Buying a house in the U.S. with foreign income and assets

Using Foreign Income and Assets to Qualify for a U.S. Mortgage

You can use foreign income and assets to qualify for a mortgage in the U.S.  Non-U.S. citizens will receive the same rates, fees, and terms as citizens. But qualifying will require more documentation if you earn your income in foreign currency. Following are the rules about foreign income and assets. Request a pre-approval based on […]

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Sample Letter of Explanation for Gap in Employment for a mortgage loan.

Sample Letter Explaining a Gap in Employment for a Mortgage Loan – Word, PDF, Google Doc Templates

If you have been off work for longer than a month in the past two years, a mortgage lender may ask for a letter explaining the gap in employment.  This is not something to be worried about. It’s simply the lender complying with lending rules so it can close your loan. Here is a sample

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Should You Get a Cash Out Refinance on a Paid-Off Home?

As mortgage rates hopefully drop in 2024, owners of free-and-clear homes may consider putting their home equity to work with a cash-out refinance. Mortgage rules allow homeowners to receive cash-out funds up to loan-to-value limits whether there’s an existing mortgage on the home or not. Nearly 40% of properties in the U.S. have no mortgage

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Interest Dividend Capital Gains Trust Notes Receivalbe Rental income guidelines mortgage

Interest, Dividend, Capital Gains, Trust, and Other Income Types For a Mortgage

If you have significant investments or passive income, you may be able to use it to qualify for a mortgage. You can even use multiple income types along with employment income. Following is how lenders review various non-employment income types and the typical documentation needed. See if your income type qualifies you for a mortgage.

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Alternative Income Types for Mortgage

Income for Mortgage: Disability, Social Security, Alimony, Roommate, RSUs, and more

There are almost too many income types to name, but you might be surprised that you can use many of them to qualify for a mortgage. Following are less-common but important types of income and how to leverage them to qualify for an FHA, conventional, VA, and USDA mortgage. See if your income type qualifies

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