I right now have my I-140 approved and have applied for by EAD and H1 visa expires(6year term) in July this year. I have also applied for extention of my H1 Visa. I just want to know if it is worth taking the risk of buying a house now or is it worthwhile to wait atleast till my EAD gets approved or H1 renewed? Thank you for your advice/suggestions in advance.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Buying a house
- Thread starter manikv
- Start date
Why not?
What is your concerns about it?Once your i140 was approved I don't see any reason for not to buy...You don't need to be legal in USA to buy a house.
We bougth ours almost 2 years ago and our I 485 is still pending.
Actually we are on our 3rd EAD and I am the primary applicant.
My husband has his own small business for the last 3 1/2 years and we are just waiting to be approved to our dream come true.
Good lucky!
What is your concerns about it?Once your i140 was approved I don't see any reason for not to buy...You don't need to be legal in USA to buy a house.
We bougth ours almost 2 years ago and our I 485 is still pending.
Actually we are on our 3rd EAD and I am the primary applicant.
My husband has his own small business for the last 3 1/2 years and we are just waiting to be approved to our dream come true.
Good lucky!
PrinceofJungle
New Member
I believe manikv has concerns about if anything went wrong then what will happen with home?.
ofcourse buying house have nothing to do and effect on pending pettitions I agreed with it..
Its upto you if you are planning to stay here with family permenantly then it would be wise decision at this time to have a house.....
good luck
ofcourse buying house have nothing to do and effect on pending pettitions I agreed with it..
Its upto you if you are planning to stay here with family permenantly then it would be wise decision at this time to have a house.....
good luck
leroythelion
Registered Users (C)
Originally posted by manikv
I right now have my I-140 approved and have applied for by EAD and H1 visa expires(6year term) in July this year. I have also applied for extention of my H1 Visa. I just want to know if it is worth taking the risk of buying a house now or is it worthwhile to wait atleast till my EAD gets approved or H1 renewed? Thank you for your advice/suggestions in advance.
I concur with the other posters who answered your questions. However, your H1 renewal will probably be a problem. The same thing happened to me a few years ago. My bank refused to underwrite the mortage until they saw the appoval notice. Receipt was not good enough. The fact I had an approved I-140 didn't mean a thing to them. I didn't have an EAD as I went CP. Your bank may have a different policy.
Brian
I am also thinking about buying
My first time H1B will expire May 2005. An extension will be applied in due time. What do banks actually want to see if I apply for a loan? If they see that I have one year left in my current H1B, will they refuse? Do they really check ones residency status?
My first time H1B will expire May 2005. An extension will be applied in due time. What do banks actually want to see if I apply for a loan? If they see that I have one year left in my current H1B, will they refuse? Do they really check ones residency status?
leroythelion
Registered Users (C)
Re: I am also thinking about buying
One of the questions on the loan application is "Are you a US Citizen?" Everything goes downhill from there. I would think only the most conservative of loan officers will have trouble with 2005. They have a checklist and must fill all the boxes before approving the loan.
Brian
Originally posted by Ari2002
My first time H1B will expire May 2005. An extension will be applied in due time. What do banks actually want to see if I apply for a loan? If they see that I have one year left in my current H1B, will they refuse? Do they really check ones residency status?
One of the questions on the loan application is "Are you a US Citizen?" Everything goes downhill from there. I would think only the most conservative of loan officers will have trouble with 2005. They have a checklist and must fill all the boxes before approving the loan.
Brian
I Have Patience
Registered Users (C)
Manik,
You also need to consider how stable your job is!!.Not trying to scare you, but until the adjustment of status does come in-if anything happens to your job or you come on bench etc, then paying mortgage might be a problem.Mortgage Companies are notorious for calling foreclosures is such a light of situation.Do evaluate your finances and stability concerns thoroughly.
You also need to consider how stable your job is!!.Not trying to scare you, but until the adjustment of status does come in-if anything happens to your job or you come on bench etc, then paying mortgage might be a problem.Mortgage Companies are notorious for calling foreclosures is such a light of situation.Do evaluate your finances and stability concerns thoroughly.
Last edited by a moderator:
leroythelion
Registered Users (C)
Re: Re: Re: I am also thinking about buying
I think it matters for tax purposes. The next question was "are you a permanent resident?", H1B, etc.... If you are classified a "foreign person", any proceeds from a sale will have an automatic tax withholding until 1040 time to ensure there is no capital gains tax owed. US tax residents are not considered foreign people.
I don't think it is illegal. I see this question asked on credit card applications.
Brian
Originally posted by JoeF
And the first thing I would ask is why they want to know...
It is none of their business, and actually asking that question may be illegal.
They should only be interested in your credit rating.
I think it matters for tax purposes. The next question was "are you a permanent resident?", H1B, etc.... If you are classified a "foreign person", any proceeds from a sale will have an automatic tax withholding until 1040 time to ensure there is no capital gains tax owed. US tax residents are not considered foreign people.
I don't think it is illegal. I see this question asked on credit card applications.
Brian
Murtaza Hathiwala
New Member
So,the question/concern I have here is my H1B max 6yrs restrictions has been lifted with I-140 approval. still have decade wait time for PD to be current for eligibility to file EAD/I-485 under EB3 category for India. Until then H1B can be indefensibly renewed.However, if one looses job before PD dates become current and never had a chance to file EAD/I485 then how much time I fhave to find new H1B Sponsor who's filling to port PD? what are other options?
Thanks
MH
Thanks
MH