Any company provide loan to new immigrants (i.e no credit score) ? I can put up to 25% down payment.

Asked by Kenny, Hoffman Estates, IL Tue Dec 4, 2012

I am an immigrant to USA, just landed here a month ago. I want to buy a condo ($60-70,000). How can I get a loan ? Are there any company who gives loan to immigrants (i.e no credit score) ? Can anybody here give me suggestions ?

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Sohail Salahuddin’s answer
Sohail Salah…, Agent, Chicago, IL
Thu Dec 6, 2012
Kenny,

You have a lot of good advice here. Also, there are some alternative lenders that I would recommend such as the Polish/ Slavic credit union. I have a client now that received a financing from them, up to 40% to purchase.



Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes
Tony Guisto, Other Pro, mokenA, IL
Wed Dec 5, 2012
Hi Kenny,

Give me a call to discuss further. I have a few questions and may even have some options for you but want to find out exactly what you are looking for.

Thanks,
Tony Guisto
Solid Solutions Real Estate and Investments, Inc.
708-942-7039
http://www.housebuyerrei.com
0 votes
Erik Sachs, Agent, Chicago, IL
Wed Dec 5, 2012
It is sometimes hard to find a lender on a condo in that price point regardless of credit. You will have better luck financing a more expensive (+$100K) single family home. Does your employer have a credit union?

Erik Sachs
RpV Realty LLC
Cell 773/368-5515
Email esachs@rpvinc.com
0 votes
Manuel Brown, Agent, Chicago, IL
Wed Dec 5, 2012
Dear Kenny,

If you have are working for a U.S. company and are her on a green card. You will have to establish credit here in the U.S. A loan officer has to be able to very your credit worthiness, income, and assets in order to determine the load amount you qualify for.

You are also starting a new job? If that is the case as well lenders will want to see some job history. You would also have to contact you overseas former employer well in advance and let them know you will need documents of proof of your work history.

You can also talk with a lender. I work with Guaranteed Rage. Call Mary Laurent at 773-516-6859 and she will explain what you would need and if you need to wait will let you know how long you will need to wait. She may also have other ideas for you.

Welcome to Chicagoland and Best of luck,

Manuel Brown, Broker
iMove Chicago
0 votes
Armond Rainey, Agent, Houston, TX
Tue Dec 4, 2012
Patti Contrasto-Kelly
7:38 PM (14 minutes ago)

Only to foreign nationals who don’t have permit to work here, but rather work outside the country… If they are already here working permanently, they would have to establish credit history here.
0 votes
Matt Laricy, Agent, Chicago, IL
Tue Dec 4, 2012
There are some people out there that can, but you have to have a job or some sort of assets here.
0 votes
Hi Matt... does part-time job help ? How long I must work before these people can consider me for that.... I would appreciate if you can let me know possible places to go for such loan....
Flag Wed Dec 5, 2012
Armond Rainey, Agent, Houston, TX
Tue Dec 4, 2012
I will get an answer for you in a few
0 votes
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