All Forum Posts by: Marcus S.

Thanks to everyone for your great feedback! 

@Kristin Compton and @Karyn T., when I read your stories  it does remind me that I'm only in for an investment property, not my primary residence. So thanks for reminding me. If it doesn't go through, no big deal, right? 

But here is the thing: before those challenges arose, I only WANTED to buy the house. Now that someone tells me I can't have it, I NEED that house!

LOL 

Thanks again! 

Okay, I admit it:

While I do have a pretty good income, I also have higher expenses than most people. 
But with 20k a month, is a mortgage payment on my primary residence of $3,500 really that big of a deal? (Especially given the fact, that I recoup $2,000 in rental income, which - you guessed it - cannot be accounted for because I can´t show a 2-year history yet. But this is another topic...).

I believe here is my main challenge: part on my income is derived from a company I own abroad. Now, get this though: all of my income is shown on my US tax return. It´s not that I waive with a letter in a language no one understands, stating that my company is doing great. Nope - it´s all on my US tax return.

Like a mortgage broker told me: he tried "every angle" to fit my situation into "the system", meaning Fanny Mae and Freddy Mac don´t like my situation.

Sure, at the moment I´m working with a bank that also offers inhouse loans (aka portfolio loans), but it still irks me that "the system" seems to be so highly automated that no human with a brain between their ears could look at an application and decide that someone might be good for a loan, although he or she doesn´t "fit into the system".

I don´t have a real question for you guys, I guess I just wanted to let some steam off...

Happy investing!