Hello, it's been a while-Mortgage for an L-1
Jul 12th 2011, 4:47 am
#1
Forum Regular
Thread Starter
Joined: Jun 2010
Posts: 88
Hello, it's been a while-Mortgage for an L-1
Hi all,
I've not been on the site for a while. Landed in Florida 2nd September with my wife and 4 year old son and to say I've been busy is an understatement!
The first few months were a worry, just felt like I was on one of those stair climbers and couldn't reach the top. My business (a start-up) was always going to be dependent on getting the clients and that proved hard work. The general opinion seemed to be people are a little nervous about going with a new company. But I stuck at it, worked long and hard, and once I'd got a few clients onboard who turned out to be very satisfied with my work, my client list began to grow and is still growing. So all in all I'm doing ok and getting ready for the dreaded L1 renewal
We took the often given advice from those on here who recommended renting a house for a while rather than jumping in to buy. I'm glad we did and we love the area we chose, it has everything we need and also, more importantly, fits my work.
So now we've done the renting thing and know this is where we'd like to stay, we want to buy our own home.
How would we be fixed for getting a mortgage as we are non-immigrant and have been here less than a year?
Of course we have the all-important renewal to get through yet, but thinking ahead and being optimistic as we have delivered everything we stated in our original L1 application plans and projections. Our application for renewal is being prepared right now and we will likely wait to hear the outcome of that before we part company with any money for a house.
So does anyone have any views or advice about getting a mortgage in our position?
Thanks.
I've not been on the site for a while. Landed in Florida 2nd September with my wife and 4 year old son and to say I've been busy is an understatement!
The first few months were a worry, just felt like I was on one of those stair climbers and couldn't reach the top. My business (a start-up) was always going to be dependent on getting the clients and that proved hard work. The general opinion seemed to be people are a little nervous about going with a new company. But I stuck at it, worked long and hard, and once I'd got a few clients onboard who turned out to be very satisfied with my work, my client list began to grow and is still growing. So all in all I'm doing ok and getting ready for the dreaded L1 renewal
We took the often given advice from those on here who recommended renting a house for a while rather than jumping in to buy. I'm glad we did and we love the area we chose, it has everything we need and also, more importantly, fits my work.
So now we've done the renting thing and know this is where we'd like to stay, we want to buy our own home.
How would we be fixed for getting a mortgage as we are non-immigrant and have been here less than a year?
Of course we have the all-important renewal to get through yet, but thinking ahead and being optimistic as we have delivered everything we stated in our original L1 application plans and projections. Our application for renewal is being prepared right now and we will likely wait to hear the outcome of that before we part company with any money for a house.
So does anyone have any views or advice about getting a mortgage in our position?
Thanks.
Jul 12th 2011, 6:35 pm
#2
Joined: Apr 2002
Posts: 35,082
Re: Hello, it's been a while
Jack, there are two current threads on the front page of the USA forum about mortgages for L-1s. You'll probably find a lot of the information you want in them. 
Shout if you can't find them.
Shout if you can't find them.
Jul 12th 2011, 9:44 pm
#3
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Hello, it's been a while-Mortgage for an L-1
As you're a start up...I wouldn't bother till you've got the renewal tbh...and just work on building up your credit history and score...but yeah, if you want to buy, big deposit helps.
Nothing to stop you getting a mortgage, but the rate will be affected by how much you put down and how likely you're to get a renewal or not etc.
Nothing to stop you getting a mortgage, but the rate will be affected by how much you put down and how likely you're to get a renewal or not etc.
Jul 13th 2011, 12:47 am
#4
Retired
Joined: Apr 2004
Posts: 34,649
Re: Hello, it's been a while-Mortgage for an L-1
On an L-1 you could have to leave the USA at a moments notice. Why not get green card first?
