AZ Lender needed for borrower with foreign address

2 Replies

I'm a US Citizen that's been living in Mexico for 3 years. All of my income is from the US, and I easily qualify for a conventional mortgage. The problem is that I don't have a US address for which I can verify residence. Current lender tells me that per Fannie Mae rules I am ineligible for a conventional mortgage. Can this possibly be true?

@Anna Mecagni

That is correct.  Fannie clarified this rule just a few months ago.  No US Address, no Fannie/Freddie loans.

You will be considered a foreign national by most lenders.  This doesn't change the structure of the loans by much but they will want more money down and likely more letters of explanation about your situation.  Oh and naturally, higher interest rates.