Forgotten Your Password?

Need to Register?

Question Icon

US Citizen with foreign income looking for a mortgage in FL

Hi I'm a US citizen working abroad since 2010. My wife earns 25% of our total income in the US but the other 75% is earned abroad. I have filed US taxes for 2 years reporting both US and foreign income. We have good credit scores and have 30% down payment ready for a house in FL, does anyone have any suggestions on how we can process a loan? by apadilla from Weston, Florida. May 9th 2012 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Foreign income will only be considered if you paid US taxes via a US tax return. There are a few exceptions such as someone living in Puerto Rico, and filing taxes with their government, however, a lender would have to accept these types of returns.. And very few will... The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

May 9th 2012
1
0
Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

Dear Foreign National. -- The answer to this question is YES without a doubt. I can do this loan for you. However it is much to complicated to explain to you over a computer written in a forum as such. If you are serious, have the money and are ready to make a move --- You may call me on my personal cell phone at 813 601 0221. My website address is www.andrewalfonso.comMy license with the state of Florida is 331687. Call me to discuss. Thank you. Andrew Alfonso

May 9th 2012
0
0
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

WHERE is your income from??? foreign income.. i also can do private money financing....

May 9th 2012
0
0

I work for a company in Ecuador, they pay my salary there in US dollars.

May 9th 2012
0
0
Mark Simon (mark.simon)
#10 ranked lender in Delaware - 83 contributions

Yes not onlly can we help but we can provide the prequalification letter that many realtors want to see within 24 hours .Give me a call today and we can position you to seriously look at properties this weekend. Mark WCS Lending 800-485-1387 Extension 107.

May 10th 2012
0
0
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

i have located a great source for you.. please contact myself at 602-330-1598 or email me at yourloanpartnerforlife@live.com you can go on my webstie , at yourloanpartnerforlife.com you might have to copy and paste in your browser, depends on your browser i do not past pics of me on the site , but it is on my website.. thanks

May 10th 2012
0
0
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

If, as you say you are a US citizen and have reported the income on a US tax return, then this should not be an issue. What could be an issue is the nature of the income. If you are working in a temporary or semi temporary type position, it could be discounted or disallowed because it may appear that the income may not continue on. An example of this would be you are starting year three of a four year contract of employment. Generally, income must continue for at least 3 years to be eligible for consideration. My advice is to contact a local (to where you are looking at buying) Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, and not just those of one bank, and can properly guide you. This could be important depending on your income/employment situation. Good luck to you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

May 10th 2012
0
0
Subscribe to our news feed.