Tuesday, February 12, 2019

Mortgage in the US: is it possible to get a home loan to a foreigner?

One of the most attractive countries for work and residence is the United States of America. Is it possible to settle here for a visitor, get a loan for the purchase of housing, a car and open your own business?
Own home or apartment is one of the basic goals of any family. However, most people cannot afford to purchase housing without the involvement of banks or other financial organizations.

The United States of America is one of the most profitable countries in the world for a mortgage loan. The local population is absolutely normal about “living in debt” since interest rates on any type of lending are minimal here.

What to do if you want to buy a house in the US


Having made a decision about buying a home, but not being able to pay its full value immediately, you need to contact the bank. Trust loan for the purchase of real estate is issued on the security of this property. The status of the house, in this case, will be publicly promulgated in specialized publications and included in the register of rights to real estate. In fact, such a house will belong to the bank or financial organization that allocated the loan, until the entire amount and interest are paid.

The average cost of a house with 2-3 bedrooms in the United States varies from $ 70,000 to $ 260,000, depending on the state and the material from which it is built (stone and brick are 20-30% more expensive than wood and frame). For an ordinary citizen, this amount seems quite real, but most people do not want to immediately part with most of their savings or begin to save money on life.

Therefore, they prefer a mortgage for a period of 10, 15 and 30 years. This mode of payment allows you not to worry about the monthly payments, as they constitute from 10 to 20% of family income. Of course, in this case, the cost of the house for the borrower increases and as a result, for the initial $ 100,000, you will have to pay twice as much after 30 years.

However, there are several nuances that allow US citizens to pay smaller amounts:


  • high competition with banks and other financial institutions that provide loans gives a chance to get quite favorable loan terms, bonuses for interest payments on time, etc .;
  • banks' loyalty to the early repayment of loans;
  • the opportunity to get a preferential mortgage for veterans, people with disabilities affected by various natural disasters, representatives of certain groups of professions, etc .;
  • banks willingly provide funds for the purchase of both housings in the secondary market and in the primary market. There is no risk that the house under construction will not be completed or not put into operation on time, as the state takes an active part in insurance of such projects;
  • the opportunity to take a loan from another bank on more favorable terms for early repayment of the mortgage (refinancing).

Types of mortgage lending in the United States


There are two main types of mortgage loans - fixed and floating rates. A fixed rate is always higher than floating, but less risky for long-term loans since you will always pay the same amount.

The floating rate is usually 30-40% lower, but it is rigidly tied to the economic situation in the country, stock markets, and exchange rates, so it can be beneficial only for short-term loans or early repayment.

Mortgage for foreigners in the US


Citizens of foreign countries, US banks also provide loans, but on more stringent conditions. So, if a US citizen issues a loan, then the initial payment for him is minimal (about 10% of the total amount) or not necessary at all. A foreigner will have to pay immediately up to 30-40% of the total amount. Agree, it is essential.

If for local the average interest rate ranges from 2.85 to 4.5%, then the loan is provided to foreigners at 7-10%. Also, the procedure itself will take much longer and more difficult. For example, you will need a letter of recommendation from your bank in your home country and data on an account opened no later than two years ago. There should be an amount of 12 of your monthly income.

You also need a bank account in the United States with the amount of the initial payment, the amount of insurance and reserve, which is at least 12 monthly mortgage repayments and the full cost of loan processing services. On average, if you have an open working or other US visa, a loan for foreigners is at least 45 days.

It is extremely reluctant to local banks to lend to citizens of the CIS because this is associated with many precedents of defaults, late repayment, and fraud. Also, not all of our compatriots have a stable income, sufficient to fulfill all the conditions of mortgage lending for foreigners.

These are just some of the most important aspects of the issue of mortgage lending in the United States, but they will help you create your impression and understand whether lending is beneficial for citizens of other countries (for example, the CIS countries) in America.

US high-yield bond sector will not suffer from tighter lending - Julius Baer

US Federal Reserve published the results of the next Senior Loan Officer Opinion Survey on Bank Lending Practices, SLOOS. To the surprise of analysts, the survey showed a slight tightening of credit conditions for commercial and industrial companies. This dynamic is observed at a time when concerns about the effects of rising credit spreads and declining stock indices in the wake of the current phase of the business cycle are growing in the market.

“Tightening financial conditions in the market is usually regarded as the best tool for assessing the business cycle stage in the economy,” says Marius Allenpach, head of debt instruments research at Julius Baer. “In theory, the survey results only increase the negative effect on market and foreshadow a slowdown in lending growth and, as a result, a reduction in capital expenditures and industrial production, while the Fed experts in the document talk about stabilizing the market after a period of very soft their conditions in the sector, that is, they are cautioned against any worries. According to the regulator, “the standards and terms of lending to commercial and industrial companies have remained almost unchanged.” According to my estimates, a change in lending conditions in the market will not adversely affect the high-yielding US bonds.

Friday, February 8, 2019

Poor Credit Car Loan - Get Approved Online



With most lenders, you will receive a package in the mail the next day which includes a check and paperwork. You simply sign the check over to the automobile dealership or an individual and finish the paperwork. After that, you own a new car.

The application will request basic information such as personal contact information, your social security number to verify credit score, and monthly income. Once you have submitted your application, you will hear from the lender either through email or over the phone.

Online car loan applications take less than fifteen minutes to fill out if you know the loan amount and the terms you want. If you have questions, you can find information on the car loan lender's website or contact them.

You can also pay off some credit card debt to improve your credit score. Also, consider putting down a large down payment.

If you are worried about your chances of approval for a car loan, take the time to look at your credit report which is available for free to US residents. Make sure that all information is accurate. You may also want to include a note in your file explaining the reasons for your poor credit, such as a job loss or health issues.

Car loans for people with poor credit will have higher interest rates. However, after rebuilding your credit history, you can refinance your car loan in as little as a year's time. Just make sure that your car loan does not charge a penalty fee for paying your loan off early.

Car loan lenders make it their job to find you a loan. Whether you are just out of bankruptcy or simply have poor credit, they can find you a financing package through one of their lending partners.

Poor credit doesn't have to stop you from getting a car loan. In fact, car loans are one way of rebuilding your credit history. Online car loan lenders make the application process quick and easy, so you can buy your automobile the next day.

Car Loan Problems

Some people find that they just don't have a credit problem, but they have no credit. What should you do about this? There really is nothing that you can do about having no credit, except trying to build some credit. You can easily build credit by opening up some credit card accounts before you plan on going for your car loan. 

No Credit Car Loans - Even With No Credit History, You Can Still Get Approved


Even if you have no credit history, you can still get approved for a car loan. With a car loan, you can purchase your vehicle and build your credit history. 

Car Loan Value


When you go for a car loan, you need to know the value of the car loan and what you have just agreed to. You should know that your loan has two values. You have an interest value and then you have the actual value. When you put the two together, it's a lot more than you thought you would pay. Even with smaller payments, in the long run, you end up spending so much because of the interest rates. 

Bad Credit Car Loans - Why They Are Easier To Get Than They Ever Have Been


Car loans are easier to get by using an online financing company, even if you have bad credit. You can compare financing rates for the purchase of a new or used car, apply in minutes, and receive a blank check within days. 

Car Loan


When it comes to an auto car loan, you will want to think about taking many actions before you file your application. The first step to getting an auto car loan is to check your credit rating. When you go for your credit rating you are able to know exactly what your chances are. You need to have at least a 640 to be considered in good credit, however, the higher the rating the better off you will be.

Tips On Finding The Best New Car Loan


Finding the best new car loan can save you thousands of dollars over the life of your loan. That is why so important to know where to look in order to find the best new car loan. 

This article offers some tips to help you get started:


8 Year Auto Loans


We are seeing long-term loans of up to 8 years on new cars. Generally, the Financing Department of a Car Dealership makes as much money as the sales department.

Cheap Car Loan


Getting the car that you want does not have to be too expensive. You can find many great deals when you are ready to look hard. However, you will have to find a way to buy the car if you do not have enough cash with you. You may have to get a loan to close the deal and get what you want. This is something that you may want to think about. There are cheap car loans out there that you can apply for and bring that car home.

Preferred Placement Technology Launched with Significant Enhancements to Match Borrowers with Auto Loans


A direct-to-customer, Internet-based auto loan marketplace, announced the launch of their newest version of their significantly enhanced Preferred Placement® technology that uses electronic application evaluation and analysis to process matching borrowers with national lending institutions. 

Car Loan Application


When it comes to the car loan application, you will find that not only will you have to wait some time to be approved, but also you will want to take at least an hour at the dealership The difference between filing an application online and at the dealership is just in time. It's about the same questions, but you can do it in the convenience of your own home. You will be able to get a car loan application at the dealership in the morning, and then fill out all the paperwork during the day. 

Making Cars Accessible Through Secured Car Loans



Enervated by the hectic schedule at the workplace, traveling back to home in a public transport carrier seems to be a grueling task. This reasons out the transformation of cars from luxuries to necessity.

The usual modus operandi in most automobile purchases is as follows:

  1. Recognize the urge for an automobile. 
  2. Check the bank balances.

The US national debt

The US economy is one of the most diversified national economies in the world and has held leads in the global economy for the past 100 years. However, since the early 2000s, as a result of the crises and growth of developing countries, its influence in the global economy has not decreased much.

The country's GDP for 2010 amounted to $ 14.72 trillion, and in 2011 an increase of about 2% is expected. The US national debt to residents and foreign countries, by 2011 is $ 14.1 trillion.

In January of this year, the US Treasury of the country reported that the US national debt reached a historic high of $ 14 trillion. According to forecasts, by 2015 it will reach approximately 19.6 trillion dollars.

The US government can not spend more than the upper limit of the total amount of its possible debt, which is set by Congress - currently, the ceiling is 14.3 trillion dollars. But this does not prevent senators from passing laws that increase government spending and reduce taxation, which is implicit but leads to the fact that the federal government is getting deeper into debt. The government has already raised the issue of increasing this bar, but politicians have failed to agree.

This inability to reach an agreement extremely negatively affects both the economic situation in the country and the image of politicians and the United States itself in the eyes of world investors. So, S & P has already lowered the outlook on the country's rating, warning that it will deprive America of a higher rating if its politicians cannot solve the problems of public debt.

How trade wars are changing the US economy


Data on the US trade balance are the most visible example of the assessment of the Trump administration. It is these figures that make it possible to understand how trade wars with China and other countries are useful for the country's economy.


According to the data for November, the US trade balance deficit decreased by 11.5% and amounted to $ 49.3 billion. Thus, the negative balance fell to its lowest level in the last five months, while in October it was a record since 2008.

In general, these data can be called positive, and Donald Trump can safely show the public the schedule of the trade deficit, which began to turn in the right direction.

On the other hand, the reduction in the deficit occurred against the background of a decline in both exports and imports, which can hardly be called a positive development of events.

Exports from the United States in November decreased by 0.6% from the previous month to $ 209.87 billion. The volume of imports of goods and services fell by 2.9% to $ 259.19 billion.

Apparently, it was possible to reduce the trade deficit mainly due to the reduction in purchases of oil and oil products, and the oil deficit fell to $ 0.6 billion - the lowest level in the entire history of observations.

It is worth noting that the trade deficit with China has also decreased. The figure in November fell by $ 2.8 billion to $ 35.4 billion. Of course, this Trump can also write to the asset, but you need to wait for the publication of more recent statistics, only then it will be possible to draw conclusions.

We add that exports to China fell sharply.

Add that the trade surplus with South and Central America in November was a record ($ 5.4 billion), exports to Japan were also a record ($ 6.9 billion).

Quite recently, China and the United States held a regular round of negotiations, during which China seemed to agree to reduce the imbalance in trade with the United States and begin to actively increase imports of American agricultural products and energy.

However, the position of the Americans is very tough: they demand that China open its market, otherwise, Trump promises to increase duties from April 3.

The outcome of the confrontation is difficult to predict because the Chinese understand how agreement for US demands can turn out for them.

The parties plan to continue high-level talks next week.

US Secretary of the Treasury Stephen Mnuchin, speaking on Wednesday in front of journalists at the White House, confirmed that he and sales representative Robert Lightheiser would go to Beijing "with a big team."

Both sides express a desire to reach an agreement towards the appointed end of the temporary truce in the trade war. If the agreement is not reached by March 2, American duties on Chinese goods worth $ 200 billion will be raised from 10% to 25%.

The United States accused Huawei of spying

The Chinese company Huawei, in the opinion of the American authorities, has violated the sanctions regime with Iran, engaged in banking fraud and industrial espionage. 

The US authorities have charged the Chinese company Huawei, several of its US branches and the Chief Financial Officer of Meng Wanzhou with a series of crimes. These include banking fraud, violation of sanctions, obstruction of justice, as well as industrial espionage.

In particular, Maine Wanzhou, who was detained on December 1 in Canada, is accused of providing inaccurate information to American banks regarding the business ties of the Chinese company with Iran. She was later released on bail. The United States is seeking the extradition of a financial director.

In addition, Huawei is accused of stealing trade secrets from its American partners. This applies primarily to the development of the company T-Mobile in the field of robotic phones.

In May 2017, T-Mobile, by a jury in Seattle, received a payment of 4.8 million dollars from Huawei, the American newspaper SeattleTimes reminds.

Over the past months, the US authorities, fearing leaks of personal data, have repeatedly warned other countries against using telecommunications equipment supplied by Huawei's American partner companies. The Chinese technology giant each time denied these allegations, demanding that the United States provide evidence.

In January 2019, Huawei’s sales manager in Poland was arrested on charges of spying for Chinese intelligence. After that, Huawei fired him.

American financier and billionaire George Soros, speaking January 24 at the Taoist Forum, warned about the dangers of the uncontrolled development of technology in China. "Instead of entering a trade war with almost the entire world, President Trump should focus on China," the financier said. Chinese telecommunications concerns ZTE and Huawei in the US, he said, are giving the green light. If Chinese firms can establish a dominant position in the fifth-generation (5G) high-speed mobile communications technology market, then, according to Soros, for the rest of the world this will mean unpredictable information security risks.

The oil market is waiting for data on stocks in the US

Despite all the attempts of the "bulls" to drag Brent oil (UKOIL) above $ 64 a barrel, locally the initiative is still reserved for the sellers. Brent consolidation in a narrow range of $ 60-62 per barrel, continuing from December, indicates the absence of powerful fundamental triggers on the market. Probably, market participants are waiting for the outcome of the trade dispute between the United States and China, which for a long time remains the key reason for constant talk about the prospects for a slowdown in global economic growth, directly affecting the demand for raw materials.

The trade truce between the countries expires in March, which means that the US and China have only one month left to resolve all differences and sign a bilateral trade agreement. Otherwise, concerns about the future growth rate of the world economy will condemn the oil market to a long-term decline. Until then, we recommend working with a local news background.

According to forecasts, the Energy Information Administration will report a decrease in oil reserves, which is fully in line with expectations for the refinery’s seasonal maintenance period. In this scenario, oil quotes are fully capable of resuming previous growth. An additional factor in price support may be a weak dollar. We remind you that the decline in the US currency has a positive effect on raw materials whose value is denominated in dollars. Considering the above, “long” positions on oil look more promising.