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Mortgage Wanted

Posted on: 25th Mar, 2012 06:49 am
Is it possible as a non resident in the present financial climate to get a US mortgage with less than perfect UK credit score and no fixed income? Are there any self cert deals still these days ?

Can income from a properties count?

How long will a US credit score to build up?

It seems a whole lot more difficult than in the past.

I have a modest house purchased for cash recently in Hernando County 75k and a house in Uk with a small amount of mortgage left on it. The plan was to buy another US house on a mortgage for renting out long term to help with the up keep and fixed costs taxes ect.
Stocks and Bonds seem to be latest way to secure a loan. How do they work? I could pay one third down cash on any deal still. I have seen lots of discussion about taking over payments on a bank owned property and the advantages and disadvantages complications with title! Will any professional please leave a link or phone number if they know anyone that might help.

:(
Posted on: 25th Mar, 2012 08:29 pm
Thanks James.

If I can prove income from a property to be purchased in the form of rent and with tenancy agreement, will that count for anything if only half the income were required to pay the mortgage??

Will the property have any security value to a lender with say a third of it paid for cash at time of buying?
Thanks anyone nigelmark
Posted on: 26th Mar, 2012 03:46 pm
Hi nigelmark!

Welcome to forums!

It will depend upon the lender whether or not he will allow you to include the income from a property to be purchased when you apply for a new loan. You will have to speak to your lender in this regard.

Feel free to ask if you've further queries.

Sussane
Posted on: 26th Mar, 2012 08:44 pm
Income from properties are a great count, if they are fixed. However, I can recommend an expert mortgage professional in Campbell - Turnkey Mortgage Solutions, who can also help you on the self-cert deals.
Posted on: 27th Mar, 2012 01:04 am
Hi to Sussane and Barbara,

thanks for your replies both make me feel it is worthwhile continuing to
look into a further mortgage. I will make contact with the broker suggested. Nigelmark
Posted on: 27th Mar, 2012 04:35 pm
You're welcome, Nigel... It's good to note that the forum was able to help you with some suggestions!! :)
Posted on: 27th Mar, 2012 08:58 pm
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