Conventional lending with foreign earned income

[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.

[Simmy Ahluwalia]

@Mat Fisher - your income doesn't matter. DSCR is the way to go. There may be cheaper options than 8%.

[Colin McMahon]

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. 

[Erik Estrada]

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.

[Colby Dorris]

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. 

[Zach Wain]

Boom! what Colby said  ^^^^^^^^^^^^^^^^^^^^^^^  You can still get a conventional loan