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Hi. I am a foreginer looking to buy a house in San Diego. Can i obtain mortgage with 40% down?

I have no job. Money is mainly from my parents back homes, but they want to buy me a house. I am in San Diego.
  • May 06 2013 - San Diego
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Answers (2)

Foreigner or American, banks wants to make sure the loan is paid, if you don't have a job, do you have any other income? Based on the loan amount there are loans even with 30% down programs for foreigners. But you also have some income coming. If your parents buy the house and pays the mortgage, if they also have enough income to support the loan amount, it's possible. You better talk to either a bank which gives mortgage to foreigners or a mortgage broker. Good luck.  
  • May 06 2013
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You'll need a work history and salary to get a loan. A lender needs to know that you'll be able to make the payments.
  • May 06 2013
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