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I am working in a company on OPT (F1 visa). My H-1 visa had been approved and will take effect on October 1. My wife is a postdoc on J1 visa. We have been living here for more than 7 years and we are Resident Aliens in tax status.
We just signed a contract buying a house. The closing date is early September. The loan amount would be less than 2.4 times of our annual household income.
While shopping around for loans, all brokers say my wife can not join the loan application because J1 visa is a temporary visa. If I apply for the loan alone, the loan will be 4 times of my annual income. Besides, I have car loan on my name, which will make the situation even worse. Is it possible in these days?
On the other hand, will banks give me the loan while I am still a F1 (before October 1)? Or will they only give me the loan after October 1?
BTW, we have good credit scores: 740-780. We have 20% DP.
My question: Is it possible for my wife (J1 visa) to join the loan application?
It could / should be that if you are getting H1, your wife is eligible for H2 to remain in US with you, however, that does not confer employment eligibility. Hum, and I believe the J1 has a 6 year limit..... well, it seems they should consider her J1 with postdoc for the duration of that position at least (but that duration may be coming close to ending), and the primary purpose of a postdoc is to transition to a more permanent position - however, I guess you don't know what that more permanent position and visa status is yet for your wife. Hum... maybe you can only 'depend' on your income at this point. Sorry, I don't know more specifics than that. Good luck just the same!
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