Ready for a house (Mortgage. .. blah)?

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Say you just moved from Germany and want to buy a house. You are still employed with Siemens in Germany and receive a salary until the end of August (your first payment is ~ $ 30/hr). You want to get in the same company as a page, but there are no jobs available, so you can find your way through a job at a side job that pays only $ 10 an hour. Well, if your loan, the loan can not rep the documents in a different language (imposing income, how long do you work, etc..) Able HR in Germany, but the problem is that they does not provide data to third parties only if made in writing. Are you worried because they can use the loan application because of unwilling current vacancies, despite the fact that you work your way back into the business. What to do? Could you go through another bank? Send your documents translated (officially)? I do not know much about these things, I’d appreciate any input. Thank you in person already advancDie U.S. loans. They were already genehmigt.Sie ​​for the loan are still other income from work, will not accept the loan representative German documents.

  1. Reply
    May 1, 2011 at 5:32 am

    You will have to get the loan through a German bank as you have no credit established in the US. Unless you can wait until you can build amercian credit.

  2. Reply
    May 1, 2011 at 6:22 am

    The lender is going to want current information as the loan is processed. They may request recent income information before the close any loan. Hope for the best but all lenders are tightening there requirements to protect themselves.

  3. Reply
    May 1, 2011 at 7:21 am

    I would go to a different bank. That seems extremely unreasonable that they could not have the documents translated. When you buy a house, you are handing that bank a very large amount of money in the form of interest on the loan. If they want your money they should be willing to do the work for it.

  4. Reply
    May 1, 2011 at 8:15 am

    Working your way back in to the company is too vague. You may never get a comparable job with comparable pay, so you can’t expect the lender to make a loan based on something that may not happen. We would require a letter from the employer explaining the terms of employment or a signed contract.

    Do you have credit in the US? If not, it’s going to be very very difficult to get a loan here.

    You can go to as many banks as you want, and provide whatever documentation you have available. If we want something translated, we’ll have it translated ourselves.

    But the bottom line is we have to be able to get a credit report on you, and you have to be able to verify your income. Your current income is what counts, not what you used to earn or may earn in the future.

    You also have to have the appropriate Visa, unless you’re an American citizen who happened to be working in Germany.

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