Recent government changes in immigration laws are preventing non-permanent resident aliens from qualifying for FHA & VA mortgage financing.
If you are a non-permanent resident alien hoping to buy a home but worried about the new changes to FHA eligibility, then there may be some alternative mortgage financing options available for you.
Here are some alternative options:
Conventional Loans
If you have a valid visa, income, and satisfactory credit, you may qualify for a conventional mortgage. These are common loans used by many homebuyers and often offer great terms without the extra fees that come with government-backed loans. And yes, these can be financed with a low down payment.
ITIN Loans
If you don’t have a Social Security Number, but file taxes with an ITIN (Individual Taxpayer Identification Number), there are loan programs that are more accommodating.
Other Flexible Options
Every borrower’s situation is different. Whether you’re self-employed, new to the U.S., or have a non-traditional income setup, we offer a variety of mortgage options that help to fill the gap. Give us a call at (760) 930-0569 to talk through your goals and find out which loan programs could work for you.