Can overseas income be used by American to qualify for mortgage in USA?

Hello all.

New to the site and the forum but am wondering if someone might be able to answer a question my husband and I have.

He is a US citizen and we live in South Africa where we have a business that does very well. We would like to move back to the USA in the next few years and to buy a home now while prices are low but we are doubtful about whether US banks/lenders would accept a foreign income in terms of qualifying for a mortgage.

Does anyone know anything about this or have any useful info to share?

Thank you.


It would have to have been reported as income over the last one-two years and also you would need to be able to prove that it was going to continue.

It looks like you want to purchase a home in the USA in a few years. So open a bank account in a USA bank and make regular deposit in that account. This will establish a banking relationship in the USA and make that account easy to verify and have the US dollars seasoned. This will elimate the messy business of transferring money from another country and having to verify the sourse of that money.

Foreign Income also needs to be claimed on US Tax Returns.

Yes I agree. File a US Federal Tax return. Paying a little tax will go a long way to make verification of income or interest received on a US Bank account. This will payoff when it comes time to purchase property in the US and move back to the Good Old USA.