Green Card Requirements

[RNGrad2006]

I am thankful to be in the US but recently we put an offer in on a house. We thought it would help to have our I-140 approved but now that the lending practices are so tight we had our deal fall through. We were basically told no green card, no loan. We told our lender up front we did not have a green card but in the end they blamed us for non disclosure. So for us that means no house even with a really generous down payment. It has become that bad in this economic crisis. So contrary to some posts in this forum that the green card doesn't give a person any privileges that is really not the case. It is frustrating since we applied in 2007 and likely won't get anywhere closer to getting one for another 3-4 years. It seems unfair that the mistakes of others are basically becoming our problem too. We waited years to get into a position to buy a home and now are unable to realize our dream.

[traumaRUs, MSN, APRN]

Hopefully, I can interject that our economy is getting so bad, few people, citizens or not, can get loans. Maybe in the next couple of years, our economy will get better but most of us in the trenches are seeing our lifestyle get worse, not better.

[NurseCubanitaRN2b, BSN, RN]

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 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.

Actually if you reread my post, I specifically stated that I wasn't pointing the finger at the poster. I was speaking in general, and since I was in the laon business I was trying to make things clearer regarding high risk loans. That's how most lenders (not mortgage officers/brokers/consultants) call it. So no, I wasn't making any incorrect assumptions. I never stated that the posters visa and social security were not valid. I was just shying some light on what I've seen. I can go into more detail if you'd like, but that's a whole different message board.

[RNGrad2006]

Thanks to those of you who responded. I have found (through some digging) that it does depend on the lender and more specifically if the lender funds their own loans. So Freddie/Fanny loans are not in the picture because they require a green card now. But other loans are still possible and even non FHA types. But a credit score above 700 and 30% down is definitely a must. But luckily for us that should be possible. I will keep you all posted.

[NurseCubanitaRN2b, BSN, RN]

Thanks to those of you who responded. I have found (through some digging) that it does depend on the lender and more specifically if the lender funds their own loans. So Freddie/Fanny loans are not in the picture because they require a green card now. But other loans are still possible and even non FHA types. But a credit score above 700 and 30% down is definitely a must. But luckily for us that should be possible. I will keep you all posted.

If you can have your mortgage officer find you a "lender" that will do it, then that's great. But just becareful that they don't exhaust your application. That is what I was trying to warn you about in a previous post. Also please be aware that sometimes mortgage officers will get money back if they put you in certain loans, and they sometimes try to stay away from certain loans because they don't get a big enough rebate. That could be a reason why. It might not be that they can't find you a loan, they probably just know it's going to take more work for them and less money they will make. But good luck, I hope you're able to find a lender that will help you!