Can Foreigners Buy Property in the USA?
Buying property in the United States is a good idea for people who look for a new home and for those
who look for an investment. Whether you want to purchase land in the USA (Text 2) or need a house,
you will find out that the United States market is rather friendly for foreigners. Although the buying
process requires a lot of paperwork, rules for foreigners buying property in the USA are very similar
to those for the U.S. citizens.
Can a Foreigner Buy a House in the U.S.?
Among all the concerns of foreigners buying property in the U.S., the following are the most popular:

Do I need to become a citizen to buy a home in the U.S.?
You do not need to have a United States citizenship, green card, or even any specific type of visa to
buy property in the USA. The first thing you will need is an Individual Taxpayer Identification Number
(ITIN). In order to request it, fill out and submit the ITIN application form (IRS Form W-7) to the
Internal Revenue Service (IRS). There is also a special version of this form called IRS Form W-7SP
for Spanish-speaking individuals. Depending on the nationality, you may need a foreign passport, a
visa, and a United States ID to strike a bargain.
Foreigners also have right to get a mortgage, including home and land loans (Text 9), though it
requires some preliminary work. Most lenders in the United States are ready to give their international
clients loans up to 50% of the sales price. At the same time, being a foreigner, you may have to pay
a higher interest rate. Besides, before submitting a mortgage application, you need to earn a good
credit score first.

Do I get a green card if I buy a house in the U.S.?
The foreigners cannot obtain a green card if they simply buy house in the USA. In general, owing a
land or a home will not give you any special immigration benefits. Foreign investment in U.S. real
estate can help you to apply for a visa (E-2 Investor Visa) if you wish to set up a small business in
the United States, can invest at least $100,000, and meet some other specific requirements.
If you intend to obtain a Green Card through an investment in real estate, the best way to do it is to
take part in the EB-5 Immigrant Investor program. According to this program, you and your immediate
family can qualify for a green card if you invest a minimum of $500,000. Note that EB-5 visa requires
investment into third-party Regional Centers and is not connected with buying a house or real estate
for your family.

Is there a type of property I can't purchase in the United States?
The United States government does not restricts foreigners from buying property in the United
States. You are eligible to purchase duplexes, single-family homes, townhomes, triplexes, land, and
other property. However, housing cooperatives (co-ops) may have separate internal rules intended
to deter foreigners from purchasing their apartments. The main reason is their concern that the
foreign buyer will leave the property or rent it out, when the owners of the building prefer buyers who
regard the bought apartment as their primary residence. Moreover, holding a foreign owner liable in
the court is more complicated. Even if the judgement is for the co-op, it is almost impossible to collect
on the judgement since the apartment owner’s assets are in a foreign country.
That is why, most of the real estate agents will advise you to look for individual houses or
condominiums instead. If you still wish to buy an apartment in a co-op, you will have to prove that
your main income is from the United States source and that you have considerable assets in the
United States. Even in this case the co-op board may disapprove your purchase without an
explanation.
When you buy a property in the USA, you should remember about the taxes. The tax question is
complicated and depends on your country of origin. In the United States, you usually have to pay
the same taxes as the citizens. The exception is the FIRPTA – Foreign Investment in Real Property
Tax Act. The FIRPTA regulates withholding and taxations you may be subject to when selling your
United States property.