Housing
3guides
Mortgages, first-time-buyer help and the fees nobody warns you about.
Getting a US mortgage as a newcomerYou don't need to be a citizen to buy property in the US — but a lender will want US credit history, income documents and a down payment. The 30-year fixed-rate mortgage is the American standard.
First-time buyer help: FHA loans and state programmesFederal and state programmes exist to get first-time buyers over the down-payment wall — FHA-insured loans accept smaller deposits and lower credit scores than conventional lending.
Closing costs, property tax and HOA feesThe purchase price is not the whole price. Closing costs typically add 2–5%, then property tax and — in many buildings and estates — a monthly HOA fee run for as long as you own the place.