Ask Experts Questions for FREE Help !
Ask
    bienchen's Avatar
    bienchen Posts: 2, Reputation: 1
    New Member
     
    #1

    Mar 11, 2013, 10:34 PM
    Mortgage for non-resident alien (on F1 Student Visa)
    I'm an international student on an F1 Visa who's been in the US for the past 8 years and will be attending graduate school for the next 6 years (PhD). Since August 2011 I've been employed full time (12-months CPT and 12-months OPT post master's). My PhD program is located in one of the cheapest areas of the US and it makes sense financially to buy as opposed to renting.
    I will be able to put 20% down and I have an excellent credit score (795) and, of course, I have a 2+ years work history (was a TA in my master's program for 2 years before I started working full-time - altogether almost 4 years bv the time I'd apply for a mortgage ). Additionally, my PhD program guarantees funding for 6 years.
    I'd like to know what I need to watch out for when applying for a mortgage.
    What are the official regulations for giving a mortgage to non-resident aliens?
    I know that ultimately a lender can exclude people on whatever basis they feel like, but I want to be prepared for at least the most common scenarios. I know it's easier to if I have at least an H1B visa, but what about my specific situation (not many people can say that they'll have a guaranteed income for the next six years)?

Check out some similar questions!

Mortgage for non-resident alien (on F1 Student Visa) [ 0 Answers ]

I'm have been an international student in the US on an F1 Visa for the past 8 years and will be attending graduate school for the next 6 years (PhD). Since August 2011 I've been employed full time (12-months CPT and 12-months OPT post master's). My PhD program is located in one of the cheapest...

F-1 Student Resident Alien for 2012 But Still a Student - Do I pay FICA? [ 1 Answers ]

Hi I have been an F-1 student in the US since 2007 and thus starting this year, I am considered a resident alien for tax purposes. However, I am still a full time student working on-campus and on a scholarship and getting graduate assistantship from my department. The lady that deals with finances...

Non-resident alien on F-1 student Visa - do I have to pay New York City Resident Tax? [ 1 Answers ]

I'm a student on a F-1 visa. I'm considered a non resident alien. I live in NYC, should I pay city taxes?

Indian Student (F1 VISA from 2006) Resident Alien (eligible for 2012) [ 3 Answers ]

Hello, I am an Indian national who came to US in 2006. I have been on F1 VISA since then. I was told that I come under 'Resident Alien" category (since I have been for over 5 years). I was wondering if I can claim India-US Treaty benefits along with with the standard individual deduction? ...

Student from India on F1 since Aug-09, resident alien or non-resident alien for 2011 [ 1 Answers ]

I am on f1 visa from India, came to U.S in August-2009, have been here continuously since then, what is my status for tax filing for the year 2011, resident alien or non-resident alien?" Yo


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.