Can I get a mortgage with foreign income?
The full answer
Whether foreign income counts depends on continuity. If your overseas employer keeps paying you in the U.S., or you have a documentable, ongoing foreign income stream, many lenders will count it — but they'll want translated tax returns and statements, sometimes converted to U.S. dollars, and proof the income continues.
Income you earned abroad before immigrating and that has now stopped usually can't be used. In that case, build a U.S. income history (a two-year track record is cleanest) or look at programs that don't depend on personal income.
For non-residents buying U.S. property, a foreign-national loan documents income and assets from your home country in exchange for a larger down payment (often 25–40%). For an investment purchase, a DSCR loan qualifies on the property's rent instead of your income entirely.
How is foreign currency income converted?
At a documented exchange rate — usually an average over the recent period rather than the spot rate — with translated statements. Lenders discount volatile currencies, so the figure that reaches your application may be conservative.
Does the income have to continue after I move?
Yes, and that's the crux of it. Income that stops when you relocate generally can't be used. Continuing income — a foreign employer retaining you, or overseas rental income — is what a lender will consider.
Related questions
If this came up, these usually do too — the short answer to each, with a link to the full breakdown:
- Can I buy a house with an ITIN instead of a Social Security number?Yes. While conventional, FHA, VA and USDA loans require a Social Security number, ITIN mortgage programs from portfolio lenders, community…
- Can I get a mortgage on an H-1B visa?Yes — via conventional loans. With a valid Social Security number and work authorization, H-1B visa holders qualify on standard terms,…
- How much down payment do you need for a self-employed mortgage?It depends on the loan, not on being self-employed. Conventional loans start at 3–5% down and FHA at 3.5%, with the same minimums for…
Sources
- Fannie Mae Selling Guide
- CFPB — Consumer Financial Protection Bureau
- Freddie Mac Single-Family Seller/Servicer Guide
Educational information only — not financial advice, and not a quote, pre-approval, or offer of credit. Program rules and ranges are illustrative and vary by lender. Mortgage Merlin is a publisher, not a lender or broker.