How To Get Mortgage Even If You Are Not A U.S. Citizen

If you are not a US Citizen, it can be a long and difficult road to obtain a mortgage. Many lenders won’t makes mortgages to people who don’t have social security numbers or permanent work stability. For the purposes of getting a mortgage, US Citizens and Permanent Resident Aliens are the same, with one subtle difference, the Permanent Resident Alien possesses a green card their citizenship authenticity in the United States.

Terms to understand..

US Citizen-natural person born United States with a valid social security number

Permanent Resident Alien-person who possesses a green card making them a citizen in the United States who also possesses a valid social security number

Non-Permanent Resident Alien-person who does not possess a Green Card and has a valid social security number. A host country like the U.S., will offer temporary employment to a Non-US Citizen bringing from their home country, during their stay here in the United States, this person is considered to be Non-Permanent Resident Alien, meaning that their residency is not permanent, due to a fixed employment term in most cases.

Mortgage conditions for non-US Citizens: loopholes to be aware of

*Borrower’s ideally want to show the continuance of income for at least three years and need to be filing U.S. Income Tax Returns.*

For conventional loans , those backed by Fannie Mae and Freddie Mac, restrictions are more stringent on both Permanent Resident Aliens and Non-Permanent Resident Aliens.

Permanent Resident Aliens must have at least one of the following:

  • Permanent Resident Card Form l-551  with an original term of ten years, (doesn’t matter even if term is set to expire).
  • Permanent Resident Card Form l-551  valid for two years with supporting receipts from INS
  • INS receipt for a petition to remove condition residence form l-175, filed by the spouse who is a citizen

Non-permanent Resident Aliens must have a valid work visa or other supporting documentation of legal residency. Such documentation includes any of the following designation visas:

  • E1, E2, H1B, H2 A, H2B, H3, L1, G series and 0-1.
  • valid social security number is needed
  • Foreign nationals, or consumers with diplomatic immunity or any borrower without a social security card will be very hard pressed to find financing in this credit climate

For government mortgages, insured by the Federal Housing Administration (FHA), terms are more lenient. You need not be a US Citizen in order to get an FHA Loan. As long as you plan to occupy the property as your primary residence, even if you are a Non-Permanent Resident Alien, you are still eligible for financing.

*Mortgage Tip:  If you’re looking  to get a mortgage, and are a Permanent Resident Alien, the FHA Loan is more flexible to the extent your temporary residency in the United States is not set to expire in the next 12 months. If it is set to expire the next 12 months, strong supporting documentation will need to be provided to show this extension is approved and, or more emphasis will be on continuance of residency from the INS, supporting the long term income condition.

Q & A on citizenship in conjunction with qualifying for a mortgage

Q: Can I get a conventional loan if I’m not a US citizen?

A: You would likely fall into the Non-Permanent Resident Alien category and the answer is yes, so long as you can support a three-year continuance of income, have a valid social security number, and you have an eligible work visa. If your work visa is not any of the following E1, E2, H1B, H2 A, H2B, H3, L1, G series and 0-1, this doesn’t necessarily preclude you from being able to get a mortgage.

Q: Can get a mortgage loan if I’m a Permanent Resident Alien?

A: Definitely, provide a copy of your Permanent Resident Alien Card/Green Card, and two years copies of your US Income Tax Returns, and in most cases you should be good to go.

If you are seeking mortgage loan financing and are not a US Citizen, you can still qualify for a loan. If you like to learn more about your unique situation and whether or not you qualify for financing, start today by getting prequalified with us online today with no obligation.

 

 

 

Posted in:

RELATED MORTGAGE ADVICE FROM SCOTT SHELDON

Why you should wait for your credit to improve before applying for a mortgage

Why you should wait for your credit to improve before applying for a mortgage

In the current consumer landscape, securing approval for a mortgage is a significant challenge. It’s…

How to avoid getting a jumbo loan due to Coronavirus

New Mortgage Loan Limits for 2023

The Federal Housing Finance Agency announced on Tuesday, November 29th the new loan limits for…

buy a home now vs waiting

Buy a house now or should I wait?

One of the things homebuyers are always asking themselves is buying now versus waiting. Mathematically…

Mortgage Word Cloud Art

Why your income is your lifeline to finance a home

Getting mortgage loan financing requires you providing a blend of good cash, ample credit, and…

View More from The Mortgage Files:

begin your mortgage journey with sonoma county mortgages

Let us make your mortgage experience easy. Trust our expertise to get you your best mortgage rate. Click below to start turning your home dreams into reality today!