being a self employed expat and getting a mortgage

5 Replies

Hello all,

I'm running into a problem obtaining a mortgage. Because I live overseas and am self employed, no lenders seem to want to lend to me, as they don't see income on my 1040. I report my income in my taxes, but pay no income tax on it because of government regulations.

So I've been looking at stared income mortgages, which don't require you to submit tax returns, and take less documentation in general. My credit score is pretty high. I would appreciate recommendations of places that offer them or hearing of people experience with it. 

Many thanks,

@Chris Gaukler  what types of lenders are you talking to?  Direct lenders like the big banks or portfolio lenders?  Mortgage brokers?   I would think that based my experience you should be able to find a lender who can do it because you're not the first.  People from foreign countries purchase homes here and mortgage them.  You should be able to do the same.  

Thanks Darren. I turned first to my credit Union. Then two traditional lenders. All said it wouldn't work. Maybe I'm missing something obvious here. 

Is this for your primary residence or a investment property?

It's for an investment

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