Expatriate and Foreign National Home Loans and Mortgages requirements in the Woodlands Texas and the Houston Metro Area
With Exxon/Mobil Moving into Spring Texas and all of the supporting businesses in the Oil Industry whether it be for Anadarko, Chevron, ExxonMobil or the hundreds of support businesses that assist these industry giants. One thing is clear that the mortgage industry, for the most part, has not kept up with demands that this industry brings. One one of the biggest areas is American Expatriates or Expats living and working overseas most of the year that the majority of mortgage lenders nationwide simply say: “Oh you are living outside 181 days of the year then no mortgage for you.” Kind of like the Soup Nazi on Seinfeld.
Likewise, you could be coming to this country as a foreign national who has done everything by the book and yet you can’t buy a home. A recent survey nearly every new home tract builder in the Houston Metropolitan area could not close a loan with their in-house lender for a foreign national buyer. Using an in-house lender of a builder is a whole other issue which I will cover in a future post.
Requirements for a Foreign National or Expatriate Home Loans Nationwide
We can do your loan if you are a Foreign National or Expatriate Nationwide area under the following criteria.
As the Borrower, you must meet ALL of the following Qualifications
- US Credit tied to an ITIN or SSN (Social Security Number Strongly Preferred)
- Legal Permission to be permanently in the US such as a work visa or other permanent residence
- US income as documented by filing a US Tax Return for at least 1 tax year under either your ITIN or SSN
- Income from an employer is verifiable through pay stubs and a verification of employment.
- You must be here personally for closing OR initial disclosure signing in person. A limited power of attorney may be used at closing but you must have been here and personally signed the original loan documents in that case.
This applies also to US Citizens who are outside the country most of the time (expatriates). They can buy your primary residence even if you live overseas 11 months out of the year or more.
For a list of companies that we have helped Foreign National or Expatriate employees obtain loans check out our resource page for Foreign National and Expat Oil and Gas industry.
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