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  • Home loan

    Has anyone that is waiting to be put on DA applied for any loans here in the counrty of usa? I am tired of wasting money on rent. i want to buy a house and pay cheap mortgage while i wait

  • #2
    Originally posted by Chooj View Post
    Has anyone that is waiting to be put on DA applied for any loans here in the counrty of usa? I am tired of wasting money on rent. i want to buy a house and pay cheap mortgage while i wait
    I got the loan for my car from the GE Credit Union but you would need to good credit history and job with pay stubs. See if someone can co-sign with you. At least EAD is needed for some sort of legal documentation.

    ---------------------------------------------------------------------------------------

    Fiscal Year 2018 U Visa Approved
    Application Date - April 14 2014
    DA EAD - April 10 2015
    2nd EAD Application Date - Dec 16 2016
    2nd DA EAD - June 18 2017
    I-918 Approved - Oct 12 2017

    ---------------------------------------------------------------------------------------

    Comment


    • #3
      Originally posted by csharam.uc View Post
      I got the loan for my car from the GE Credit Union but you would need to good credit history and job with pay stubs. See if someone can co-sign with you. At least EAD is needed for some sort of legal documentation.
      I do have employment and pay stubs. I am just thinking of if home loan is something immigration will disaprove of when they do investigation for uvisa

      Comment


      • #4
        Originally posted by Chooj View Post
        I do have employment and pay stubs. I am just thinking of if home loan is something immigration will disapprove of when they do investigation for uvisa
        USCIS can't go and look after your financial affairs and they don't need to. A background check is the only thing they would do and you are not committing any crime you are taking a loan if your bank allows to. A typical home loan of 15-30 years would require you to be a green card holder or citizen at least. My loan company raised their eyebrows after they approved me for 36 months and my ead valid for only 24 months.. just saying.

        ---------------------------------------------------------------------------------------

        Fiscal Year 2018 U Visa Approved
        Application Date - April 14 2014
        DA EAD - April 10 2015
        2nd EAD Application Date - Dec 16 2016
        2nd DA EAD - June 18 2017
        I-918 Approved - Oct 12 2017

        ---------------------------------------------------------------------------------------

        Comment


        • #5
          They will need an ID and Allien number for the loan , ( A-xxxxxxxxxx ) , in the escrow info request declaration page you can claim being a legal resident once you get the number assigned to you .
          The easiest way is to put the 20% down payment in to the mortage .

          Comment


          • #6
            You can get a tax ID and that's as good as a social security to the banks.

            Comment


            • #7
              Originally posted by Chooj View Post
              Has anyone that is waiting to be put on DA applied for any loans here in the counrty of usa? I am tired of wasting money on rent. i want to buy a house and pay cheap mortgage while i wait

              Chooj, I have had previous years of experience in the mortgage industry, so this is a topic I have expert knowledge in. You cannot get a TRADITIONAL mortgage while waiting for DA. You can get a traditional mortgage once you receive your work permit, however. With that, you will need to document that your work permit will be renewable once it expires, which on a u-visa, that should not be hard to prove as there is a long waiting period while on DA and it is one of the few immigrant visas that leads to a green card in the future. Please keep in mind in order to get your loan process started and get pre-approved to buy a house, your loan officer will need MOST recent 30 days of paystubs, at least 2 years personal/ business tax returns, at least 2 years employment history, your credit report with a credit score of no less than 580, MOST RECENT 2 months bank statements and 2 forms of IDs (one of which must be a valid Social Security Card).

              With your work permit and the documents mentioned above, you may be able to get qualified for any traditional loan program, just like a green card holder/ US Citizen would. In today's market, there are loan programs that require only a down-payment as low as 1% on a Conventional loan program or as low as $100 down on a FHA loan program, keeping in mind that your particular loan scenario would have to meet the requirements of those loan programs. You do not need to put 20% down and you cannot use a ITIN # (or Tax ID) as a substitute for your Social Security Number , as per Trump and Mommy Dearest.

              What is your U-Visa application date and what State are you located in?

              Comment


              • #8
                Originally posted by Waiting View Post
                Chooj, I have had previous years of experience in the mortgage industry, so this is a topic I have expert knowledge in. You cannot get a TRADITIONAL mortgage while waiting for DA. You can get a traditional mortgage once you receive your work permit, however. With that, you will need to document that your work permit will be renewable once it expires, which on a u-visa, that should not be hard to prove as there is a long waiting period while on DA and it is one of the few immigrant visas that leads to a green card in the future. Please keep in mind in order to get your loan process started and get pre-approved to buy a house, your loan officer will need MOST recent 30 days of paystubs, at least 2 years personal/ business tax returns, at least 2 years employment history, your credit report with a credit score of no less than 580, MOST RECENT 2 months bank statements and 2 forms of IDs (one of which must be a valid Social Security Card).

                With your work permit and the documents mentioned above, you may be able to get qualified for any traditional loan program, just like a green card holder/ US Citizen would. In today's market, there are loan programs that require only a down-payment as low as 1% on a Conventional loan program or as low as $100 down on a FHA loan program, keeping in mind that your particular loan scenario would have to meet the requirements of those loan programs. You do not need to put 20% down and you cannot use a ITIN # (or Tax ID) as a substitute for your Social Security Number , as per Trump and Mommy Dearest.

                What is your U-Visa application date and what State are you located in?


                thank u for all that details. it is extremely helpful. I just applied for uvisa last year 2016 in California.

                Comment


                • #9
                  Originally posted by Waiting View Post
                  Chooj, I have had previous years of experience in the mortgage industry, so this is a topic I have expert knowledge in. You cannot get a TRADITIONAL mortgage while waiting for DA. You can get a traditional mortgage once you receive your work permit, however. With that, you will need to document that your work permit will be renewable once it expires, which on a u-visa, that should not be hard to prove as there is a long waiting period while on DA and it is one of the few immigrant visas that leads to a green card in the future. Please keep in mind in order to get your loan process started and get pre-approved to buy a house, your loan officer will need MOST recent 30 days of paystubs, at least 2 years personal/ business tax returns, at least 2 years employment history, your credit report with a credit score of no less than 580, MOST RECENT 2 months bank statements and 2 forms of IDs (one of which must be a valid Social Security Card).

                  With your work permit and the documents mentioned above, you may be able to get qualified for any traditional loan program, just like a green card holder/ US Citizen would. In today's market, there are loan programs that require only a down-payment as low as 1% on a Conventional loan program or as low as $100 down on a FHA loan program, keeping in mind that your particular loan scenario would have to meet the requirements of those loan programs. You do not need to put 20% down and you cannot use a ITIN # (or Tax ID) as a substitute for your Social Security Number , as per Trump and Mommy Dearest.

                  What is your U-Visa application date and what State are you located in?

                  Sorry to burst your bubble , I done it not once , did it four times , Social and Alien number + down payment .
                  None of those afther 2008 .

                  Comment


                  • #10
                    Originally posted by Trump View Post
                    Sorry to burst your bubble , I done it not once , did it four times , Social and Alien number + down payment .
                    None of those afther 2008 .
                    were you up front concerning your status ? did they knew that u did not have paper here in the country? i think the person waiting said if i can find a bank that will give me loan after i tell them concerning my status. Was u up front with the banks? Was you waiting for Da or already on DA?

                    Comment


                    • #11
                      Chooj, you cannot fool a lender regarding your immigration status... they will verify your social with Social Security Administration to ensure that it is valid and real. And if it says on your Social that "you are not eligible to work without DHS authorization", the lender will DEFINATELY request a copy of your work permit, green card or US naturalization certificate to prove that you have LEGAL residency in the US. And if your Social doesn't say that and you put on your loan application that you are a US citizen when you are not, the lender has ways to detect/verify that as well, so that will not work.

                      i would advise you to speak to an EXPERIENCED licensed Loan Officer at your local bank to verify what i am saying... you can be honest with your loan officer without consequence about your current immigration situation... just ask and the person will let you know if you could qualify for a mortgage at this time or not.
                      Last edited by Waiting; 04-26-2017, 07:12 AM.

                      Comment


                      • #12
                        Originally posted by Trump View Post
                        Sorry to burst your bubble , I done it not once , did it four times , Social and Alien number + down payment .
                        None of those afther 2008 .

                        Trump, what type of mortgage did you get approved for? Conventional? FHA?... And when was the last time have you applied for a home loan?

                        If you are referring to an era more than 2 years ago or at a time when lenders required little documentation/ verifications... i hate to tell you, but those days are long gone and they are not coming back anytime soon.. A lot of mortgage rules has changed and continues to change since the Financial Meltdown in 2008... Nevertheless, if you have gotten a mortgage in the last 2 years... well then... you should know better that it is not as simple to get a loan nowadays with just a "Social, A# and a down-payment", as you've put it.

                        And what A# are you referring to? EVERYONE on this forum has an A# based on their USCIS receipt notice, including the ones waiting for DA. Not because someone has an A# means that that person has LEGAL residency in the US, which is something EVERY lender is required to document and verify today via a work permit, green card, or US citizenship.
                        Last edited by Waiting; 04-26-2017, 06:58 AM.

                        Comment


                        • #13
                          Originally posted by Chooj View Post
                          Has anyone that is waiting to be put on DA applied for any loans here in the counrty of usa? I am tired of wasting money on rent. i want to buy a house and pay cheap mortgage while i wait
                          Depending on where you are from there are lenders that are willing to loan to immigrants. I know for a fact that there are specific companies that offer loans for housing mortgages to the Latino community especially if they have DACA. Considering the circumstances of U visa it is highly likely that they would consider an applicant. However things keep changing and getting more restrictive. Depending on the coming elections I would expect further changes.

                          As far as it goes with going to traditional lenders...I say don’t. Especially if you are working illegally. A lot of people have had their account frozen or it can open other cans of worms. I know U visa applications offer a lot of rope but you might be surprised what can come back to bite you when it comes time to adjust status. I always say stay away from anything that you have to lie about or commit any type of fraud.

                          By the way you don’t need to be a citizen to purchase a house in a lot of states. You also don’t need to be a resident. I don’t do loans so I am not certain but I would think that if you found a bank with branches in your home country you might be able to find a work around.
                          Last edited by Leah; 07-14-2019, 01:23 PM.

                          Comment


                          • #14
                            Originally posted by csharam.uc View Post
                            USCIS can't go and look after your financial affairs and they don't need to. A background check is the only thing they would do and you are not committing any crime you are taking a loan if your bank allows to. A typical home loan of 15-30 years would require you to be a green card holder or citizen at least. My loan company raised their eyebrows after they approved me for 36 months and my ead valid for only 24 months.. just saying.
                            One of my friend has bought a house on itin number here in Texas and he even got loan,no work permit no paper s.

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