If Nigeria citizens want to move in the USA, they are welcome to borrow payday loans only if they are legal permanent residents. The requirements remain the same: valid ID card, income prove and an active checking account.

loansnigeria In the situation mentioned above, the client can apply for a mortgage loan for the acquisition of a building, even if the pre-contract was signed using the identification data prior to obtaining citizenship and implicitly prior to obtaining the identity card.

It is more advantageous for the client to wait to obtain US citizenship in order to apply for the loan, because he has several options for financing possibilities.
At present, banks are restrictive in granting loans to foreign clients, regardless of where they get their income. This type of client presents a high degree of risk, which is why contracting a loan is difficult or not possible. Some financial institutions may accept the loan request but it implies more credit checks.

Depending on the size of the loan and the debt repayment system, the schedule may be 1 - 3 years. Shorter-term loans are available for the non-US borrower but are limited by the laws of many countries. This is due to major monthly contributions, which may not exceed 30% of the client's income.

If the applicant is an US citizen, he can choose any US financial institution, with real chances of success, if he meets the eligibility conditions. It is also offered the possibility to choose good credit costs, compared to the situation in which the applicant is a foreign citizen and can only be included in banks that accept this type of income.

Some financial institutions have special conditions for granting these loans. For example, you can request an American co-borrower who obtains income from the USA or a proof of the client's connection with our country (the person works here, he/she is married to an American citizen), to avoid problems with lenders.

Documents for obtaining loans to non-US citizens

To payday loan, a nigerian must bring a small package of documents. Most often, when concluding a loan agreement, you need to:

  • patent or work permit, decorated in all FMS requirements;
  • original or copy of the employment contract;
  • passport with a temporary registration mark;
  • income certificates.

But all these are needed only if the person doesn't have a legal permanent residence. It is best to take out a payday loan, in which a foreign expense has been opened. The presence of a co-borrower, a Nigerian citizen with US permanent residence, can also play a positive role in the design of the loan. She or he will help to obtain a loan and a certificate of income from the non-resident's home country.

Bottom Line

  • Banks will not offer a consumer loan to a non-resident.
  • Mortgage lending and car loan banks provide foreigners who collect all the necessary documents.
  • A foreigner can borrow cash from a direct lender or a pawn shop.
  • The bank can request a temporary registration, a certificate of income, a work certificate, a copy of the employment contract with a foreigner.
  • The bank approves a loan more often if you have a foreign paycheck account.