How to Buy a House in America : Detailed Guide

U.S. According to Census Bureau data, the number of Bangladeshis living in America till 2019 is 2 lakh 8 thousand, 19 years ago in 2000 it was 57 thousand. This number has increased more than 3.6 times in just 19 years and the number is growing. This number is increasing not only because of the new generation of Bangladeshis born in America, but mainly because of the Bangladeshis who come to America from Bangladesh in search of income, to pursue higher education and to live in a developed country. Most of the American Bangladeshis are renting houses. For a normal quality house in New York, you have to pay from 1500 to 4 thousand dollars per month, and if you want a very good quality large family residence, you have to multiply 18, 20, 30 thousand dollars or more per month. Therefore, most low-income American Bangladeshis strive to buy a home so that a large part of their hard-earned income does not go to rent every month. 

They want to spend it on their children's education, send remittances to the country. Many people plan and hold back only to think that buying a home is a big hassle and requires a huge lump sum of cash. In reality these assumptions are not correct in most cases. Many people don't even know that being an American citizen is not a requirement to buy a house in America. As complex and confusing as it may seem, buying a home in America is actually a much easier, safer and more transparent process. However, as the law is strictly followed, both the buyer and the seller have to be knowledgeable about many things.

  We created this guide and a video by following the most reliable sources and US government regulations. The process of how to buy a house in America is described step by step. Hope this detailed guide and video will be helpful for Bangladeshis and Bengalis living in America. So without delay let's see how you can buy a permanent residence in America for your safety, status and assurance for yourself and the next generation.

First of all let's briefly say the steps. 

1. You need to know which state and town you are buying a home in and get a rough idea of its value. 

2. Then find out how much cash you have and what your credit score is, and if you don't have a social security number, apply for one and keep it 

3. Get an idea about the maximum loan amount you can take from the bank by understanding how much your income is, how stable it is, etc. 

4. Keep the last 2 years property and filing and tax return documents in collection. 

5. Now find a realtor 

6. Apply for mortgage loan and get pre-approval letter 

7. Inspect the home with the assistance of a realtor 

8. Get an inspection done by an inspector 

9. Make an offer i.e. propose a price for the house to the seller, this offer is made by the realtor 

10. If the offer is approved you will need to apply to the lender for an appraisal and negotiate with the seller again with the appraisal report, fix a date for the negotiation. 

11. If the negotiation is successful, now contact the lender so that they give the loan 

12. Buy a Home Owner's Policy 13. Complete the home buying process with the closing.