Real estate · Reinvent NY glossary
A mortgage is a type of loan specifically used to purchase real estate. The borrower agrees to repay the loan over a set period, typically 15 or 30 years, with the property serving as collateral. If the borrower fails to make payments, the lender can foreclose on the property to recover the outstanding balance.
In the United States, mortgage rates can be fixed or adjustable. Fixed-rate mortgages maintain the same interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) have rates that change periodically based on market conditions. Borrowers typically need a down payment of 3% to 20% of the purchase price, a satisfactory credit score, and proof of stable income.
Foreign nationals can obtain mortgages in the U.S., though the process differs from that for citizens. International buyers typically face higher down payment requirements (often 30% to 50%), higher interest rates, and additional documentation requirements. Some banks specialize in foreign national mortgages and accept alternative forms of credit verification. E-2 and L-1 visa holders with U.S. credit history may qualify for more favorable terms.
The four states international buyers ask about most: New York up 5.2% on the year, California at a 4.22% yield, and what Texas and Florida really cost.
Indiana, Missouri and Ohio in 2026: state gains of 3-3.5% on the year with yields of 5.75-6.61%, and the secondary cities quietly outperforming the metros.
Baltimore in 2026: a $192,669 typical value, $1,799 rents and an 11.2% gross yield — the highest on the Northeast corridor, and what the price is telling you.
Ohio in 2026: a $251,502 state median up 3.5% on the year, with Cleveland at a 14.13% gross yield and Columbus at 6.96% — and what separates the two.
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