Green Card Requirements

Ginger's Mom, MSN, RN · Oct 20, 2008

I am confused how are you working here legally without a green card? Sorry to hear about you not getting a morgage, but I wonder if the bank is concerned how you would pay the loan without a means of income.

RNGrad2006 · Oct 20, 2008

I am confused how are you working here legally without a green card? Sorry to hear about you not getting a morgage, but I wonder if the bank is concerned how you would pay the loan without a means of income.

I am very much legal and very much working (not like you made assumptions)....no the banks have tightened for a lot of reasons. But I have read that a lot of illegals are foreclosing now who don't have green cards so why not treat everyone the same. Just like my kids didn't get a stimulus check because they don't have SSN's even though we have paid taxes like everyone else for years. I came to the US on a TN and applied for the green card in 2007 but it won't be issued for years to come.

Silverdragon102, BSN · Oct 20, 2008

I am confused how are you working here legally without a green card? Sorry to hear about you not getting a morgage, but I wonder if the bank is concerned how you would pay the loan without a means of income.

There was a small window when you could apply for AOS as long as you met requirements and although didn't get a GC straight away you do get EAD which is renewed annually (I think there was talk of changing to 3 years) while waiting to go through the process

To the OP I am sorry you are going though some problems and a shame that some bad apples makes it harder for others

allnurses Guide · Oct 20, 2008

Find a new lender. I know several people on working visas who have managed to get mortgages, albeit with a larger downpayment.

Ginger's Mom, MSN, RN · Oct 20, 2008

I am very much legal and very much working (not like you made assumptions)....no the banks have tightened for a lot of reasons. But I have read that a lot of illegals are foreclosing now who don't have green cards so why not treat everyone the same. Just like my kids didn't get a stimulus check because they don't have SSN's even though we have paid taxes like everyone else for years. I came to the US on a TN and applied for the green card in 2007 but it won't be issued for years to come.

Sorry to hear about not getting a home, was we got our initial loan in the 1980 it was very hard to get a loan. First check out you credit score, hopefully it is very high. Also you have only 2 years of RN pay, as you earn more your chance to get a loan will increase. Go to a local bank, a bank that will not sell your loan ask to speak to the loan officer, ask what steps you can take now in lieu of a green card.

Things are crazy, last year you could have had no income and bought a house, but you were responsible and got screwed. I would point that out to the bank. Every one's credit is effected not only you, I am sorry I would be very disappointed. My son lives in Tempe and the cost of living is very cheap compared to the northeast.

NurseCubanitaRN2b, BSN, RN · Oct 20, 2008

I did loans for years, and I can tell you that if you got a loan w/o a social security number it's because you have more than a 30% down payment....If you know of someone who obtained a loan w/o a social security number with a lower down payment it's because someone falsified documents in order for you to get a home. I'm not pointing the finger at you, I'm just telling you what was done in the past in general.

I've always had clients with valid social security numbers and who were legal residents or citizens of the US. If there were questionable people I'd refer them to someone else because I didn't want to falsify any documents in order ot make money.

I'm sorry that you're having to go through this but in the past they didn't ask for a green card. With the economy the way it is I don't blame the lenders for wanting the green card. The reason being is that if you don't have a green card, they will assume that if you can't make your house payment that you're going bail and go back to your home country, which in return you'll abandon the loan. That's their reason for requiring the green card, they will assume you are a permanent resident. Do you have it in writing that you told them that you didn't have a green card? If not, then sorry it's not going to fly. They will side with the loan officer/broker. Always make sure that you get everything in writing. I can tell you that it would be useless for you to go to another loan officer/broker because your loan application is out there. They submitted it to several banks for approval. If all of them turned your loan down due to no green card, chances are if you go to another loan officer the same banks are going to see your application and it will get denied again for the same reasons. I've had people come to me from another loan officer and when I went to submit their loan application, they already had red flags because it was submitted previously, the loan was great before, but someone was giving them bad information and therefore they walked away from a perfectly good loan. For example, Wells Fargo was going to give them 5.6% interest rate before with the previous lender, and when they came to me Wells Fargo was going to give them 5.85% interest rate because of the application submitted before. The advantage was that closing costs for the buyer was going to be $5,500 for a 550K loan. With the previous loan officer the closing costs was going to be 12K and all their junk fees included...So that's how it goes in the loan business. So even if you do go with another lender chances are slim right now for you. Your best bet is to wait unless you have a loan officer who will guarantee you that they can find you a loan for people w/o green cards. Good Luck.

suzanne4, RN · Oct 21, 2008

The issue is that with the green card, they know that one can remain in the US indefinitely in most cases. With any type of visa or treaty visa, then things can change and they do. More so with the temporary visa rather than the TN Visa.

Green cards still do not give all rights to the individual, it is only proof that one has been approved to permanent residency status. But having a green card by no means does anything else than that.

Example: If a green card is not renewed and does expire, then the holder is subject to being deported the same as anyone here illegally. They can still be deported for crimes as well and not permitted to return to the US ever.

Until one has actual citizenship here, there is no coverage for anything as one is still considered a guest in this country.

Sorry that you are having to go thru all of this, but I would definitely look for another lender. And best of luck to you.

RNGrad2006 · Oct 21, 2008

I did loans for years, and I can tell you that if you got a loan w/o a social security number it's because you have more than a 30% down payment....If you know of someone who obtained a loan w/o a social security number with a lower down payment it's because someone falsified documents in order for you to get a home. I'm not pointing the finger at you, I'm just telling you what was done in the past in general.
I've always had clients with valid social security numbers and who were legal residents or citizens of the US. If there were questionable people I'd refer them to someone else because I didn't want to falsify any documents in order ot make money.
I'm sorry that you're having to go through this but in the past they didn't ask for a green card. With the economy the way it is I don't blame the lenders for wanting the green card. The reason being is that if you don't have a green card, they will assume that if you can't make your house payment that you're going bail and go back to your home country, which in return you'll abandon the loan. That's their reason for requiring the green card, they will assume you are a permanent resident. Do you have it in writing that you told them that you didn't have a green card? If not, then sorry it's not going to fly. They will side with the loan officer/broker. Always make sure that you get everything in writing. I can tell you that it would be useless for you to go to another loan officer/broker because your loan application is out there. They submitted it to several banks for approval. If all of them turned your loan down due to no green card, chances are if you go to another loan officer the same banks are going to see your application and it will get denied again for the same reasons. I've had people come to me from another loan officer and when I went to submit their loan application, they already had red flags because it was submitted previously, the loan was great before, but someone was giving them bad information and therefore they walked away from a perfectly good loan. For example, Wells Fargo was going to give them 5.6% interest rate before with the previous lender, and when they came to me Wells Fargo was going to give them 5.85% interest rate because of the application submitted before. The advantage was that closing costs for the buyer was going to be $5,500 for a 550K loan. With the previous loan officer the closing costs was going to be 12K and all their junk fees included...So that's how it goes in the loan business. So even if you do go with another lender chances are slim right now for you. Your best bet is to wait unless you have a loan officer who will guarantee you that they can find you a loan for people w/o green cards. Good Luck.

Thanks for your input in the way things are done...it is so different than from where we came...nothing like this is done in Canada...everything IS controlled by the government. We have been in the US since 2000 and have a great credit score and were willing to put down 30% for a 430,000 purchase. We told the bank and I do have in writing that we are in I-485 pending status. I asked way before any application was put in if we could get a loan without a green card and that it would take years to get one but that we were just waiting for a number and that our petition had been approved. Unfortunately the mortgage consultant had no idea what I was talking about and assumed I meant our green card was approved even though I repeatedly told her that it would take years to get the actual green card. It is unfortunate that their error prior to things getting this far may be looked upon as a red flag. Yes, a few years ago we could have qualified easier but we did the prudent thing in waiting until our financial picture was better and now it is almost impossible even though we did things the right and legal way all the way through. It is very frustrating. I don't see how lenders are scared off by someone who is going to do everything they can to stay in the country because if we don't do everything right we risk losing the chance at the green card. A friend qualified easily for a loan just last Spring and she is just on a TN which way less secure if they are concerned about a default on the loan and she only put 10% down. Amazing how things have changed in such a short time. Thanks again.

RNGrad2006 · Oct 21, 2008

The issue is that with the green card, they know that one can remain in the US indefinitely in most cases. With any type of visa or treaty visa, then things can change and they do. More so with the temporary visa rather than the TN Visa.
Green cards still do not give all rights to the individual, it is only proof that one has been approved to permanent residency status. But having a green card by no means does anything else than that.
Example: If a green card is not renewed and does expire, then the holder is subject to being deported the same as anyone here illegally. They can still be deported for crimes as well and not permitted to return to the US ever.
Until one has actual citizenship here, there is no coverage for anything as one is still considered a guest in this country.
Sorry that you are having to go thru all of this, but I would definitely look for another lender. And best of luck to you.

True enough but the bottom line is that if we had green cards already this process would be easier right now and we learned that the hard way.

RNGrad2006 · Oct 21, 2008

Find a new lender. I know several people on working visas who have managed to get mortgages, albeit with a larger downpayment.

I think those days are gone. I have been in touch with someone since last Spring and got a response today that they too require the green card now as a minimum standard. I don't think it varies that much with lender anymore since they are all facing the same restrictions due to the tough economic crisis the country and world are facing right now.

allnurses Guide · Oct 21, 2008

I did loans for years, and I can tell you that if you got a loan w/o a social security number it's because you have more than a 30% down payment....If you know of someone who obtained a loan w/o a social security number with a lower down payment it's because someone falsified documents in order for you to get a home. I'm not pointing the finger at you, I'm just telling you what was done in the past in general.

You are making incorrect assumptions here. I don't know who you're directing your post too but for example, I don't have a green card, but I do have a valid work visa and social security number.

I think those days are gone. I have been in touch with someone since last Spring and got a response today that they too require the green card now as a minimum standard. I don't think it varies that much with lender anymore since they are all facing the same restrictions due to the tough economic crisis the country and world are facing right now.

I belong to more than one expat group, and people have recently got mortgages, so I don't think the days are gone. It's just more difficult now.