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Updated over 6 years ago,
how to get a loan from a bank which doesn't claim my main income?
Hey again BiggerPockets members,
As I mentioned before I'm a starting investor from Israel, and I'm willing to invest in the United States,
I was told here the first thing I should do is to open a bank account in the states, so I did.
The story is I'm an engineer in Israel and my salary goes into a bank account in Israel. I opened a bank account at Bank Of America and they know what my salary is based on what I told them, but never showed any proof of that and it's approximately 80,000$ a year . I was told I will have to develop a credit score so I will be able to get a loan with a good interest rate. So he basically said I can transfer what ever amount I want to this bank account and to spend monthly about 20% of this income so I will develop a good credit score and he said it could be any amount, even low as 250$ per month. the thing is the fee for every time I transfer money from Israel to America is very high so I should not just go and transfer money and than regret, it should be planned carefully, so i'm looking for the best way to do that.
my question is will they recognize my salary in Israel ? or they have to get my main salary so I will be able to qualify for the loan amount I want without them seeing the salary in their bank ? the amount of mortgage I want will be somewhere around 100,000$. And I forgot to mention I got a credit card of course ..