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[Help] Mortgage Lending - Based on Foreign Income?

Discussion in 'BBS Hangout' started by Sooty, Aug 25, 2015.

  1. Sooty

    Sooty Contributing Member

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    Does anyone know of any lenders on Houston that lend mortgages based off foreign income?

    I'm looking into buying a property but just trying to figure out the best way to lend money seeing as those my primary source of income is through my job in Australia. I do work here during the day but that's just supplemental to whatever I earn - anyway that's beside the point.

    Any information would be greatly appreciated! Cheers

    EDIT: I'll have a pair of Rockets tickets to a game if someone can help me out/point me in the right direction.
     
  2. TMac'n

    TMac'n Contributing Member

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    I'm not an expert but You might be better off with an Australian bank to loan the money. Does Chase have banks in Australia? (I know they have locations outside the U.S.)

    I've heard a lot Chinese people get loans through EastWest Bank in China to buy homes in the U.S. EastWest has locations here in the states
     
  3. Sooty

    Sooty Contributing Member

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    Yeah, already tried that. I talked to a few banks in Australia and unless I'm investing in Australia they won't lend me any substantial money (to put towards a property).

    Hence, trying to figure out my best options! first home sooo hard haha
     
  4. Sooty

    Sooty Contributing Member

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    haha no one on here?

    C'mon - two Rockets tickets here too.
     
  5. juicystream

    juicystream Contributing Member

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    As long as you have proof of income, the underwriters usually don't care. They may ask for a letter from an employer or from a CPA.

    Have you tried talking to any major lenders and just asking them?
     
  6. bobrek

    bobrek Politics belong in the D & D

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  7. DieHard Rocket

    DieHard Rocket Contributing Member

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    I have no experience with mortgages but I believe what you are looking for is a manual underwriter, assuming that you do not have established credit in the US (if you do, then I would think you would be fine with that and income statements, even if those are foreign).

    Dave Ramsey recommends http://www.churchillmortgage.com/dave/ as a manual underwriter and they have Houston branches, I would assume that they'd be able to help in your case.
     
  8. Sooty

    Sooty Contributing Member

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    I've got a decent credit score 720ish. No crazy debts, just my Amex that gets paid at the end of each month

    Meeting with someone sammy from here recommended tomorrow.... haha we'll see how it goes, if you don't hear back from me tomorrow send out a search party :grin:
     
  9. Rockets Red Glare

    Rockets Red Glare Contributing Member

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    Hey Sooty- sent you an email through the board. My wife is a realtor and works with a lender that I think can help you out.
     

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