Yes, some lenders accept foreign income to qualify for a US mortgage, but the options are more limited than using US-source income.
Lenders that accept foreign income typically require: translated and verified tax returns, employment verification from a foreign employer, and bank statements from a foreign bank account.
Non-QM and portfolio lenders are most flexible with foreign income. Standard FHA, VA, and conventional loans generally require US-source income.
Lender Options
Your best options: non-QM lenders (most flexible), portfolio lenders (hold loans in-house), community banks with international divisions, and some credit unions.
Documentation Requirements
You will need: 2 years of foreign tax returns (translated), employment verification letter from foreign employer (translated), 12 months of foreign bank statements (translated), and proof of US residency status or visa.
Translation Needs
All foreign documents typically need certified English translations. The translator must certify their qualifications. Some lenders accept translations from specific agencies only.
Rates and Terms
Rates are typically 1-3% higher than standard loans. Down payment of 25-50% is common. Some lenders require 6-12 months of reserves in a US bank account.
Alternatives
Alternatives: non-QM loans without income verification (asset-based), having a US co-borrower, establishing US credit and income first, or using a larger down payment to reduce the loan amount needed.
Tips for Success
Work with a lender experienced in foreign income. Start the process early. Have all documents translated before applying. Consider establishing US credit with a secured credit card.