The guidelines state our small cloverleaf carrying friend establish
residency with a lender-approved work visa. The types of documentation have
changed so be sure to check with the bank or lender and follow their guidelines.
Student and other limited visitation visas are not considered adequate
documentation for mortgage financing. A green card (not just for the Irish) or
permanent residence extends all of the same benefits as a U.S. Citizen when
financing homes.
The Leprechaun must also build a credit history that spans two years with
three credit lines. A good credit score is important in order to receive a
competitive interest rate.
Unfortunately having a pot of gold does not qualify for down payment or
closing costs, unless it has been put in a bank and seasoned for over 60 days.
"At the end of the rainbow" is not an appropriate paper trail.
Work history is important. If Leprechauns follow the tradition of
conducting mischief for profit, they will need a two year income history
disclosed on American tax returns.
It's not easy being green or in real estate. That's why we have
Guinness.
