I am a foreign national on a h1-b work visa and i would like to buy a house in

[abby]

ny? How do I go get a mortgage? Hi, my brother goes to school at Hofstra University in Long Island, NY and I would like to buy a house for him to live in, so that he can rent out the other rooms that will hopefully cover the mortgage payments and give him some extra spending money, while the property appreciates in value as he finishes college.

I was working in Texas before on a H1-B (work) visa but I had to leave last month due to the death of my father. My visa is still valid but the company I was working for will be sold soon and my visa will probably be cancelled. FYI i have a british passport. however, the salary that I paid there wasn't very much, about $36K a year. The houses that I will be trying to buy will be at least $350K to max $500K because NY real estate is just expensive in general.

My main concern is getting a mortgage. My past income isn't nearly enough to qualify on its own but I do have money that I have inherited (high seven figures) recently in foreign bank accounts. My question is, will those bank accounts be enough to get a mortgage or will there be other stuff I need to provide as well? I do have a US social security number and my FICO score is 750 but the only credit given to me is a Capital One credit card with a $500 limit. Yes you read that correctly. My question is mainly how I would get a loan. How much can I expect to put down, given my circumstances.

For those of you familiar with the area, Hofstra is in Hempstead, NY which isnt a particularly nice neighborhood but the city of Westbury is close by and much nicer and I would think that it would be a safer investment. There is also a good deal on a house in Uniondale but it [uniondale] ranks somewhere betweeen Hempstead and Westbury in my opinion. Please advise on the mortgage or on buying in the area if you're familiar. Thanks!!

[Landlord]

YOu have a couple of problems, not enough income to pay a mortgage, and the fact that you can't get one on a work visa.

You need to buy with cash.