[quote=streak]So, should we from the outset buy a home for cash and not be concerned with mortgages and interest rates, re-financing down the line, or do we still rent, paying for 6 months in advance at a time waiting for a decent credit score in order to get a mortgage and at the same time be at the mercy of a landlord paying upwards of $4000 per month for something that will never be ours?
We cant be the first new immigrants with this problem, how have others dealt with it?[/quote]
You are probably correct that with no credit history in the US it will be difficult to get a mortgage but you shouldn’t have to pay 6 months in advance to rent. I know many many people who have come from overseas who immediately rent a place. All the foreign postdocs for UCSD and Scripps find housing. I also know executives from overseas who rent >$10,000/month houses (in the LA area). And as you said, coming on vacation and living here are completely different things.
