Conventional Loan for an Out Of Country American?

[Nate Erez]

Hi All,

My wife and I are going to buy our first property in the US (Jacksonville, FL). We would like to buy it in cash and then finance it with a conventional loan (BRRR)

My wife is American and I'm Israeli. Both of us live abroad. Does anyone have experience in getting a mortgage from out of the country?

Thanks for your help!

Nate

[Chris Mason]

Originally posted by @Nate Erez:

Hi All,

My wife and I are going to buy our first property in the US (Jacksonville, FL). We would like to buy it in cash and then finance it with a conventional loan (BRRR)

My wife is American and I'm Israeli. Both of us live abroad. Does anyone have experience in getting a mortgage from out of the country?

Thanks for your help!

Nate

 Hi Nathan,

Two big things to be aware of:

- Foreign income is generally treated as self employment income. Hopefully you've been paying US Taxes on your foreign income.

- You will want to have a US address that is not a PO Box, your United States primary residence home base. This isn't a guideline, it's just the reality due to the ubiquitous "Microsoft Word Equivalent" loan origination software that everyone uses.

For bullet point #2, I haven't come up against this type of scenario as a live transaction in over a year, there might have been some software patches that I'm unaware of.