Conventional lending with foreign earned income
I was told it was “impossible” to get a conventional mortgage on an investment property with foreign income. Is that true? I am a US citizen working overseas and wanted to buy an investment property in the US.
Anyone have an experience out there with this?
I'm getting DSCR loan quotes for around 8%. Wanted to see if I could bring that down.
@Mat Fisher - your income doesn't matter. DSCR is the way to go. There may be cheaper options than 8%.
Hey Mat,
Definitely not impossible! At Milo, we work specifically with international clientele and often use their foreign income to qualify. Would be happy to help and jump on a call to better understand your goals. Feel free to reach out via PM.
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Lender Texas (#NMLS 1615602), New York (#NMLS 1615602), California (#NMLS 1615602), Georgia (#NMLS 1615602), and Florida (#NMLS 1615602)
- Milo
- 305-433-7553
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Quote from @Mat Fisher:
I was told it was “impossible” to get a conventional mortgage on an investment property with foreign income. Is that true? I am a US citizen working overseas and wanted to buy an investment property in the US.
Anyone have an experience out there with this?
I'm getting DSCR loan quotes for around 8%. Wanted to see if I could bring that down.
Hey Mat,
If you are a U.S. Citizen, and have U.S. Credit you can still do a standard DSCR loan. Rates will be in the low 7s.
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Lender California (#02161719)
- 818-269-7983
- https://www.luxeprivateinvestmentsllc.com/
- [email protected]
Hey Mat! As long as you report this foreign income on your US Tax Return, then you can use that income to qualify for a conventional mortgage.
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Lender Nationally (#1905924)
- 615-339-5024
- https://www.getevolved.com/dorris/
- [email protected]
Boom! what Colby said ^^^^^^^^^^^^^^^^^^^^^^^ You can still get a conventional loan
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Lender CA (#60DBO94130), TX (#1825506), CO (#100507291), AZ (#MB-0951257), and FL (#MBR5265)
- 480-336-3737
- http://www.waincapital.com
- [email protected]