Profile picture for yj1126

I am international student which means I am F1 visa student. I want to buy a house. Is it possible?

is it possible to loan for the house?
Well, My parents will sponse for me, and support me a little bit.
is it possible?
  • February 13 2010 - Wayne
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Answers (7)

Best Answer

Profile picture for Peter J Rogers
If you can find a US resident to co sign for you and you can show a 3 yr record of rent payments then you might be well on the way to getting your dream. I would suggest that you get in touch with a reputable mortgage agent.
If you need my company has very good in house mortgage experts who would be happy to help you. Just let me know and I will put one of them in touch with you
  • February 14 2010
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Profile picture for blue screen exile
There are some U.S. tax issues; but the IRS phone lines are clogged right now.  (800)tax-1040

You can look up the tax ramifications on irs.gov
  • March 06
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Profile picture for garfieldmiller2
My question is what if student with F1 visa has cash to purchase a house. Are there legal issues that they will have to address before the process??
  • March 06
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Profile picture for yj1126
Thank you thank you. Your all infomation is really helpful.
Then, if I am going to buy a house on my name and my parents will co-sign or do something ( ex. Prove they have money)and one other person who lives here also do co-sign for me then. Is it possible?
He has a really excellent credit score. Then If one person do co-sign for me then, I don't need to down pay a lot?
And Now I live in town house for three years, I pay the rent about $3500
a month. So..Maybe I can show them, I didn't have any problems? So.. I can prove that I can pay the morgage well. Is it not going to help at all?

It is really hard to buy a house. Thank you a lot!!!
  • February 14 2010
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Profile picture for Peter J Rogers
Hate to be a 'wet blanket' but  there is little chance that you could succeed in your plan. you would not have a sufficient credit score to support a mortgage yourself and if your parents do not live in this country then you  would not be able to get a mortgage in their name nor would you be able to have them co sign with you
Sorry to say
  • February 14 2010
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Profile picture for yj1126
Thank you so much for anwering the question.
I am planing to buy the house with my parents name( They are in my homeland), and down pay 30% or 40% or more than that. Before I heard something like the international people need to downpay more than 40%. is that true?
Well, I have social number and some credit score. I've never checked my credit score, so I dont know it is good or not.
I am working of course but the problem is I can't really say i am working.

I really want to buy a house. a yaya~~!!
  • February 14 2010
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Profile picture for Peter J Rogers
There is no legal reason why you should not buy a house but the problem is how you are going to pay for it. Unless you or your family has a credit record in this country you are not going to get a mortgage. If you or your family can raise the money in your homeland that would be the way to go.
  • February 14 2010
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