Qualifying for a Conventional Mortgage with Different Immigration Statuses

Buying a home in the U.S. as a non-citizen is possible, and many immigrants can qualify for a Conventional mortgage with the right documentation. Whether you’re a permanent resident, a visa holder, or have another immigration status, here’s what you need to know about securing a mortgage.

Who Can Qualify for a Conventional Loan?

Conventional loans, backed by Fannie Mae and Freddie Mac, are available to various non-U.S. citizens, including:

• Permanent Residents (Green Card Holders)

• Non-Permanent Residents (Visa Holders) with Work Authorization

• DACA Recipients

• Refugees and Asylees

Permanent Residents (Green Card Holders)

If you have a valid Permanent Resident Card (Green Card), you are treated just like a U.S. citizen in the mortgage process. Lenders will look at your credit score, income, and debt-to-income ratio (DTI) just like any other borrower.

Non-Permanent Residents (Visa Holders)

Many visa holders can qualify for a mortgage, but they must meet specific requirements:

✔ Valid Visa Status – Common visa types accepted include H-1B, L-1, E-2, and O-1 visas.✔ Work Authorization (EAD or valid I-94) – Some lenders may require proof of employment continuity.✔ Two-Year Credit and Employment History – Just like U.S. citizens, lenders want to see stable income and a solid credit history.

DACA Recipients

In 2021, Fannie Mae confirmed that DACA (Deferred Action for Childhood Arrivals) recipients are eligible for Conventional loans. The key requirements include:

✔ Valid Employment Authorization (EAD Card)✔ U.S. Credit History – A good credit score helps improve approval chances.✔ Stable Income and Employment

Refugees and Asylees

Those granted refugee or asylee status are eligible for the same mortgage options as U.S. citizens. Typically, they will need:

✔ Form I-94 or I-551 (Green Card) as proof of status✔ Stable U.S. employment and credit history

General Mortgage Requirements for Non-Citizens

Regardless of immigration status, lenders will review:

• Credit Score – Most Conventional loans require a 620+ credit score.

• Down Payment – Typically 3-5% down for first-time homebuyers, but some non-citizens may need more.

• Debt-to-Income Ratio (DTI) – Usually 43% or lower is preferred.

• Employment & Income Stability – At least two years of steady employment is ideal.

Do You Need a Social Security Number (SSN)?

Yes, for most Conventional loans, a valid SSN or ITIN (Individual Taxpayer Identification Number) is required. Some other loan programs (like ITIN loans) may not require an SSN, but those are not Conventional loans.

What If You Don’t Qualify for a Conventional Loan?

If you don’t meet Conventional loan guidelines, other options exist:

• FHA Loans – More flexible credit and down payment requirements.

• Non-QM Loans – Designed for borrowers with alternative documentation.

• Foreign National Loans – Available for non-residents without a U.S. credit history.

Final Thoughts

Homeownership is possible for many non-citizens in the U.S. If you're unsure about qualifying, working with a mortgage expert can help navigate your options.

👉 Need guidance on financing your home? Contact me to explore your best mortgage options!