Here's a little back story. I'm 29 and I just moved from Canada to Los Angeles. I'm technically self-employed as I own and operate a Tech Recruitment business. I am a dual-citizen (US and Canada), but have lived in Canada my whole life. I have strong credit in Canada (well over 750 closer to 800), but no established credit really in the United states. I'm looking at places between the 600-700k range, and willing to put down 80k USD. Even though I have US tax returns that show a good income (although it's lower than what I actually make, because as a business owner my dividends are higher than the net income I pay myself for tax reasons), because I don't have established credit here, I'm having a tough time securing the loan.
If anyone has any advice or help me get going, that would be appreciated.
PS, as of now, I don't have any friends of family that are or can be co-signers.
Here's a little back story. I'm 29 and I just moved from Canada to Los Angeles. I'm technically self-employed as I own and operate a Tech Recruitment business. I am a dual-citizen (US and Canada), but have lived in Canada my whole life. I have strong credit in Canada (well over 750 closer to 800), but no established credit really in the United states. I'm looking at places between the 600-700k range, and willing to put down 80k USD. Even though I have US tax returns that show a good income (although it's lower than what I actually make, because as a business owner my dividends are higher than the net income I pay myself for tax reasons), because I don't have established credit here, I'm having a tough time securing the loan.
If anyone has any advice or help me get going, that would be appreciated.
PS, as of now, I don't have any friends of family that are or can be co-signers.
Here's a little back story. I'm 29 and I just moved from Canada to Los Angeles. I'm technically self-employed as I own and operate a Tech Recruitment business. I am a dual-citizen (US and Canada), but have lived in Canada my whole life. I have strong credit in Canada (well over 750 closer to 800), but no established credit really in the United states. I'm looking at places between the 600-700k range, and willing to put down 80k USD. Even though I have US tax returns that show a good income (although it's lower than what I actually make, because as a business owner my dividends are higher than the net income I pay myself for tax reasons), because I don't have established credit here, I'm having a tough time securing the loan.
If anyone has any advice or help me get going, that would be appreciated.
PS, as of now, I don't have any friends of family that are or can be co-signers.
Investor · Fort Myers, FL · Member since 2015 · 293 posts · 278 votes
6y
Hi Ali,
You and I are in a similar boat. I moved from Canada to USA in 1993. It does not take long to establish credit. get a credit card, get a car loan... easy credit to acquire. PAy those bills on time and after 6 months or a year you will have credit history. I work in recruiting too. I have no problem with mortgages now. Good luck.
Lender · Newport Beach, CA · Member since 2015 · 15 posts · 4 votes
6y
@Ali Taghikhani
Hello Ali,
There are programs for you available using Canada credit . I am a wholesale lender so I would need to get you in touch with one of my brokers. Feel free to reach out.
Accountant · Ottawa, Ontario · Member since 2013 · 55 posts · 12 votes
6y
@Eric Figueroa hi Eric can you reach out to me, I’m looking to buy in south Florida and would like a bit more Information on lenders that will use Canadian credit score
Hey everyone, just to close the loop, I’ve partnered with the right person who fits my needs, and he responded In this thread. I’ll post an update as the journey unfolds to help people in my similar situation.