Home Buying in Stowe>Question Details

Eden NZ, Home Buyer in Stowe, VT

Can a returning US citizen with a foreign spouse (UK citizen) get a mortgage if both have been living and working overseas?

Asked by Eden NZ, Stowe, VT Tue Nov 6, 2012

- I have been working and living overseas for the last 11 years, so no recent US work history
- Currently in New Zealand
- Husband has green card but has never lived or worked in the US
- We will have at least $50,000 US for a deposit
- Moving to Vermont (Stowe area) to be near family
- Assuming we are both permanently employed, would we qualify for a mortgage or do we have to wait 1-2 years?

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Answers

2
Great question - and I must admit that I had to check my facts with a reliable resource (Jeff Teplitz, Everbank Mortgage) before answering this question! If this is for a primary residence, and the income being used to apply for the mortgage is earned in the U.S., it should be fine. However, the non-resident spouse's income can only be used to help qualify for the mortgage if they have a green card or work visa.
0 votes Thank Flag Link Mon Nov 26, 2012
Hi Eden,

The questions you pose are excellent. A lender is going to be the best person to answer you, as different financing options have different restrictions and requirements. We have a lender in our office who I'd be happy to put you in touch with if you'd like, simply send me your email and I can have her contact you to review options. Stowe is a beautiful area, we look forward to having you here!

Bill Desautels
Owner/Broker
RE/MAX North Professionals
p: 802-861-6217
e: Bill@TodaysHomesVermont.com
0 votes Thank Flag Link Wed Nov 7, 2012
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