Home Buying in Chicago>Question Details

Xu, Home Buyer in Chicago, IL

Mortgage for f1, international student

Asked by Xu, Chicago, IL Thu Jul 10, 2014

I am currently a PhD student on F1 student visa, from IIT , and I am planning to buy a house in Chicago.
I have 5 more years to finish my program, and I am now supported by a combination of fellowship and research assistantship. That is a 20,000 income per year. My boyfriend also has similar condition.
So I think we can afford a monthly payment of around than 1000. 12,000 per year. And 60,000 for 5 years.

For the down payment, I have over 40K. And the properties I am looking at are all below100K. So is there any chance I can get any mortgage approved?

Help the community by answering this question:


Only way to really know is to ask a lender. If you need a referral, let me know. I can provide some people.
0 votes Thank Flag Link Wed Jul 23, 2014
There are guidelines as far as minimums that lenders can give. You are going to need to talk to a lender to discuss your options and if you can qualify for a mortgage. I have a few I work with if you would like a recommendation to any.
0 votes Thank Flag Link Tue Jul 15, 2014
Having seen many situations like this, I think this is a bad idea.
0 votes Thank Flag Link Sat Jul 12, 2014
yes, call Lex Carter 312 667 1977 and he's with The Federal Savings Bank
0 votes Thank Flag Link Thu Jul 10, 2014
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