Can I Get a Mortgage Without Permanent Residency?

It is possible to obtain a mortgage in the U.S. without holding permanent residency, though specific conditions apply. This pathway to homeownership for non-permanent residents involves navigating distinct eligibility requirements and financial considerations. This article guides non-permanent residents through the process, outlining the criteria and steps involved in securing a mortgage.

Eligibility Criteria for Non-Permanent Residents

Eligibility for a mortgage without permanent residency requires a stable and verifiable immigration status that permits long-term residence and employment in the U.S. Mortgage opportunities are available to individuals holding non-immigrant visas, such as H-1B, L-1, O-1, E-1/E-2, and TN visas. Lenders often prefer the visa to be valid for at least one to two years beyond the mortgage approval date, or that there is a reasonable expectation of extension.

H-1B visa holders are frequently eligible for conventional mortgages. L-1 visa holders (intra-company transferees) and O-1 visa holders (extraordinary ability) can also secure mortgages. E-1 and E-2 visa holders (treaty trade or investment) can pursue mortgages, though some lenders may require two years of U.S. tax returns, especially for self-employed individuals. TN visa holders, professionals from Canada and Mexico under NAFTA/USMCA, can also obtain mortgages, with some lenders considering international credit history if U.S. credit is limited.

Deferred Action for Childhood Arrivals (DACA) recipients can qualify for certain mortgage programs, including conventional loans. They require a Social Security Number and an Employment Authorization Document (EAD) to demonstrate their legal right to work in the U.S.

Asylum seekers and refugees face a complex landscape. Some lenders may offer conventional mortgages to asylum seekers with an Employment Authorization Document and stable work history, but many are hesitant due to their temporary status. Refugees granted indefinite leave to remain may find it easier, while those with pending asylum or temporary protection status might encounter more restrictions. All non-permanent residents must demonstrate a legal right to reside and work in the U.S. for a foreseeable future, supported by documentation.

Key Financial and Documentation Requirements

Securing a mortgage as a non-permanent resident requires meeting specific financial prerequisites and providing comprehensive documentation. Lenders scrutinize credit scores, typically looking for a minimum FICO score of 620 for conventional loans. Establishing a U.S. credit history is important, often requiring at least 12 months of credit activity and several open credit accounts.

Income stability is a key factor, with lenders requiring proof of consistent employment for at least the past two years. This includes recent pay stubs, W-2 statements, and U.S. tax returns for the last two years. If income is earned in a foreign currency or from a foreign employer, additional documentation like foreign tax returns, proof of continued employment, and currency conversion calculations are necessary. All foreign documents should be translated into English.

Down payment requirements for non-permanent residents can be higher than for U.S. citizens, often ranging from 10% to 30% or more, depending on the loan type and lender’s risk assessment. A larger down payment can help offset perceived risk and may lead to more favorable loan terms. Lenders will also verify the source of down payment funds, typically requiring bank statements for the past 60 days.

Beyond financial metrics, documentation is needed to verify legal status. This includes a valid passport, current visa, and Form I-94 Arrival/Departure Record. An unexpired Employment Authorization Document (EAD) is often required, particularly for those on temporary statuses like DACA or asylum. If a visa or EAD is nearing expiration, lenders may ask for proof of renewal application or a letter from the employer confirming the intent to extend employment.

An employment verification letter from the U.S. employer, printed on company letterhead, is also requested. This letter should confirm the applicant’s job title, employment status, start date, and annual salary. It assures the lender of continued employment and income.

Mortgage Programs and Lender Considerations

Non-permanent residents have several mortgage programs they can explore, though the landscape has recently shifted for some government-backed options. Conventional loans, which adhere to Fannie Mae and Freddie Mac guidelines, are often available. These government-sponsored enterprises (GSEs) allow mortgages for non-U.S. citizens who are lawfully present and possess a Social Security Number or ITIN. Lenders offering conventional loans assess the borrower’s legal presence, employment history, and creditworthiness, similar to U.S. citizens, often requiring a minimum credit score around 620.

A significant change occurred in May 2025, when the Federal Housing Administration (FHA) updated its guidelines, making non-permanent residents generally no longer eligible for FHA-insured mortgages. This means individuals with temporary legal status, such as H-1B visa holders, DACA recipients, or asylum seekers, are typically excluded from new FHA financing unless they have a clear path to permanent residency. This policy change was intended to prioritize U.S. citizens and lawful permanent residents for federal benefits.

VA loans, backed by the Department of Veterans Affairs, are designed for eligible service members, veterans, and their spouses. Non-citizens can qualify for VA loans if they meet military service requirements and obtain a Certificate of Eligibility. Their immigration status generally does not impose additional residency documentation for these loans.

Beyond conventional loans, “portfolio lenders” offer more flexible programs that fall outside standard agency guidelines. Portfolio loans are held by the lender rather than being sold on the secondary market, allowing for greater discretion in underwriting. This can benefit non-permanent residents who may not perfectly fit conventional criteria due to factors like limited U.S. credit history or specific visa circumstances.

Identifying lenders experienced with non-permanent resident borrowers is a key step. Many larger banks may have stricter internal policies, while some smaller or specialized mortgage companies actively work with this demographic. Seeking mortgage brokers who specialize in foreign national loans can also streamline the process, as they often have relationships with lenders offering suitable programs. These specialized lenders understand the unique documentation and eligibility criteria for non-permanent residents, offering a more tailored approach to home financing.

The Application and Approval Process

The mortgage application and approval process for non-permanent residents largely mirrors that for U.S. citizens, but with additional scrutiny on immigration status and income stability. The initial step is pre-approval, where the applicant provides financial information to a lender. This allows the lender to determine a preliminary loan amount and provides a pre-approval letter, valuable when making offers on properties and demonstrating serious intent to sellers.

Once a property is identified and an offer is accepted, the formal application is submitted. This involves providing all gathered documentation, including identity and immigration papers, income verification, and asset statements. The lender then moves to the underwriting phase, where all provided information is reviewed. Underwriters assess the borrower’s creditworthiness, income consistency, and legal status to determine the level of risk. They pay close attention to the validity of visas or EADs and the likelihood of continued employment in the U.S.

During this period, the lender will order an appraisal of the property to ensure its value supports the loan amount. An appraiser, typically selected by the lender, evaluates the home’s condition, features, and comparable sales in the area to determine its market value. This step is crucial as the loan amount ultimately depends on the appraised value.

Upon successful underwriting and appraisal, the loan moves towards closing. This is the final stage where all parties sign the necessary legal documents, including the promissory note and mortgage deed. Funds are disbursed, and the property title is transferred to the buyer. While procedural steps are consistent, non-permanent residents should anticipate that their immigration documents and employment stability will undergo more rigorous verification throughout each stage compared to U.S. citizens.