Living without a greencard

[Miranda&James 8]

Becca, I am so happy for you and Wes right now. We also found a mortgage company to work with us too, knowing Joel doesn't have a GC yet. They are looking at me as the primary credit source but they are allowing his income as part of the equation.

It pays to read up and present evidence that you DO know what you're talking about.

I hope it works out like that for us too, as far as I know I have good credit and have a few lines of credit open to help build credit since I am pretty young and don't have a long credit history. But, James is definitely the one with the moolah that would finance that mortgage! After a couple more paychecks we're going to go investigate at banks.

Good Luck!!!!

Thanks

[meauxna 15]

Way to go R-jo in uncovering the *truth*. I just had to complete some paperwork for the bank this w/e and was amused at their list of required documentation.. I really don't want a bank teller interpreting my non-immigrant documents.. crazy!

And nothing to do with the actual portion of the Patriot Act that they think they are complying with.

I saw that there is another topic going on this theme, but I'll throw it in here... check your alien spouse's credit report! You may be happily surprised. I added the DAH as an authorized user to one credit card. Within a few months, his credit score was almost as high as mine, purely leaching off of my record, I guess. I can not explain how or why it worked, but it did work for us. He's never made any special effort to establish credit here, but has a very high FICO.

Clark Howard (and me) recommend www.myfico.com for a free consolodated report of your FICO number. This pulls from all the credit bureaus, and has a function to let your correct errors (there are always a few).

Happy scoring!

[Miranda&James 8]

Way to go R-jo in uncovering the *truth*. I just had to complete some paperwork for the bank this w/e and was amused at their list of required documentation.. I really don't want a bank teller interpreting my non-immigrant documents.. crazy!

And nothing to do with the actual portion of the Patriot Act that they think they are complying with.

I saw that there is another topic going on this theme, but I'll throw it in here... check your alien spouse's credit report! You may be happily surprised. I added the DAH as an authorized user to one credit card. Within a few months, his credit score was almost as high as mine, purely leaching off of my record, I guess. I can not explain how or why it worked, but it did work for us. He's never made any special effort to establish credit here, but has a very high FICO.

Clark Howard (and me) recommend www.myfico.com for a free consolodated report of your FICO number. This pulls from all the credit bureaus, and has a function to let your correct errors (there are always a few).

Happy scoring!

I've tried going on those sites from the freecreditreport.com page and have always gotten an error whenever I tried to find my credit report. I see that this site wants you to put in a credit card - can I still get my credit report and all that if I cancel the thing before the 30 days is up?

[Miranda&James 8]

Cool that site worked for me, thanks meaxuna Just gotta remember to cancel it though!

[meauxna 15]

Cool that site worked for me, thanks meaxuna Just gotta remember to cancel it though!

Actually, sorry about that Miranda. You used to be able to get a free report without signing on for anything. DO be sure to cancel if you don't want the service ongoing.

This site https://www.annualcreditreport.com/cra/index.jsp is the result of new legislation that requires the Big 3 credit bureaus to give you a free copy of your report each year.

These reports are different from the FICO report, and are also a good idea to get (stagger your checking to every other month or so to maximize your freebies).

[Miranda&James 8]

Cool that site worked for me, thanks meaxuna Just gotta remember to cancel it though!

Actually, sorry about that Miranda. You used to be able to get a free report without signing on for anything. DO be sure to cancel if you don't want the service ongoing.

This site https://www.annualcreditreport.com/cra/index.jsp is the result of new legislation that requires the Big 3 credit bureaus to give you a free copy of your report each year.

These reports are different from the FICO report, and are also a good idea to get (stagger your checking to every other month or so to maximize your freebies).

Thats ok, I'll remember to cancel it so I should be fine I've tried the annual credit report thing and for some reason it never works for me. I noticed on the site you recommended that it said that my credit rating was only available from one of those three biggies and I'm not sure why

O well it worked just now for me with the credit bureau the myfico site said was available but I didn't try the two that didn't show up on the site. I'll wait a couple months and see if it works

Edited February 6, 2007 by Miranda&James

[Otto 83]

It's gonna be difficult for anyone to get a loan on their own with little or no credit history and a short job history. Not just a foreign national.

Difficult is not the same as impossible.

Secondary lenders can be found to loan money to just about anyone in just about any situation.

May not be the amount you want or the % you hoped for, but it's not impossible to own a home in this country.

[rebeccajo 14]

It's gonna be difficult for anyone to get a loan on their own with little or no credit history and a short job history. Not just a foreign national.

Difficult is not the same as impossible.

Secondary lenders can be found to loan money to just about anyone in just about any situation.

May not be the amount you want or the % you hoped for, but it's not impossible to own a home in this country.

Precisely the reason for my post.

FNMA sets no bars to lenders that should cause loans to Foreign Nationals or Permanent Residents be any more 'restricted' than loans to USC's. Any bunk you hear out there stating such is patently false.

Loans are sold to FNMA in pools - not separately. However separate loans are sold by mortage brokers to mortgage servicers who MAY have higher bars for purchase of the loan. But that self-set bar has nothing to do with their ability to sell the loan in a pool to Fannie. They know it but the consumer does not.

So search for a mortgage banker who deals with a mortgage servicer who will grant you the loan on the same terms as they would anyone else. They are out there and you need not settle for less.

Edited February 20, 2007 by rebeccajo