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Fwtting Mortgage with Foreign Parent (Canadian)

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cottoncrown
Frequent Contributor

Fwtting Mortgage with Foreign Parent (Canadian)

My father and I would like to buy a home together in the city where I live. Portland, OR. I have about a 780 score and 50k income. He lives in Canada and has a 100k plus retirement income and great credit there. The home would be used as my primary residence and my family would stay there when they visit throughout the year. How would we get a mortgage together if he lives and has his income in Canada. My mother is a USC but he is not. She lives with him in Canada.
Message 1 of 3
2 REPLIES 2
DallasLoanGuy
Super Contributor

Re: Fwtting Mortgage with Foreign Parent (Canadian)

i dont have guidelines in front of me.... but i think maybe father can be NOCB(non-occupant co-borrower) with enough down payment on conv.

minimum down payment only for fha

 

is the retirement income verifiable?

is it U.S. company retirement?

 

 

 

Retired Lender
Message 2 of 3
cottoncrown
Frequent Contributor

Re: Fwtting Mortgage with Foreign Parent (Canadian)

He has a retirement from the Canadian Government as he was an elected official there for quite some time and also an income from a job he works currently for some other local government a few days a month. It all would be easily verifiable.
Message 3 of 3
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