Home Buying in 02115>Question Details

Drliuhao, Home Buyer in Boston, MA

Can international graduate student who get regular stipend from his university get any kind of loans to buy a home? thanks.

Asked by Drliuhao, Boston, MA Sun Sep 18, 2011

Can international graduate student who get regular stipend from his university obtain any kind of loans to buy a home? thanks. no SSN,

Help the community by answering this question:

Answers

5
I would contact a portfolio lender - it will be your best option.
0 votes Thank Flag Link Wed Apr 24, 2013
It is very possible. However, it depends on your credit history OR your initial down payment. I am dealing with a similar situation regarding an international buyer in Boston. Where are you considering to buy please in Boston?
Please feel free to contact me if you need further assistance.
C.H. Naamad
Broker
Boston Luxury Residential
617-407-9740
CH@BLRBoston.com
0 votes Thank Flag Link Sun Sep 18, 2011
I am not a mortgage specialist but foreign nationals do purchase homes in the US. My guess is that the more important issue will be the lack of a full-time job that has a sustainable future combined with the required down payment. A stipend is not likely to be considered long term, sustainable income.
0 votes Thank Flag Link Sun Sep 18, 2011
You will need to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any programs that you may quailify for as a student and not having a ss card. You will need to show an income that can pay the expenses of the home.

http://www.trulia.com/blog/scott_godzyk/2011/08/how_do_i_kno…

Please see my blog for a list of tips and advice on getting a mortgage
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Sep 18, 2011
You can probably get a hard money loan from a private lender that covers a small fraction of your purchase. You'll very likely need to put down a large downpayment of 50%+ to even be considered in your situation.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sun Sep 18, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer