What is considered permanent residence?

What is considered permanent residence?

A lawful permanent resident is someone who has been granted the right to live in the United States indefinitely. Permanent residents remain the citizen of another country. So every time you travel outside the United States, you must carry the passport of that country with you, as well as your U.S. green card.

What is the difference between residence and permanent residence?

There is a difference between a residence and permanent residence. Resident Visas have travel conditions that only allow a person to re-enter New Zealand as a resident until a certain date, while a Permanent Resident Visa allows indefinite re-entry to New Zealand (providing the passport is valid).

What qualifies as a primary residence?

A primary residence is the main home someone inhabits. Your primary property can be an apartment, a houseboat or another form of property that you live in most of the year. Primary residences tend to qualify for the lowest mortgage rates.

Can I let my first property?

And the answer is no, you can’t. Residential mortgages are for properties that the borrower will live in and call home. Because first-time landlords who own no other property pose a greater risk to lenders, the size of deposit lenders require is higher than with residential mortgages.

Can I live in my buy to let property?

Whilst you might get consent to let for a short period on the flat from your residential mortgage lender, it is not possible to live in a property that has a buy to let mortgage on it, so you will need to refinance.

Should I buy my own house first or an investment property?

Instead of buying a home and paying the mortgage yourself every month, consider a first time buyer investment property to rent out. Plus, charging more for rent than your monthly mortgage payment will produce extra cash flow that can go towards debt, bills, rent or savings for the down payment of your next house.