International Employer problem

[violet100]

I am in the USA and my employer is international. My employer does not have US subsidary, or a US payroll, and does not 1099 me. I pay my taxes quarterly. I am shopping for an FHA loan, but banks are telling me "no" due to my employment situation. The last one I spoke to said my situation does not"fit into a bucket, and therefore, I will likely not qualify"

 

My employer is willing to do anything necessary to help me get apporved - I think what they mean by that, is that they will write letters stating that I am a long term employee, or something like that. The problem is that I dont know what to ask them for. One of the banks I spoke to told me to get on their payroll and a get a contract to guarantee my employment. Im sure they would do that for me, but it doesnt make sense to me why I would get on an international payroll and pay taxes in that country and then I would assume I would also be responsible for my US taxes.

 

Does anyone know what I should do? Are there broker/banks who work with situations that "do not fit into the bucket"? The 3 banks I spoke to were all very vague with me; I think its because they have worked with someone in my situation and they do not know what to tell me. It unfortunate because my job is very secure, I do not fear going to work and being laid off like I did when I was on a payroll. I just dont know how to prove it. Is it seriously hopeless?

[snowpuppy]

How many years of American tax returns do you have?

[jop3]

+1 to snowpuppy's question. If you have filed taxes on this job for at least 2 years, you should qualify as a self employed borrower. You said you are paying taxes, so you should be able to get this done at the 2 year mark.

[violet100]

+1 to snowpuppy's question. If you have filed taxes on this job for at least 2 years, you should qualify as a self employed borrower. You said you are paying taxes, so you should be able to get this done at the 2 year mark.

 

Thanks for the replies. I have only 11 months of taxes filed for this position. I started in Feb 2011.

 

I found a bank willing to try w/o me having to go on the international payroll. It has something to do with my last job being very similar. I dont understand it, but we will see.

[jop3]

Ah, that's the problem then, they want you to have 2 years on this job. You'll find that requirement most places. Good luck!

[snowpuppy]

+1 to snowpuppy's question. If you have filed taxes on this job for at least 2 years, you should qualify as a self employed borrower. You said you are paying taxes, so you should be able to get this done at the 2 year mark.

 

Thanks for the replies. I have only 11 months of taxes filed for this position. I started in Feb 2011.

 

I found a bank willing to try w/o me having to go on the international payroll. It has something to do with my last job being very similar. I dont understand it, but we will see.

 

Then you have no US tax returns filed. You only have estimated tax payments.

[violet100]

+1 to snowpuppy's question. If you have filed taxes on this job for at least 2 years, you should qualify as a self employed borrower. You said you are paying taxes, so you should be able to get this done at the 2 year mark.

 

Thanks for the replies. I have only 11 months of taxes filed for this position. I started in Feb 2011.

 

I found a bank willing to try w/o me having to go on the international payroll. It has something to do with my last job being very similar. I dont understand it, but we will see.

 

Then you have no US tax returns filed. You only have estimated tax payments.

 

 

Well, I filed US taxes for 2011 which included 11 months of 2011 (Feb - Dec) at this position with the international employer. And I have made 1 estimated tax payment for 2012 (In April).