what can i do? I need a mortgage!!!

[Anonymous]

I am a foreign national and my wife is a US citizen. We intend to do paperwork for me to become a resident soon. I have an ITIN that ive used to build up my credit score to around  700(fico) however my wife's score is very low at around 560.

We intend to buy a house, we have downpayment of $8000 and we are looking for a mortgage of around $100000-$120000, we have joint retuns but my salary isnt included in them and she makes around $30000

Do you think anyone would lend to us?

[StartingOver10]

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@Anonymous wrote:

I am a foreign national and my wife is a US citizen. We intend to do paperwork for me to become a resident soon. I have an ITIN that ive used to build up my credit score to around  700(fico) however my wife's score is very low at around 560.

We intend to buy a house, we have downpayment of $8000 and we are looking for a mortgage of around $100000-$120000, we have joint retuns but my salary isnt included in them and she makes around $30000

Do you think anyone would lend to us?

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Your wife can visit the rebuilding forum to see what she can do with her specific credit report to improve her score - that would help greatly.

I don't know what you mean when you say you file joint tax returns but your income is not included in the joint return. Did you just now get to the US?

[Anonymous]

My income is foreign earned, its not included in our returns, they dont know how to calculate it.

[StartingOver10]

Makes sense. Whenever I have worked with foreign nationals the income has to be translated to dollars and the lending bank won't do that. There are lenders that really do specialize in foreign national type loans.

Yours is a little different because you have one spouse is a US citizen and the other spouse is a foreign national. Are you using the foreign income to qualify for a purchase here? Or is your wife able to qualify with just her income, ignoring her score for a moment.

[Anonymous]

Is 30000 before or after taxes?? Also if anything probably try for FHA some will lend to credit score as low as 520 

[Anonymous]

Darren came ina aked-

"Do you think anyone would lend to us?"

Man y'all gotta lot going on.  I'm thinking put this on hold.  Get the paperwork on your end straightened out.  Go to the rebuild forum and get your wife's numbers up.  Come back in about 12 months and give it a go.  It ain't good to be desperate in the mortgage process.