Profile picture for ericryee

Anyone know of a lender that can provide my wife (non-US citizen) and I (US citizen) a loan?

We both work at American companies and plan to move back to the US, but want to buy a house first.  Does anyone have a lender that we can use who will recognize both of our incomes?  Thanks
  • December 11 2009 - Palo Alto
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Answers (9)

Profile picture for ericryee

Robert,

Thanks for your comments and good point.  My wife is from Australia.  We hope to secure a loan and still remain in Hong Kong for the time being.

Rgds,

Eric

  • January 24 2010
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What country is your wife from? There are many banks that will lend if they have roots in both countries. There are even banks here in the U.S. that will lend money to purchase property in Mexico, so if for example, if your wife were from China, I would inquire from a bank like Cathay Bank to see if it is possible.

You may even start the process in the country you are in now and see if it is possible to obtain a loan.

The bank will more than likely contact your employer to insure that you will still be empolyed when you are transfered. 

Good luck, let me know if you need any assistance.

Robert L Walker, CIPS, ABR, RSPS, AHWD
  • January 24 2010
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Obtain a Social Security Number from the Federal Government and you will be eligible for an FHA loan.

Citizenship, permanent residency, non-permanent residency
  • December 12 2009
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As long as you are in the same line of work with a new employer you should be OK. Certainly, if you are transferred by your current employer it would be easier. All depend on your Credit Score, Loan to Value, U.S. Federal Tax Returns, Debt to Income and other guideline requirements. ... Best wishes.
  • December 11 2009
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Profile picture for ericryee
Thanks for everyone's help.  I'd like to purchase now and come back to the US when we're ready.  We haven't applied for my wife's visa and/or green card for the US yet.  According to everyone's statements, I guess we can't use her income to qualify for a loan?  It's unfortunate, as we are married and both still work at very big US companies for the last 2.5 years.  I'm assuming the only alternative is to come up with a larger down payment and only use my income to qualify for a loan.

In the future, I plan to transfer with my current employer to the US or have a job already lined up before moving back.
  • December 11 2009
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Profile picture for Justin Kennedy

Ericyee,
please clarify, what type of residency status does your wife currently hold. In addition, if she holds a non permanent residence status, what visa type? How long with employer? And how long holding visa? Plus the magic question, when we examine the credit history of your spouse, we need to make certain she meets the trade line, credit depth requirements. When you move back to the US, will you remian with the same company, same postion etc.

  • December 11 2009
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Profile picture for SunTrust
You wife will also need a green card....

... or an H1B or any other acceptable visa where  she is legally able to work in the US.
  • December 11 2009
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Yes. You can use any Fannie/Fannie/FHA (any bank, mortgage broker, credit union, etc).

However, you will need a contract from your current employer that clearly states what your income will be, and that your income is guaranteed for the next 3 years. The contract doesnt need to be anything fancy, a simple letter written on company letterhead will suffice.

You wife will also need a green card.
  • December 11 2009
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What will both of your employment plans be when you come back to the U.S.?
  • December 11 2009
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