Obtaining a mortgage as an expat residing abroad.

[Vincenzo Campaniello]

Hi there, I've been looking into purchasing my first residential property somewhere stateside. My intention is to purchase a property and rent it out as a I continue living abroad. Needing a mortgage to do so, I was wondering if there'd be any issues getting a mortgage in the US considering I've lived overseas since my early 20s and am now in my 30s. I have filed my US taxes yearly since then and declared my foreign and only income each time to the IRS. Not sure if this could help my case with lenders or not. Credit score wise, I'm assuming it's null, never having a credit card or an opportunity to build credit when I was in the US. I'm uncertain whether this could also be a decisive factor for lenders. Provided obtaining a mortgage is at all possible in my case, what would that actually look like? Are there only certain banks/lenders in the US that deal with US expats? What documentation might be required? I'm completely new to the world of real estate investing and am unfamiliar with lots still. I appreciate your help, thanks everyone. 

[Paul Crosby II]

Quote from @Kristen L Garner:

Hi Vincenzo, There are DSCR products that could lend well to your scenario. You would need to provide a passport photo and 2 months bank statements from any account you would be using to pay down payment, EMD, or closing costs with. DSCR products qualify you based on the property itself cash flowing. Depending on what a credit pull does or doesn't show for you, you may have to come in with an extra 5% down vs. the normal 20% down. Feel free to DM me if you'd like to chat about some of the product details and guidelines. Best of luck!

This is easily the most comprehensive answer you could get and would be the best way to purchase a property as an Expat.

I would also suggest talking to a real estate attorney and tax professional to make sure you are properly structuring your real estate business to minimize your tax burden. LLC  and management company setup will be crucial