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Updated over 11 years ago, 04/30/2013
Owner-occupied financing for American living abroad
Hi,
I have plans to purchase my first investment property in my hometown over the summer. It's listed as a triplex; however, the unit upstairs has a spare bedroom across the hall. My mentor encouraged me to look into owner-occupancy financing as an option. Considering the fact that I live and work overseas, would any lenders allow this? I do not want to pursue this option if it is in any way illegal or misleading.
Details:
My tax base is Japan; my salary is paid in yen.
I have never owned a home in the US.
I go home every summer for a few weeks and stay at my parents' house.
I currently use my parents' house as my home address, except for IRS
I have two open bank accounts in the area
I have a valid US drivers license
I do not have intentions to move
Thank you very much for your advice! If you would suggest an alternative for financing my first home from abroad, please let me know. I want to start off my career in real estate the right way.
Matt