I live in China and I'd like to buy my first home in Oregon.

You would have to purchase the home as a vacation or 2nd home since you work in China. Unfortunately most lender will likely consider anything less than a 3 year remainder to your contract insufficient as qualification for most mortgage programs requires that we verify that your income is likely to continue for a minimum of 36 months after closing. Depending on your overall qualifications and the type of loan you are requestion, there may be flexibility around those guidelines but the details will make a difference

You can purchase here as a second home. This requires 10% down payment. Next, we will want to see at least three years remaining of qualifying income, and you must have active credit here (a score). You will need to afford both house payments, and you will have to provide supporting income documentation equal to a US tax returns and W2's.

You have gotten two excellent answers so far but I have one little tidbit to add. A local bank or credit union may help you and work with you. They will likely call it a 2nd home and look beyond the fact that you have less than 3 years remaining on the work contract as long as the future employment makes sense. They will likely require 20% down and give you a 5/1 ARM that starts slighly higher than market but they could get you into that house. Good luck.

I believe most lenders will consider this a 2nd home. The good news is - 10% down will get you into the home for conventional financing. Most lenders will give you similar terms as owner occupied financing so I would apply right away with a trusted lender with excellent reviews. Good luck!

any conforming loan product will require you to purchase this home as a 2nd home.. living there 2 months of the year does not constitute "Primary Residence".. and the guidelines do not state that your primary residence has to have a mortgage, or even that you own it.. so you could be renting in Washington, and purchase a "2nd Home" in Oregon, and you would be subject to 2nd home loan terms.. regarding the income.. for the income to be counted, it has to be reported on a US federal tax return, and you must pay taxes on that income.. and for the lender to consider your work, you would be required to prove that your income is likely to continue for at least 36 months after the loan closes.. in your scenario , you are 3 years into a 5 year contract, and unless your contract has built in extension options, then it would likely not pass the test.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com