Tweet
Has anyone gotten a mortgage without an actual green card while under AOS pending, and without a USC co-signer?
-
-
Has anyone gotten a mortgage without an actual green card while under AOS pending, and without a USC co-signer? -
Many lenders will qualify immigrants for home ownership. Most simply require a copy of the Green Card, front and back, and a copy of either an H-1 or L-1 visa.Comment
-
My husband got a mortgage while his AOS was pending. The only immigration related document that they asked for was his current work permit. Of course you have reams of other documents to produce in order to get a mortgage and they will check carefully that your job is secure but although he brought all the immigration paperwork with him all they needed was the work permit. I(USC) was not a cosigner for the mortgage so if you have good credit, a secure job and a history with a bank account there should be no problem. Good luck.Comment
-
I mean an immigrant is under AOS, and therefore cannot produce anything you named. Does he still get a shot at getting a mortgage.
Why would they require a green card AND a visa? Green card holders don't need visas.Comment
-
Evengord, do you know what mortgage company/bank was that?Comment
-
My error. Should be "or".
Not to do any advertising, but I know that Fifth Third Bank initiated an Immigrant Homeowner Programme recently, citing that immigrants comprise a large segment of the US populus, and would be very viable home owners.Comment
-
I saw something about it in Fox News a few days ago. I dont remember the name of the Bank though. It seems more it was an organization or something like that.
I know people who are ilegales and have gotten mortgage. It seems you only need to provide a SS number (so they can do a credit report check), a valid ID (like a driver's license) and your tax return. Why would the bank ask for your status? Do they ask birth certificates to USC?
I think is like opening an credit account. Besides, in a mortgage the bank has your house as a warranty that you will pay. If you get deported, they will start a foreclosure and recover their money.Comment
-
Cayita, you do make sense.
The reason I'm asking is because ALL mortgage applications ask whether you're a US citizen or permanent resident. I was just wondering what happens when you answer "no" to both. AOS applicant cannot say he's a permanent resident.Comment
-
Gordon got his mortgage from GMAC. That is a huge mortgage lender in this area(Detroit). I believe they also are big in other areas. I think what might have made it so easy was that he had had a car loan through GMAC also but still if your credit is good and you have a stable job I would think it could be as easy for you also.Comment
-
Credit history and income/assets is not an issue in this case.
Thanks for responding, Evengord.Comment
-
Cayita,
The lender would want to know the alien's immigration status because it wants to insure its risk. The more transient the status the more likely the alien/borrowmer might leave town and not pay the mortgage. A deed of trust on the house is a collateral of course, but banks in the end do not want houses; they want their money paid off. That is why if the alien is not a permanent resident (and who also has 2 years of work history -- to show stability in income) the lender usually either would lend at a higher interest rate or just pass on the business.
My cousin and his wife are non-immigrants. My cousin has a H1B but his wife an F-1. The lender would not consider the wife's income as part of the calculation (thought her F-1 status was too risky). My cousin's H1B the lender would accept -- I guess in CA where I am HIBs do not necessarily have a high risk of high-tailing.
Fresh Taco, as far as a mortgage company is concerned, it is about risks. It is not that the borrower is simply an AOS applicant, but whether or not based on his earning history he has shown stability.Comment
-
On more point, there is always a lender who will lend money to the riskier borrower. The borrower may haev to, however, not expect one of those "all time low" mortgage rates that we keep hearing about in the ads.Comment
-
As I said before, credit history, income and assets is NOT an issue in THIS particular case.
My question IS SIMPLY regarding a borrower under AOS status.Comment
-
If an H1B holder can get a mortgage, woudn't it make sense that an AOS applicant would be able to get a mortgage too?Comment
Comment