American mortgage

[oscarp]

Hi,

I'm planning to move to California in about 3-4 years time (my wife is from there).
We have an option of buying a relatives house, and are considering buying in the next year and renting it out until we move over.

Any advice on getting a mortgage in the US, even though we'r resident in Ireland now? any issues on renting we should think of?
It will be a short term investment, as we will move over at some stage.
its early days now, we're doing research over the coming months to see what we need to do.

Thanks

 

[flyertalk]

Since your wife is a US citizen, going through her might be the best way to establish credit in the USA.

Did she ever work there?
Has she/you got a social security number?
Did she ever have/apply for credit in the US?
Did she ever work in the US?
Did she ever have any utility bills in her name?

If she has some of the above, then she may have a credit rating. For $15 US you can look it up at myfico.com It will ask her for date of birth and social security number and a question about her financial past.

I would do so research before simply buying from a relative. Now is not a good time to place a value on a property in the US. What would be wrong with renting when you first get there? Do you really want to have a rental property 8000 km away in an uncertain market?