Mortgage for foreign nationals - Help!
Jan 26th 2010, 10:42 pm
#31
Joined: Jan 2008
Posts: 7,605
Re: Mortgage for foreign nationals - Help!
They are really strict now and it's a total nightmare, especially for folks who come into the US as permanent residents near the end of a year. If there are any delays in obtaining a SSN, you can't even file a tax return extension on April 15 so open yourself up for failure to file penalties!
Jan 26th 2010, 11:00 pm
#32
BE Forum Addict
Joined: Aug 2007
Location: Maine
Posts: 2,043
Re: Mortgage for foreign nationals - Help!
We got a BoA mortgage four months off the boat. We used a lot of UK documents to show good credit, rather than a credit rating here. We weren't on L1 though.
We refinanced late last year with BoA and got a much better rate, even though our credit rating still isn't massively high.
We found a local BoA mortgage specialist really helpful. My other experiences of BoA were dismal, but this guy made everything happen.
Of course the mortgage was immediately sold to Fannie Mae...
We refinanced late last year with BoA and got a much better rate, even though our credit rating still isn't massively high.
We found a local BoA mortgage specialist really helpful. My other experiences of BoA were dismal, but this guy made everything happen.
Of course the mortgage was immediately sold to Fannie Mae...
Jan 27th 2010, 4:17 am
#33
L2, GC, Surrey, OH, TX!
Joined: Aug 2007
Location: Surrey to Dallas (via Ohio)!
Posts: 6,363
Re: Mortgage for foreign nationals - Help!
took us three tries and about 8 months to get a stupid ITIN for the kids. made the tax return late and loads of hassle etc.
we got pre-approved for a mortgage in about april 2008 and then went ahead and got a house built. all got sodded up and we had to get a new mortgage approval just before completion in Nov 2008 and that was a total nightmare - they asked for random things every other day or so for a few weeks so we were running round trying to provide the stuff or give them letters explaining that what they were after didnt exist (ie an L1 doesnt have an EAD so cant show it!). I was never so stressed as that month of mortgage hassle - rental was expiring, i was 8 monmths preggers, and couldnt tell anyone what was happening as the bank just kept delaying and demanding other random stuff. Did get sorted in the end about 10 days after the planned completion! So if your going for it now - expect a lot of running around. (and this was after we had been in the country for a year and had a credit score etc!
we got pre-approved for a mortgage in about april 2008 and then went ahead and got a house built. all got sodded up and we had to get a new mortgage approval just before completion in Nov 2008 and that was a total nightmare - they asked for random things every other day or so for a few weeks so we were running round trying to provide the stuff or give them letters explaining that what they were after didnt exist (ie an L1 doesnt have an EAD so cant show it!). I was never so stressed as that month of mortgage hassle - rental was expiring, i was 8 monmths preggers, and couldnt tell anyone what was happening as the bank just kept delaying and demanding other random stuff. Did get sorted in the end about 10 days after the planned completion! So if your going for it now - expect a lot of running around. (and this was after we had been in the country for a year and had a credit score etc!
Jan 30th 2010, 6:48 pm
#34
Just Joined
Joined: Oct 2009
Posts: 17
Re: Mortgage for foreign nationals - Help! and now opening a bank account too
hi Des in FL,
I'm in a similar situation, living in SC but moving down to FL in a month. Looking to buy as FL real estate in the cheapest & rockon 250 should get you a palace. I want a loan also but only maybe 25% with the rest down.
Try SunTrust, super helpful and in FL. One of the first pleasant surprises over here after decades of faceless banking in the UK, Aus. Interested to know what bank you're having some success with ?
Getting a mortgage as a foreign national is v. v. hard. Getting credit for a car for a yank with a well paying job is hard so us FN's \ aliens \ ghosts are wel down the pecking order.
cheers & good luck
I'm in a similar situation, living in SC but moving down to FL in a month. Looking to buy as FL real estate in the cheapest & rockon 250 should get you a palace. I want a loan also but only maybe 25% with the rest down.
Try SunTrust, super helpful and in FL. One of the first pleasant surprises over here after decades of faceless banking in the UK, Aus. Interested to know what bank you're having some success with ?
Getting a mortgage as a foreign national is v. v. hard. Getting credit for a car for a yank with a well paying job is hard so us FN's \ aliens \ ghosts are wel down the pecking order.
cheers & good luck
Jan 30th 2010, 6:48 pm
#35
Just Joined
Joined: Oct 2009
Posts: 17
Re: Mortgage for foreign nationals - Help! and now opening a bank account too
forgot to mention, I don't have a SSN but could open a\c no probs
Jan 30th 2010, 9:37 pm
#36
Joined: Apr 2002
Posts: 35,082
Re: Mortgage for foreign nationals - Help! and now opening a bank account too
hi Des in FL,
I'm in a similar situation, living in SC but moving down to FL in a month. Looking to buy as FL real estate in the cheapest & rockon 250 should get you a palace. I want a loan also but only maybe 25% with the rest down.
Try SunTrust, super helpful and in FL. One of the first pleasant surprises over here after decades of faceless banking in the UK, Aus. Interested to know what bank you're having some success with ?
Getting a mortgage as a foreign national is v. v. hard. Getting credit for a car for a yank with a well paying job is hard so us FN's \ aliens \ ghosts are wel down the pecking order.
cheers & good luck
I'm in a similar situation, living in SC but moving down to FL in a month. Looking to buy as FL real estate in the cheapest & rockon 250 should get you a palace. I want a loan also but only maybe 25% with the rest down.
Try SunTrust, super helpful and in FL. One of the first pleasant surprises over here after decades of faceless banking in the UK, Aus. Interested to know what bank you're having some success with ?
Getting a mortgage as a foreign national is v. v. hard. Getting credit for a car for a yank with a well paying job is hard so us FN's \ aliens \ ghosts are wel down the pecking order.
cheers & good luck
