Posted on: 03rd Apr, 2011 04:48 am
I worked in Asia for 15 years and retired in 2004 from a USA company. Since 2004 I have not lived or worked in the USA so no W2's. I am returning to the USA to live in Pennsylvania again and want to purchase a 3 unit commercial zoned investment property in Pennsylvania for $72,000 I intend to put down $20,000 so I would like to mortgage $52,000 and pay all cost and property upgrades from existing cash. I have $85,000 cash in USA bank accounts and I own a condo in New Jersey valued at $300,000 with no ($0) mortgages or liens that generates $1,700 a month in rent and has been occupied for 6 consecutive years. I have some stock, other income and will get monthly social security of $1700 monthly begining September 2011. I have a credit score of 781 have paid off 4 USA car loans and 2 mortgages in the past 10 years and have never been late on any monthly payments on loans, credit cards or mortgages. What can I do to get a mortgage or equity loan without the W2's?
Hi lhoughta,
If you have a documented proof of your income in Asia, then that might help you in qualifying for a mortgage. You should contact the local lenders with that proof and check out if they can help you with that loan.
Thanks
If you have a documented proof of your income in Asia, then that might help you in qualifying for a mortgage. You should contact the local lenders with that proof and check out if they can help you with that loan.
Thanks
Your rental and Social Security income might be sufficient, depending on your other indebtedness, if any. Ask around locally and see if someone will bite.
