As the largest economy in the world, the United States has a perfect loan system. China people can apply for a loan in the following three channels when buying a house in the United States: 1. Loan Brokers More than half of the housing loans in the United States are completed through loan brokers, who act as intermediaries between borrowers and lenders. The loan broker can negotiate the fees directly with the buyer, and can achieve the lowest loan interest rate and the least fees for you. Therefore, it is a good choice to find a "reliable" loan broker for people who are not familiar with American loan purchase affairs. However, professional services will also charge a certain fee, and loan brokers usually charge 1% of the loan amount. 2. The loan interest rates provided by commercial banks such as Citibank and Bank of America Bank are very competitive. If you have a checking account or a deposit account in these businesses, you can also enjoy preferential loans. 3. mortgage bankers mortgage bankers can provide loans for you on behalf of one or more banks, but this loan service is limited to the customers of these banks. For most China investors, consulting American commercial banks with branches in China is the main way to borrow money. Principles and conditions of loan issuance In the United States, the core principle of mortgage loan issuance is that the collateral value is sufficient, and the applicant has a good reputation and a continuous source of income, which is not directly related to the applicant's identity and nationality. At present, in most states of the United States, foreigners (without American green card) can purchase American real estate through loans, but the down payment is usually 40-50%, and because there is no American credit record and proof of income source, the lending institution will additionally ask the lender to pay the interest of 1-2% higher than the market level.

How about working at the Federal Housing Loan Bank?

The Federal Housing Loan Bank (FHLB) is a government-supported financial institution that provides financing and other services. As a large financial institution, it provides a wide range of career development opportunities and has a high level in employee welfare and training.

Specifically, working in FHLB may face the following situations:

1. Work stability: As a financial institution supported by the government, it can still maintain a relatively stable operation during the economic downturn.

2. Career development: FHLB has many departments and fields that can provide various types of positions and promotion opportunities.

3. Benefits: Companies usually provide competitive benefits, including medical insurance and retirement plans.

4. Training and learning: FHLB attaches importance to employee training and learning, and encourages employees to take internal or external courses and professional certification examinations.

Of course, working in any company requires hard work and needs to adapt to the company culture. If you are interested in this, please learn more about the company and seek relevant work information.

How much down payment do you need to prepare for a US loan to buy a house? What will happen if you can't get a mortgage in America?

How much down payment do you need to prepare for a US loan to buy a house?

In the United States, the key to issuing housing loans is that the collateral has sufficient use value. The applicant has a good reputation and a fixed income, which is not directly related to the identity and nationality of the applicant. At present, in most states in the United States, foreigners (without American green cards) can buy American real estate by stages, but the down payment is generally 40-50%. At the same time, because there is no American personal credit record and proof of the source of funds, the loan company will additionally stipulate that the borrower will pay interest higher than the sales market level 1-2%.

The down payment ratio should not be too low: more than 20%: generally, you can get a better interest rate. It must be noted that many housing loan companies have fixed interest rates, such as 20%, 10%, 5% and so on. If your down payment is only 19%, you'd better try your best to find more money to make up for 20%, and the interest rate may be much lower. In addition, many housing loan companies stipulate that the down payment for apartments is not less than 20%.

10%-20%: Single-family villas and townhouses can usually make a lower down payment, but this generally means higher interest rates. If your down payment is only 9%, you'd better make up 10%.

5%- 10%: Fannie Mae housing loan, with a down payment of at least 5%; JumboLoans down payment shall not be less than 10%.

3.5%: This is also the minimum down payment for FHA housing loans. It is difficult to apply for a successful housing loan below 3.5%.

In the United States, the federal government's low-interest loans are stipulated by the US government departments, and the down payment only needs to be 3.5% of the total house price, but the federal government's low-interest loans need to bear the commercial insurance of house mortgage. So although the down payment is low, there are extra expenses.

What will happen if you can't get a mortgage in America?

1. The down payment will be given to the real estate agent for free.

You have to pay a down payment before you can apply for a mortgage at the bank. Therefore, if your housing loan is not repaid, it is impossible for you to repay the down payment.

2, the cost of buying a house has also gone down the drain.

Buying a house is not an easy task, especially in terms of expenses. What real estate deed tax, housing maintenance fund, city supporting fee, decoration fee, etc. Must consume. Therefore, if your housing loan is not paid back, this kind of expenditure will be wasted.

3. Personal credit report is damaged.

It's bad enough that the house is gone, but the owner's personal credit report will also bring stains after the mortgage is cut off. And if you are likely to be in a state of working capital difficulties, it is already difficult to get through the crisis according to the loan after the personal credit report is damaged. Because, after the personal credit report has caused a stain, it is basically impossible to apply for a loan.

4. Debt collection

Financial institutions are afraid that you will not pay back the money. After you cut off the loan, the financial institution will definitely make a debt collection. As for the means of debt collection, it depends on the mentality of the debt collection company of the bank, but life will never be easy.

This house was auctioned off.

The worst result is that the house is auctioned by the bank, and the proceeds from the auction are used to offset the accounts. Moreover, financial institutions want to bid for your real estate through the people. After the financial institutions appeal successfully, you still need to pay the lawyer's agency fees, legal fees, protection fees and other expenses.

6. Money owed to the bank

After the house is auctioned, if the proceeds from the auction cannot cover the bank loan. Then we not only lost our house, but also owed a lot of money to financial institutions.

Therefore, if the mortgage is not paid, the most appropriate choice is to apply to the insurance company for an extension, even if it costs several hundred yuan a month, the house can survive, and it is too late to start again after the difficulties have passed!

How much does it cost to buy insurance for American houses? What is the mortgage policy in the United States?

1. Do I have to buy a house in home insurance to get a loan in the United States?

If you need a loan to buy a house, the loan company will want you to buy the owner's commercial insurance before the property transfer.

2. How much does it cost to buy commercial housing insurance?

The cost of each commercial insurance is different. For example, earthquake insurance: in areas with high earthquake disasters, a house with a use value of 200,000 US dollars needs about 400-600 US dollars of earthquake activity insurance every year, which is basically equivalent to the owner's normal housing insurance premium. In areas where earthquake disasters rarely occur, the premium of earthquake disaster insurance is relatively low.

3. Is there any way to reduce the housing insurance premium?

Generally speaking, increasing the out-of-pocket amount can reduce the housing insurance premium. In addition, the insurance premium can also be reduced by reducing the amount of commercial insurance or co-insurance of houses and vehicles. In addition, some insurance companies give 9.5% discount to customers aged 3 to 5, and 10% discount to customers over 6 years old. As a last resort, you may get a 5% discount to improve the safety factor of the building, such as installing smoke detectors or alarm systems.

What is the mortgage policy in the United States?

Whether Americans can afford to buy a house depends largely on whether they can get loans from commercial banks, and whether financial institutions can lend depends on the income analysis of borrowers. Under the premise of Dodd-Frank Act, the Consumer Financial Protection Bureau of the United States promulgated the new regulation of the American housing loan market, and announced its implementation on June+10/October 10, 65438. According to the policy, the lender must confirm that the borrower can really repay the housing loan. Therefore, lending financial institutions must consider a series of factors, such as the lender's income, current debts, personal credit records and so on. To confirm the physical and mental health of the borrower.

As early as last year, American commercial banks began to upgrade their technology, write new loan procedures and train their employees to meet the latest control policies. Some insiders believe that in the next few weeks, the whole process of the borrower's application is likely to be less smooth, including long waiting time and strict review. Humphries, chief economist of Zillow, a real estate information website, said that in the first two months of this year, the whole process of short-term mortgage approval may not be so smooth, because lenders need to switch to the new system, but the latest policy should not cause too much harm to the US real estate market.

According to the data released by the American Banking Association, the number of mortgage-approved products in the United States has been declining recently, reaching the lowest level since nearly 13, which reflects the impact of rising interest rates on American mortgage loans. In addition, the mortgage organizations of Wells Fargo and JPMorgan Chase have previously warned about the prospects of the commercial market, arguing that the shrinking demand for loans is actually more serious than expected.

It takes about two months for overseas buyers to apply for a loan to buy a house in the United States. While property prices are soaring, the annual interest rate is also rising rapidly, which will have a great impact on the transaction volume. Some analysts said that the US property market now relies too much on customers who pay the full amount in one lump sum, but the national housing price increase must rely on traditional customers who borrow money through mortgage loans. Therefore, the increase in loan standards and interest rates is likely to hinder the recovery of the US housing market.

According to the report of Goldman Sachs, before the financial turmoil, the proportion of "one-time payment" transactions in the United States was only 20%, and now it has risen to nearly 60%. It is worth noting that the results previously published by the National Association of Realtors show that American investors have become the second largest foreign customers in the US real estate market. When many Americans are overwhelmed by heavy housing loans, 70% of American buyers buy houses in full.

What is the mechanism and audit method of American real estate loan? How to calculate the US real estate transaction tax?

What is the mechanism and audit method of American real estate loan?

First, good credit.

According to the verification of their social security numbers, all lenders have obtained personal credit report results from the three major credit evaluation companies. At this stage, all banks will use the middle value in the three reports as the credit approval result. This figure sums up my previous credit history and evaluates the probability that the lender will repay on time in the future. Strong credit score, not only eligible to apply, but also get a better annual loan interest rate.

The credit index is based on the evaluation of the following items:

Historical payment time: Is it paid on time? Do you have a good habit of paying late? How many times? 30, 60, 90 days late? How long will it last? In this year's? Last year? Do you have a bankruptcy record? Have you ever been collected by others? Yes, does the IRS have a debt record? Do you owe child support? In fact, the record of the house loans overdue is what the bank is most concerned about, so it will go back a long time. Other credit card overdue repayment records, more than one year, can not be regarded as assessment.

Credit card credit limit: The greater the credit limit, the better the credit. However, the amount of monthly credit consumption cannot exceed 50% of the total amount, otherwise it will be deducted. The higher the expenditure exceeds the total amount, the greater the fine. Time of credit record: Banks must evaluate at least four credit lines, two of which need more than one year of credit record time.

Credit type: I have obtained several types of loans, such as mortgage, credit card, car loan, student loan, department store credit card, and refueling recharge card. It is wise to have various types of credit. Frequency of credit verification: points will be deducted for each credit verification. There are too many people arrested, so it is necessary to write a letter explaining the reasons.

Second, relatively stable income.

This is also the guarantee for issuing loans. Generally speaking, the monthly income should be 2.5 times the loan cost. At present, the debt ratio DTIRation (debt/income) is below 55% of income, and the standard of each bank is different, but it can be calculated by formula. The loan cost, loan interest, real estate tax, and fire protection are all 55% of the total monthly income of bank credit (recorded from the credit table).

There are two standards for approved income: relatively stable income. The lender has a record of continuous operation for more than 2 years in its industry. A source of sufficient income. Income can be confirmed by the following methods: fixed salary: used for wage earners, given a two-year W-2 form, and approved according to pre-tax wage income. Manager of self-employed enterprise: Obtain the 1099 form, give it to the 2-year bonded area form, and calculate the 2-year average annual income according to the after-tax salary AGI.

Three. Proof of funds

This is also important to ensure the quick settlement of loans. Such as savings account, checking account, time deposit account, retirement account and stock market. The down payment and house purchase expenses, plus the monthly housing loan amount of 3 months, must have relevant certificates of deposit in the bank for more than 2 months.

Please put in your cash as soon as possible. If you want to buy real estate in the next two months, first deposit the cash in the bank, and then copy the details of bank income and expenditure for two months (full page number) as proof of funds. If the amount of housing loan is small or the net value of the whole fund is low, the bank refuses to accept the printed copy from the Internet unless there is news information such as the full name, location and account number of the lender applying. (Generally, the network version number cannot be displayed)

All savings except monthly income at work must be accompanied by a letter of expression, indicating the source of the money (LOE-LetterofExplanation). If the large deposit certificate is remitted abroad, the source of the money shall also be explained and confirmed. Generally, the remittance receipt shall prevail.

Fourth, the value of real estate.

This is also the limit for determining the amount of available loans. After all, it is a real estate mortgage loan, and its value as collateral is particularly important. Most owners choose the loan scheme with LTV80% (loan amount/house price) and below. Because the loan exceeds 80% of the pledge ratio, they must also have commercial insurance for loan payment, that is, PMI(PrivateMortgageInsurance).

Depending on the loan amount, the monthly insurance premium ranges from 150 yuan to $250. The smaller the LTV. The better the loan scheme and annual interest rate. Nowadays, banks strictly examine the income of lenders.

American property tax calculation:

There are two main elements of real estate tax, real estate valuation and collection rate. These two items are calculated by government departments, including county government departments, municipal people's governments and campuses. They collect county tax, city tax and school tax. Generally speaking, real estate tax is the sum of these three taxes. The ratio of these three items is generally 1: 1:5. Campus tax is more.

The main purpose of American real estate tax:

Real estate tax is the financial source of every local government department and local public school. If he earns too little, he can't hire police, repair roads and sewers, and have no good facilities on campus, which will directly affect the quality of life of local residents and the use value of local real estate. Therefore, the average American homeowner, in particular, rarely raises any objection to the correctness and amount of real estate tax. The general consciousness in the United States is that it is the responsibility and obligation of families to pay more asset taxes, and government departments rely on taxes to help the public.

Which two financial institutions in the United States provide subprime loans?

Last week, the two largest mortgage financing institutions in the United States, the Federal National Mortgage Association (Fannie Mae) and the Federal Mortgage Corporation (Freddie Mac), broke the news that their financial situation was deteriorating, and their stock prices plummeted. The US government has also launched an emergency "fire fighting operation". In addition to providing financial support for Fannie Mae and Freddie Mac, it also took over another bankrupt mortgage institution, IndyMac Bank of California. The crisis of mortgage institutions will further drag down the already weak American economy, and will have an impact on the rebound of the US dollar and the confidence of the US and global capital markets. For a time, the American economy seemed to be completely shrouded in the shadow of the subprime mortgage crisis. Fannie Mae and Freddie Mac were established in 1938 and 1970 respectively. These two institutions play a central role in the American housing financing system, and they are the institutions established by the US Congress to ensure the capital flow in the housing loan market. The main business of these two companies is to buy mortgage loans from mortgage companies, banks and other lending institutions, and package and sell some mortgage loans to other investors after securitization. The total value of mortgage loans owned or guaranteed by these two mortgage institutions is about $5 trillion, equivalent to nearly half of all mortgage debts in the United States. The plight of Fannie Mae and Freddie Mac has aroused great concern. Since Fannie Mae and Freddie Mac are mainly engaged in mortgage business other than subprime mortgage, investors are worried that their plight indicates that the subprime mortgage crisis triggered by the bursting of the US housing bubble may turn into a broader "mortgage crisis", which will further increase the risk of financial turmoil in the United States and even the world. The subprime mortgage crisis, high oil prices, high inflation and other uncertain factors affecting the global economy are still continuing. World economic growth will continue to slow down in the second half of the year, and emerging market countries should pay special attention to the risks of economic fluctuations.

This is the end of the introduction of the American Housing Loan Bank and the American Housing Mortgage Interest Rate. Did you find the information you needed?