I have a SSN but no credit history/rating because I’m a non-US citizen. Can I still get a mortgage?
Here are my details:
- I got a SSN 9 years ago but I never got a credit card in the US, so I never built credit history here and can’t get a credit rating (I’ve already tried).
- Regardless, I am completely debt free, no student loans or car payments.
- I earn about $100k/year and have about $800k in liquid assets.
- I want a $1M loan for a house, and could potentially drop these savings as a 50%-80% down payment (though I’d rather pay less up front).
Will a lender approve this mortgage? What kind of rate would I be looking at?
Thanks!
i agree with the first two. however, even though you are putting down half i still have doubts that a “good reliable trustworthy” lender will finance you because it looks bad for you not to have any credit at your age and if you have been in the states for nine years. the underwriters need something to go off of and if you have nothing for them to judge by then its somewhat unlikely they underwriter will approve you. if you can wait a year to establish credit that would be great. but give it a try no harm in that but if you are denied i would revert to building credit and try again in a year. or at least six months. after opening a credit card account whethert it secured or unsecured.
