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Private Lending & Conventional Mortgage Advice

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David Light
  • Rental Property Investor
  • Tomball, TX
43
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134
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Partnering in Texas from the UK

David Light
  • Rental Property Investor
  • Tomball, TX
Posted Aug 2 2015, 09:22

I've searched the forums and still have a few questions on this one.

I currently live in the UK and have a house under contract with a partner in Texas. The purchase needed to be cash to get the deal so we're looking to refinance within a year. I've previously been told that because I'm paid in GBP I can't get financing in the U.S. My partner is good to get the mortgage with the bank on his own if needed.

Should the house be in the partnership name or will my being in the UK impact the financing then? If the house is just in his name do we just have an agreement that the house, outside of the deed, is part of our partnership and its terms?

Thanks in advance for any help.

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