Immigrant with low credit & short job history
Hi,
I need opinions on buying our first house. My wife and I are currently renting, both have full time jobs with a pretty good joint salary. The thing is I am from Australia and have only been legally in the country for 18 months. I had great credit back in Australia but here it's pretty average as it's only a few months old.
My job is currently a salary but in another six months it will go to commission. We spoke with a mortgage broker at my real estate brokerage ( I have my real estate license in referral) and the underwriter told us that I wouldn't qualify even for an FHA.
My ultimate goal is to eventually acquire some buy and hold investment properties ( mostly multi families) so getting into this first house is only to save on rent and hopefully flip it over a 3 year period before we will be moving. I have thought about seller financing but am unsure of where to start.
Has anyone had a similar start that can shed light on our situation or offer some guidance?