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How can I get loan if I don't receive W-2's on new job?

I've been working outside the US for a non-US company for about 7 months. I don't receive W-2's, just company issued salary statements each month. I have 20% to put down on modest home well within my means, but the credit union says they won't accept that for a conventional loan until I've worked that way for 2 years... They will give me a loan if I put 30% down and accept a balloon payment at 7 years, but that's not acceptable to me. by suetra_153_516 from Kennewick, Washington. Mar 17th 2013 Reply


give me a call and I can probably help you out ..I have a couple lenders that this should work ok. cannot get you the going rate out there, but it is still a good acceptable one.Jack Washburn206-227-9924

Mar 17th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,237 contributions

If it is not taxed as US income, or if you are considered a "contract" employee, you may have trouble getting approved. I

Mar 17th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,237 contributions

- it really depends on the details of your position, the company, and your income.

Mar 17th 2013
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 431 contributions

It has been my experience that your income has to be received in US Currency, and reported to the IRS......If this is the case, you should be ok. I am a lender in Walla Walla, and would be happy to discuss this with you. I can be reached at 509-386-5391.Thanks

Mar 17th 2013
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Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,876 contributions

You will have a near impossible time for any "traditional" or standard type loans. As you've discovered, you may find non-traditional loans, but they will cover with larger down payments and, higher rates, and shorter terms. Your situation is outside the box. www.JoeMetzler.com

Mar 18th 2013
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Sean McGrover (sean2109)
#167 ranked lender in Florida - 18 contributions

Typically you have to be able to provide up to 2 years in the same business or same line of work. You have been with this company for 7 months. Prior to this company, were you working is a comparable industry or doing comparable work within another company? If so, you may have options. If this new company is something that is outside of what you have been doing prior, then you may have to wait for the 2 year timeline. I hope this information is helpful and I wish you the best. Sean

Mar 18th 2013
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George Dokos (georgedokos@movementmortgage)
#57 ranked lender in Virginia - 25 contributions

Are you looking for a home in Virginia? If so, I can help,George DokosMovement Mortgager757-771-8862 mobile

Mar 18th 2013
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Paul McFadden (paul.mcfaddenmortgages@gmail.com)
#43 ranked lender in Washington - 45 contributions

You should be able to put 20% down. Have you worked in the same industry for the past 2 years? That is more critical than the fact that you're working for a non-US company.

Mar 18th 2013
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

You may have to accept a private mortgage, or locate a seller-carry home purchase. Your situation does not fit industry standards.

Mar 18th 2013
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