Natalie_S

DH and I have been in Dallas, TX for around 16 months and are keen to purchase a house when I current two year tenancy ends in May 2015.

We are here on an E2 visa as expected, we didn't draw too much income from our business in the first year so our tax return doesn't show much. Simulataneously, our credit is still building and relatively low, in the mid 600's, though rising monthly.

We are looking at houses in the $600,000 and are comfortable with a 20% deposit. I have spoken with a a couple of mortgage brokers, both of whom expressed the difficulties we might face, and one of whom suggested we might qualify for a Foreign National loan @ 5% on a 7/1 arm. Of course, with this, IF we got it, refinancing after a year or two would be both advised and necessary.

At this stage, I am keen to understand if there are any other / better options that we might consider.

Thank you for your help!

JAJ

Out of interest, is there a plan to get a green card? If not, then presumably you understand the risks of owning real estate in a country where you do not have any long term right to live.

Pulaski

What sort of corporate structure is your business held in? My business, in an LLC held jointly with my wife, is a "pass through" entity, as are all LLCs and most small family-owned "incs" (known as "S corporations"), so our business's annual profit or loss is automatically fed into our personal tax return. ...... In any case the mortgage underwriter will ask for your business tax returns as part of the application process.