Sydney, New South Wales · Member since 2018 · 14 posts · 2 votes
I am a U.S. citizen who has been living abroad for the past nine years. I work for an Australian company, so I've filed taxes in the U.S. for years as required by law, but haven't had any W2 forms. I don't own any property anywhere, but I want to purchase a home in the U.S. for investment purposes. Has anyone in a similar situation been successful at obtaining a mortgage in the U.S.?
Rental Property Investor · Houston, TX · Member since 2015 · 117 posts · 55 votes
8y
A local bank loan in the city you are looking for may work in this situation. The bank may hold the loan rather than selling it so they may rely on your credit, US tax returns and LTV. Usually they may not give more than 70% of ARV but still it's something better than nothing.
Rental Property Investor · Houston, TX · Member since 2015 · 117 posts · 55 votes
8y
A local bank loan in the city you are looking for may work in this situation. The bank may hold the loan rather than selling it so they may rely on your credit, US tax returns and LTV. Usually they may not give more than 70% of ARV but still it's something better than nothing.
I am also an expat US citizen who is just getting started and learning more. I also have talked to a few finance options which most talk about 70% loans. Also file my tax returns with my foreign income, but no W2. Were you ever able to find an option to get better than 70% financing?
I am a U.S. citizen who has been living abroad for the past nine years. I work for an Australian company, so I've filed taxes in the U.S. for years as required by law, but haven't had any W2 forms. I don't own any property anywhere, but I want to purchase a home in the U.S. for investment purposes. Has anyone in a similar situation been successful at obtaining a mortgage in the U.S.?
I'm in the same spot. I've lived and worked in Shanghai since 2014. Currently trying to purchase my first home. Lenders are all telling me that I need a DSCR loan. DSCRs have slightly higher rates and extra fees attached, so make sure you do your math when you calculate cashflow.