Can I get a mortgage if I am a non-permanent resident? – The short answer: YES. Many lenders will provide home loans to non-permanent residents of the U.S. , it is just a matter of knowing the rules at each to fit the borrower’s needs. Generally you will be expected to have:
- been working in the U.S. for at least two years,
- have some reasonable expectation of continued employment in the U.S.,
- have a social security number, and
- U.S. credit score, and often
- have filed taxes in the U.S. for the past two years.
However, if you don’t have a U.S. Credit (FICO) score, or you have not been working for two years – then we would guide a prospective homeowner to lenders that have different guidelines. FHA loans are available provided that the the property will be the borrower’s principal address, and the borrower is eligible to work in the United State as evidenced by an Employment Authorization Document issued by the USCIS… Not all H1-B Visa holders hold an EAD.
I have been in the U.S. less than one year? Again, it’s just about working together to figure it out your needs. We have lots of experience in California, and with technology workers who often times are here with H1-B or other visa types…. There are a few lenders that will make a loan for recently arrived workers, thus no need for U.S. work history. But, you will just need an offer letter to work in the U.S. and a 12 month alternative credit history (foreign OK).