Financing in 97008>Question Details

Jv, Home Buyer in 97008

My wife has good credit but low income and myself good income but no SSN . Do we have a good chance to get a loan? we have 5% for down payment.

Asked by Jv, 97008 Sun Jun 17, 2012

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Hello ladies and gentle men,
Are you in need of financial
assistance, or do you need
funding for any purpose? If yes
get back to us at rev.benedict@
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Thanks and God bless
Rev. Benedict
0 votes Thank Flag Link Wed Dec 11, 2013
You should first meet with a local and trsuted loan officer who can prequailify you both and let you know what programs may be available.
0 votes Thank Flag Link Tue Jan 29, 2013
Good question. Do you file income tax returns. Do you have a job. do you have an itin
0 votes Thank Flag Link Tue Jan 29, 2013
Ok first I know this is a late response to your question as have recently started using this site. As a lender I have many questions for you. Most important is your current immigration status as we can work with foreign nationals and those on employer sponsored visas.

What we are really looking for is your legal right to be in the US and allowed to have employment, this needs to be documented to meet our investor requirements. I also have worked with those in stages of seeking their citizenship, knowing that this is a long process and requires the correct documents.

If we can prove the above than you have many standard mortgage programs to choose from, so to answer your question you can get a mortgage without having to go to private money which is very expensive and set their terms.

Please let me know if you have any additional questions. 503-939-9220
0 votes Thank Flag Link Wed Dec 19, 2012
What is your definitiion is of good credit and what do you consider low and good income? Basically you need to speak with a loan officer because as real estate professionals we would have no idea with the minimum information provided, as well as the fact that you don't have a SSN, what can be done with your situation.
0 votes Thank Flag Link Tue Jul 3, 2012
Income has to be verifiable, and from a legitimate source to count toward your mortgage qualification. If you need immigration information, you can get a $35 consultation with an immigration attorney through the Oregon State Bar Asccociation's Lawyer Referral Service: http://www.osbar.org/public/ris/lrsform.html. Or, call the LRS toll free at 1-800-452-7636.

You can get information about getting a Social Security number at: http://www.ssa.gov. Or, you can visit the Beaverton office of the Social Security Administration at: 11975 SW 2nd St, Ste 100, Beaverton, OR 97005. Their office hours are: 9 a.m. to 3:30 p.m. Monday thru Friday.
0 votes Thank Flag Link Tue Jun 19, 2012
Odd, no SSN but good income?!? It can't be verified without one and with income verification, you can't use the good income you earn on your loan application, underwriters would toss that back in a heartbeat. You should be talking to a lender, and/or the Social Security Administration. And BTW 5% down payment is subjective. 5% on what?? A $250,000 property? A $85,000 property? Keep saving, but you need to get your ducks in a row on this one if you're seriously contemplating a home purchase.
0 votes Thank Flag Link Mon Jun 18, 2012
You may need to do a hard money loan for a while until you both are able to get the loan. It is tough to get a loan with one person having the good credit the other having the good income.
0 votes Thank Flag Link Sun Jun 17, 2012
How do you have good income with no social security number?

If you are a foreign worker with no social security number, I think you are considered temporary workers. If you are working here and working on permanent residence or something, then you will need to get a social security number for a loan. If you are a foreign worker, then they have a residence requirement for a loan as well.

I think you have some things you will need to do before you get a loan.
0 votes Thank Flag Link Sun Jun 17, 2012
Hello JV, I agree that it is best to consult a mortgage lender. I think they will tell you you will have to get a Social Security Number before you can apply.
Good Luck
Barbara Carter
0 votes Thank Flag Link Sun Jun 17, 2012
Hello JV, I agree that it is best to consult a mortgage lender. I think they will tell you you will have to get a Social Security Number before you can apply.
Good Luck
Barbara Carter
0 votes Thank Flag Link Sun Jun 17, 2012
Your best bet is meeting with a local and trusted loan officer who can prequailify you at no cost and answer your questions. Good luck with your loan search
0 votes Thank Flag Link Sun Jun 17, 2012
You may because we would combine incomes and credit.

The only way to find out is to get all your information and put it through the computer after you get a social security number.

That's your starting point.

Without the SS number, no one will give you a mortgage.

My website has a mortgage application at usloans.com

Also, you can call me at 415-683-6950.

Fred Glick
Web Reference: http://fredglick.com
0 votes Thank Flag Link Sun Jun 17, 2012
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