mortgage application and legal status

W

whiterabbit2

New Member
I wonder if somebody can be denied mortgage application because they are not US citizens but Green Card holders. Our application got stalled then cancelled when they were not satisfied with a copy of our Green card, claiming that we should have some non-existing 'visa' instead, justifying this claim that we were not citizens.

As I looked at the Federal Law digest, they have the right to inquire about the legal status. But the law doesn't seem to say anything if they can deny an application based on a citizenship (only national origin basis is prohibited). I also wonder if anybody has a link to California Equal Credit Opportunity law.
 
some people who used to work for me got home loans and they were from mexico ..goes without saying ..
 
They can deny your application if you're not a PR or a citizen, it's their right. Mortgage is a long term loan and they want amongst other things to see stability. Being here on a visa with a limited period of time that is very short relatively to the lifetime of the loan is not a positive thing in their eyes. However some banks (especially the big ones like Wells Fargo or BOA) do give loans to foreign citizens on H1B, it depends on your banker, underwriter, the bank policy and your own personal situation.

That said, since you're a green card holder - there should have been no problem whatsoever. If they're not satisfied with the actual green card, then they're indeed morons, take your business elsewhere.
 
I am a GC holder, and just got a mortgage for my first house 3 weeks ago. Everything went pretty easy. If you need a good mortgage guy I can refer one. Very good rates, depending on your credit score/histyory of course.
 
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