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Is there a chance I can get a mortgage? No W2 or 1 W2

I'm new to the country on H1B visa. Well, not so new, about 6 months now. I've good 6 months credit history (I think most lenders require 1 year minimum). My Experian score is good, with my history level at F, because of my credit history is too short.I'm a full time employee of the Texas A&M. And my income is good compared with the housing price here. (gross $5700 per month).But as I mentioned, I only worked here in US for 6 months. I was an employee of Amazon in China (so, outside of US) for 4 years before this.I don't have any other loans.I've 2 credit cards (chase freedom and discover it). I was born 1982. I'm with my wife and 2 kids.I have 7K-10K that can be down payment.That's my current finance status. Please suggest the chance that I can get a mortgage and what the rate would be like.I can wait a while, But I'd like to get it ASAP.Thanks!Noahnoahhan@outlook.com by Jie Han from College Station, Texas. Sep 2nd 2015 Reply


I don't know the format would mass up. My email is noahhan@outlook.com Thanks!

Sep 2nd 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Ok.. so there are a couple of Things that put you in a spiral spin. The current lending guidelines do allow for H1B visas, however this is a temporary visa that lasts for 3 years, and can be extended for another 3 years.. Lending guidelines require that you have 2 years of filed federal US tax returns to qualify, and guidelines also state that your income must be likely to continue for at least 3 years.. So for sure, you cannot apply for another year and a half.. but then after that, it's possible some lenders will disallow your application until you file for a visa extension, and get approved for another 3 years.. But if you want to know for sure, then the best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Sep 2nd 2015
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