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Old 28.11.2017, 22:02
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US property mortgage for US expat

Hello Everyone,

I would appreciate hearing from anyone who was successfully able to obtain a mortgage for a property in the US while working in Switzerland.

I am a US citizen working in the Basel area since mid 2015 and would like to buy a home in the US. I understand it would be considered as an investment property, but my Bank in the US (Bankofamerica) doesn't have anything for people not living/working in the US.

Any feedback/information would be appreciated
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Old 28.11.2017, 22:44
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Re: US property mortgage for US expat

I doubt you'll find anything. As you've discovered American banks don't do mortgages for people outside the US and Swiss banks won't touch you with a barge pole due to FATCA.
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Old 29.11.2017, 00:13
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Re: US property mortgage for US expat

See if you can borrow money from banks in Utah or Delaware. Nevada is also apparently very good. FATCA does not apply to US banks' US business.

Funny that
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Old 29.11.2017, 20:55
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Re: US property mortgage for US expat

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I doubt you'll find anything. As you've discovered American banks don't do mortgages for people outside the US and Swiss banks won't touch you with a barge pole due to FATCA.
Facta has nothing to do with Swiss banks not giving mortgages on foreign properties. The fact that the property is the collateral and the fact that if you default on your loan the Swiss bank can not confiscate your property is more likely to be the issue.
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Old 30.11.2017, 10:32
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Re: US property mortgage for US expat

Give these guys a try: https://www.sdfcu.org/

They may be able to help you.
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Old 30.11.2017, 15:47
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Re: US property mortgage for US expat

Do you by any chance bank with one of the Big 2 here? If so, have your client manager here introduce you to the appropriate person at the partner bank in the US.

(Be aware that the US and Swiss banks are wholly separate entities.)
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Old 30.11.2017, 16:07
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Re: US property mortgage for US expat

you need a 'portfolio lender' - i.e. a lender you keeps the mortgage rather than selling it on. it won't meet the standard criteria for re-selling.

the only popular bank i know of is wells fargo. they should do it for you.
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Old 30.11.2017, 16:08
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Re: US property mortgage for US expat

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Do you by any chance bank with one of the Big 2 here? If so, have your client manager here introduce you to the appropriate person at the partner bank in the US.

(Be aware that the US and Swiss banks are wholly separate entities.)
So separate for one of them that it doesn’t exist anymore!

I suspect if the OP isn’t HNW (CHF 5m+ in assets with the bank) this will be a non-starter.
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