Home Mortgages and Non–US Citizens

OK…today we’ve got some down and dirty details about legal residents and their home buying/mortgage eligibility. Basically, it is pretty straightforward.

First of all, there are two types of legal residency in the United States: permanent and non-permanent.

As long as an individual is working here legally they have the same FHA-type loan opportunities as anyone else. The only minor hiccup is the need to produce a bit more documentation.

But that’s not such a big deal because a legal resident would already be in possession of these docs as they would have needed them to complete the green card or work visa application. Plus, a legal resident who is working here will also already have their bank account and proof of funds deposited with a domestic financial institution.

Don’t confuse mortgages for legal residents with foreign buyers and domestic properties.

That show requires a whole ‘nother cast of characters and requirements, etc. and is a story for another day. What I think is really key, is that despite all the changes and crackdowns and constantly churning process updates to which we in this industry are subject, for this category of home buyer, you can obtain the same loan conditions as a US citizen. It won’t cost you anymore and there are no credit overlays.

At the end of the day, if you’re here legally you get what everyone else gets. In the world of mortgage loans, here’s to America the Beautiful.

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