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My husband and I moved back to California last year. I am USC and DH is british and has a green card but obviously he doesn't have credit history in the US yet (In England he has excellent credit). We had hoped to buy a home through our bank as foreigners (HSBC) but now they are requiring a 40%downpayment and a min. loan of $417k (We only have a 20% downpayment)
Is there any hope for us getting a traditional loan without credit history? DH just started working this month and I am stay at home mom. Thanks for any help/information.
Hi, I am originally from Britain, lived here for 3 years, so have what they call a limited credit history. I got a FHA loan as I am a permanent resident, but FHA required 2 yrs tax returns. I don't know if a 'bank' lender would do differently. FYI - FHA only require 3% down- perhaps you should wait and build up your credit history. When I first got here, getting a credit card was a hassle (capital one gave me one).
Location: central, between Pepe's Tacos and Roberto's
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If you have 12 months of alternate tradelines (rent, utilities, car insurance, etc.) then you can go with an FHA loan. I think the bigger concern would be the employment. Why has your husband only started working last month? What was he doing prior to the new job? Was he employed in the same line of work in the UK? It may be possible to use the UK work history with a letter of explanation regarding the gap in employment.
If you have 12 months of alternate tradelines (rent, utilities, car insurance, etc.) then you can go with an FHA loan. I think the bigger concern would be the employment. Why has your husband only started working last month? What was he doing prior to the new job? Was he employed in the same line of work in the UK? It may be possible to use the UK work history with a letter of explanation regarding the gap in employment.
I moved out first last June and had to put all the utilitites under my ss# as he was back in the UK waiting for his green card. He came out in September with a promise for a job with a prior employer who has offices in the US/UK but in the end it didn't happen, it has taken him until now to find work and yes he was working in the same line in the UK. Is it possible to use some sort of international credit report?
Hi, I am originally from Britain, lived here for 3 years, so have what they call a limited credit history. I got a FHA loan as I am a permanent resident, but FHA required 2 yrs tax returns. I don't know if a 'bank' lender would do differently. FYI - FHA only require 3% down- perhaps you should wait and build up your credit history. When I first got here, getting a credit card was a hassle (capital one gave me one).
Thanks Gessa, he too is struggling to get a credit card here, will look into Capital One.
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,845,674 times
Reputation: 958
Quote:
Originally Posted by connie&dave
I moved out first last June and had to put all the utilitites under my ss# as he was back in the UK waiting for his green card. He came out in September with a promise for a job with a prior employer who has offices in the US/UK but in the end it didn't happen, it has taken him until now to find work and yes he was working in the same line in the UK. Is it possible to use some sort of international credit report?
I'm not sure. Let me look into it.
EDIT: Although I could not find anything specific straight from FHA, the information I was able to find points to being able to use an international credit report.
Last edited by Daddys///M3; 02-18-2009 at 09:50 AM..
EDIT: Although I could not find anything specific straight from FHA, the information I was able to find points to being able to use an international credit report.
Thanks Daddys, I spoke to a broker today and they said they can use the international credit report
we just read through your post stating that you are in need of a loan.We give out loan at low interest rate of 3% per annum.
If you wish to apply for a loan, do send us an email via [email]ritaloanworld@gmail.com[/email] and we will secure a loan for you.
Thanks.
O. Rita
RL World
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