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Updated 6 months ago, 06/20/2024

User Stats

5
Posts
2
Votes
Martin Yip Toll So
  • New to Real Estate
2
Votes |
5
Posts

Can Canadians with no credit history in USA Assume the seller's mortgage?

Martin Yip Toll So
  • New to Real Estate
Posted

Hi Bigger Pockets!

I've recently came across this technique of assuming the sellers mortgage when purchasing the house. I am a Canadian investor and I am looking towards diversifying my portfolio in the US.  Given that I do not have any American credit established, the technique of assuming a mortgage is very attractive to me.

However, my concern is that will I be eligible to assume a mortgage given that I am not American? I've checked out some posts and some people say that although you can assume a mortgage, banks will look at your credit score and unfortunately as I already know, Canadian credit history doesn't follow me when I decide to buy a house in the US

Anyone know the answer to this? Thanks!

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