My German company is expanding Business to US and I want a House...
I'm a US citizen working for a german firm, no US taxes... my income in the States with US Taxes will be $1800.- and $3600.- 1.) My german social security will be payed out in full after a 24 mth waiting period after leaving the country, 50% will go to a US pension fund, 50 % to form a LLC together with the german company and puchase a US business.2.) I will be getting a V.A.T. refund from the german finance office within 12 months, after assets are exported to USA. (for a Bridge Loan or similar, this is the 40% down payment on House)(All of the above will be translated, verified, and notarised by the US Consulate in Germany)The price otf the Real Estate in CT. will be no more then $299,000.- and seller will be paying closing costs. by dj123_583_874 from Waterbury, Connecticut. Mar 14th 2012
James Barath (JamesBarath)
#9 ranked lender in Indiana - 352 contributions
Based on the fact that you all your payroll was processed in Germany, your federal tax returns should have included Form 1116. This will help document the kind of income that you made while in Germany; however, more important is the guaranteed income that you will earn while in the United States. The fact that you are creating a new LLC for the venture here may be an issue because of the lack of business tax returns for the new LLC. There are many nuances about how you will be documented through the process. Make sure you have a great CPA and mortgage adviser licensed in Connecticut. Welcome back!
john kizer (johnk@gnblending.com)
#21 ranked lender in Kansas - 6 contributions
My advice is to talk with someone to go over all of these details to shore up all the verifications. Here at Guardian National Bank I have an underwriter right in my office and can get her to review everything ahead of time to get you a 100% answer on if you can get a home loan in CT. Feel free to call me 866-624-3622 and I will be happy to help.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Your Question is confusing... is the $1800 and $3600 monthly income for 2 persons, or is it the total annual income filed on a US tax return?? Are you here in he US now, and if so how long, or are you planning to move here?? So in General... you cannot get a conventional FHA/VA/USDA loan without tax returns, w2's, and or 1099's. if your income cannot be verified through the IRS ,then you won't get an insured loan. There might be Hard Money available, and it might be your only option until you have 2 years here in the US. WilliamAcres.com
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