Real Estate Community Forum

I want to buy a house in Texas, but my credit isn't very good. I have been told that I might qualify for a mortgage if I have a cosigner. To my luck, I have an Uncle from the UK who has excellent credit, lots of property and a great income who is willing to cosign. My concern is, what are the chances that my mortgage company will accept my uncle as a cosigner even though he lives outside of the US? Will they consider it a risk or will his great credit work in our favor?

Most loan programs require that borrowers and co-borrowers be permanent residents of the United States. There are some specialized programs geared towards foreigners and ex-pats, but those are hard to come by and generally the lending guidelines are more stringent. My guess is that your uncle will not be able to help you with the mortgage.