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Updated 6 months ago, 06/20/2024
Can Canadians with no credit history in USA Assume the seller's mortgage?
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!