or Selling Homes, Houses, and Real Estate in Southern CA, Long Beach CA. and Orange County CA

You gotta love when a Student is asking questions about buying a house in California …

in this case, it is a student on an F1 Visa, for foreign residents here to study. Brings up an interesting question and the gang has some great feedback regarding the opportunities for those in this position.

 

How Can a Student on an F1 Visa Buy a House in California?

Eric: Here is a great one. Lori wants to know, I am an international student on an F1 Visa, so is it possible that I could own a home in California and how or what is the process?

Alissa: F1

Eric: Yeah, remember we had an H1B or something?

Alissa: Honestly I would have to look in my notebook on my Visa. There are so many Visas. She is only on a student visa.

Scott: The only thing that she is really talking about is can I buy an owner occupied property or do I have to buy by investment guidelines.

Frank: From the seller’s perspective, they don’t care.

Scott: No, they don’t.

Frank: If you have the money, the place is yours.

Alissa: Student visas if I am not mistaken are for X amount of years, so it would be . . . don’t call me on this . . .I have to look but, have a temporary.

Scott: I want to say that this, you have to have . . . yeah.

Alissa: I would say for me don’t call me,  but I can look it up but if you are a student it is temporary and generally they don’t like to see that. They being the bank.

Scott: this is almost a residency question. You can’t buy owner-occupancy unless you have permanent residence. So, if the Visa is temporary then . . .

Alissa: I’m going to say no because it is probably temporary.

Scott: Not that she can’t buy, but that she can’t buy as owner-occupied.

Alissa: Right.

Frank: She has to buy as an investor.

Scott: She has to buy as an investor.

Frank: And, pay the investor rate basically which is higher.

Scott: Yeah, but investor rates aren’t that much higher.

Alissa: You have to put a lot more down.

Scott: It is more of a down payment. It is probably 20-30% down payment.

Alissa: And, as a student you probably don’t have it.

Eric: Lori we love you. Thanks for that question.

Scott: Well, welcome to America.

Eric: Yeah, an international student on an F1 Visa now we have figured out a way that yeah maybe there is a way to F1.

Scott: F1 Navy pilot?

Eric: Navy pilot you guys are crazy.

Call 562-888-0404 for more information about Buying or Selling Homes, Houses, and Real Estate in Southern CA, Long Beach CA. and Orange County CA

 

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