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Hello, all.

My wife is French, but she is currently unemployed.

I am American — independant, "profession liberale" / entreprise individuelle. And officially, I have been in the French system since mid 2019.

This means that I can show income on my French tax return for half of 2019, all of 2020, and soon to be all of 2021.

We would like to buy an apartment in Paris.

Question: Does anyone have any advice or wisdom to offer with regard to getting a mortgage?​
We have had two brief meetings at our bank. The first time, they told us that I would need to be able to show 3 years of tax returns, and they would determine how much we could borrow from that. When I told them that I could only show back to half of 2019, they simply said that they would need to ask for more information and likely see several years of US tax returns too. Ergo, the bank seemed to offer a solution and not make a deal of it.

However, the second bank meeting, they told us that only being able to show back to 2019 could be problematic, and they did, this time, make a deal of it.

Two bank meetings, same bank, two different answers.

Any advice, experience, thoughts and help would be much appreciated!!

Thank you all!!!!
 

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Actually, the situation isn't all that much different for newcomers to the US. (Or was when I was still living there.) Most banks won't lend to "foreigners" until they have at least a 2 year credit history in the US. (Or if they do lend, it's only on "sub-prime" terms no matter what your salary level is. This from American friends who returned to the US from France a few years ago.)

As Lydi mentioned, there are options other than getting a mortgage from your bank. Mentioning a courtier might get their attention as she indicated. The other thing to remember is that mortgage terms are considerably stricter here, no matter what bank or finance agency you go through. The old one-third of income rule is pretty strictly applied (i.e. your mortgage payment can be no more than a third of your monthly salary - not sure if that's gross or net). It can help to know what their constraints are and try to play to them.
 

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In my experience, getting a mortgage on our existing house as a bridging loan when we bought a new house was very expensive.
There were bank fees for setting up the mortgage, taxes and Notaire's fees on the contract, bank fees for paying off the loan before it terminated (it had to be for a fixed term), and Notaire's fees again to terminate the contract.
I'm sure we could have borrowed money elsewhere at a lower cost.
I suggest you find out the exact fees, taxes and other charges before you sign anything.
I understand taxes are payable because the mortgage is treated either as a capital transfer or as an increase in personal wealth (patrimoine).
 
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