It is your friend who is buying a house. But you are asking your chance of getting a loan approved. I dint get it. But a chance of getting your loan approved depends upon your history not your friend, even if he is the one who is buying a house. As far as I know, it is entirely on your credit history and job history. OPT will not come on the way. good luck

कुश · Mar 30, 2009 10:42 AM

OPT will come in the way for certain banks...As far as I know..Wells Fargo needs atleast H1 visa... also..it doesn't make sense to transfer the loan to your name, but the house be in your friend's name...the bank that will be taking the loan in your name isn't that stupid either...you taking the loan means the house too will be tied to that loan...and if you default the loan..your bank gets the house.. so if your friend is looking to transfer the loan to you..he will have to give his house to you too..

sajhapost · Mar 30, 2009 1:24 PM

Why on earth would you do that. Your friend may be the most honest guy in the whole world but why do you want to test that theory on your own dime. My unsolicited advice... In any case, to answer your question, the person assuming the mortgage (you) should be able to a) pay 20% down; b) prove that the monthly payment would be less that 31% of the take home salary; c) should have good credit history; d) should be able to provide last 2 paystub.

MickeyBlueEyes · Mar 30, 2009 3:56 PM

Thanks all, Its not me that i want to buy a house. Its my friend who wanted to buy a house and i was jusking speaking on behalf of him. Sorry for the confusion and thank once again.

admirer · Mar 30, 2009 7:17 PM