how to get a loan from a bank which doesn't claim my main income?

Question

Hey again BiggerPockets members,

As I mentioned before I'm a starting investor from Israel, and I'm willing to invest in the United States,
I was told here the first thing I should do is to open a bank account in the states, so I did.
The story is I'm an engineer in Israel and my salary goes into a bank account in Israel. I opened a bank account at Bank Of America and they know what my salary is based on what I told them, but never showed any proof of that and it's approximately 80,000$ a year . I was told I will have to develop a credit score so I will be able to get a loan with a good interest rate. So he basically said I can transfer what ever amount I want to this bank account and to spend monthly about 20% of this income so I will develop a good credit score and he said it could be any amount, even low as 250$ per month. the thing is the fee for every time I transfer money from Israel to America is very high so I should not just go and transfer money and than regret, it should be planned carefully, so i'm looking for the best way to do that.
my question is will they recognize my salary in Israel ? or they have to get my main salary so I will be able to qualify for the loan amount I want without them seeing the salary in their bank ? the amount of mortgage I want will be somewhere around 100,000$. And I forgot to mention I got a credit card of course ..

Saul L. · Answer

@Shahaf Benita - Why dont you just give your bank a call and ask them. ?

Ive never gotten a conventional loan from a US bank directly. Too many hoops to jump through.

Shahaf Benita · Answer

@Saul L. Hi Saul,thanks for responding, actually I got a credit card approval, since I work at an international company which it's headquarters is based in New York it turned out to be fine. and he was very clear about SSN, that's it's not mandatory but it helps.thank you for the transferring suggestion.and by the conversation with the banker I got the idea it will be fine, and that it just depends on the credit score i'll build. I just can't understand now if they will count on my salary at other bank.

Did you try or already got a conventional loan from a US bank before ?

Saul L. · Answer

@Shahaf Benita- Welcome to BP and US RE investing.

Did the bank indicate they would be prepared to authorize you a loan at all ? As far as I know mainstream US banks will not lend to non US citizens full stop- I would clarify this point before transferring money in an attempt to get a credit score. You may have to go the HML route for your first deals or raise the money from Israeli banks against Israeli properties if you have them.

For international transfers I use transferwise.com - most cost effective option I've found.

BTW- I believe the card you have been issued is a debit card. With no credit score and no SSN unlikely you were given a credit line and credit card.

how to get a loan from a bank which doesn't claim my main income?

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