Posted on: 06th Oct, 2005 03:17 am
Do I have to be a U.S. citizen to get approved for a home loan in US?
Hi Robert,
Welcome to the MortgageFit Forums.
You can definitely get a home loan in the U.S even if you are not a U.S citizen. If you can show the lender that your work permit has been renewed 2-3 times then it will not be a problem. What lenders want to see is that you have been in the country for 4-5 years. And on top of that if you are able to convince them that you have already applied for the US citizenship then it will definitely become a lot easier.
Moreover, if your debt to income ratio is quite satisfactory and you have a good credit score then you can easily acquire loans in the U.S. So do not worry. Just go ahead and talk to lenders about your income and credit history so that they can provide you with the best loan offers available. Shop around to find out the lender who is ready to offer you the mortgage of your choice. It will no doubt take some time, but then it will also help you to get reasonable rates on your home loan.
My best wishes are with you.
Thanks,
Samantha
Welcome to the MortgageFit Forums.
You can definitely get a home loan in the U.S even if you are not a U.S citizen. If you can show the lender that your work permit has been renewed 2-3 times then it will not be a problem. What lenders want to see is that you have been in the country for 4-5 years. And on top of that if you are able to convince them that you have already applied for the US citizenship then it will definitely become a lot easier.
Moreover, if your debt to income ratio is quite satisfactory and you have a good credit score then you can easily acquire loans in the U.S. So do not worry. Just go ahead and talk to lenders about your income and credit history so that they can provide you with the best loan offers available. Shop around to find out the lender who is ready to offer you the mortgage of your choice. It will no doubt take some time, but then it will also help you to get reasonable rates on your home loan.
My best wishes are with you.
Thanks,
Samantha
Hi,
I as per i know Robert you can get a loan if you are residing outside US and there are many lenders too. Even you can get a lon from international banks also.
Thanks
I as per i know Robert you can get a loan if you are residing outside US and there are many lenders too. Even you can get a lon from international banks also.
Thanks
Hi Robert,
What Samantha and Niicss have suggested is absolutely correct.
You need not be a U.S. citizen to be approved for a loan. If you are NOT a US citizen, then you may be asked to provide with a copy of your green card (front & back) by the lenders or, if you are NOT a permanent resident then your H-1 or L-1 Visa will also do.
Hope this information will be helpful to you.
Regards,
Blue
What Samantha and Niicss have suggested is absolutely correct.
You need not be a U.S. citizen to be approved for a loan. If you are NOT a US citizen, then you may be asked to provide with a copy of your green card (front & back) by the lenders or, if you are NOT a permanent resident then your H-1 or L-1 Visa will also do.
Hope this information will be helpful to you.
Regards,
Blue
I'm on an L1 visa since Dec 2006. I would like to buy a property. Given the credit issue, conventional lenders suggest that I should use FHA instead.
I already have my SSN card and a state drivers licenses.
Do I qualify for a FHA Insured Mortgage?
Mzale
I already have my SSN card and a state drivers licenses.
Do I qualify for a FHA Insured Mortgage?
Mzale
Lenders ask for recent bank statements, pay stub, picture identification and proof of social security number while a person applies for a loan. As you have received your SSN, should not have any problem in qualifying for an FHA insured loan. That said, you will have to meet other criterion set by the lender for an approval like your income, debt, etc.
Mzale,
If you have good cash reserve for closing the loan, steady income for making monthly loan payments and would be residing in the property then getting approved for an FHA insured mortgage will not be difficult.
Plus that you have got the SSN card and a state driver license.
If you have good cash reserve for closing the loan, steady income for making monthly loan payments and would be residing in the property then getting approved for an FHA insured mortgage will not be difficult.
Plus that you have got the SSN card and a state driver license.
Welcome Mzale,
What's your credit score? I am just asking this because may be it's not fair enough to qualify for conventional loans. Perhaps that is why lenders have suggested that you go for FHA insured loans instead of conventional loans.
What's your credit score? I am just asking this because may be it's not fair enough to qualify for conventional loans. Perhaps that is why lenders have suggested that you go for FHA insured loans instead of conventional loans.
Mzale, the lender offering FHA insured loan looks into your overall payment history especially for the past one year, and reviews your rental bills and other debt payments.
Besides, the FHA will also consider the credit inquiries and judgments that you have come across. Also, your debt-to-income ratio plays a major role in evaluating your ability to qualify for an FHA loan.
Credit score isn't the primary factor for fha loan, hence the lender has advised you not to consider conventional loans as a viable option.
Besides, the FHA will also consider the credit inquiries and judgments that you have come across. Also, your debt-to-income ratio plays a major role in evaluating your ability to qualify for an FHA loan.
Credit score isn't the primary factor for fha loan, hence the lender has advised you not to consider conventional loans as a viable option.