Buy a new house

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atllab

Registered Users (C)
Hi! Guys and Gals,

I am thinking to buy a new house...I am working on EAD..I spoke to couple of agents and they are saying that since I don't have green card or U.S. citizenship, the rate of interest will be higher than what is current...In other words, I will have to take "Tax Id" loan instead of conventional...

My question:

Is this true that I will have to pay higher rate of interest?

Some of you might have bought house and may or may not encountered this problem...

Could you please shed light on this...I will really appreciate your answers...

Thanks,

Eb3 India Sept. 2002,
I140/I485 Oct. 8 , 2004
I140 approved = Feb. 18, 2005
I485 approved date == ???????? LUD changed May4, 2005 after FP, Lud changed July 1, 2005, July 5,2005.
FP = May3, 2005 (code 3)
EAD1 RD = Oct. 8,2004 Approved November 10,2004
AP1 RD = Oct. 8,2004 Approved November 16,2004
EAD2 RD = Sep. 1,2005 Approved September 8,2005
AP2 RD = Sep. 1,2005 Approved September 9,2005
 
Atllab- I don’t think that true. I am also working on EAD from about 2 years. I just brought a new home 10 months back. I didn’t pay anything. In fact I even got a very good rate and free closing costs. Find out if the builder has any deals, going through them make easy and they will pay your closing costs.
All the best!!!
 
shas123,

Thanks for your reply..Could you please tell me where did you get your loan (if you don't mind)?
 
I bought a house on H1B

atllab said:
Hi! Guys and Gals,

I am thinking to buy a new house...I am working on EAD..I spoke to couple of agents and they are saying that since I don't have green card or U.S. citizenship, the rate of interest will be higher than what is current...In other words, I will have to take "Tax Id" loan instead of conventional...

My question:

Is this true that I will have to pay higher rate of interest?

Some of you might have bought house and may or may not encountered this problem...

Could you please shed light on this...I will really appreciate your answers...

Thanks,

Eb3 India Sept. 2002,
I140/I485 Oct. 8 , 2004
I140 approved = Feb. 18, 2005
I485 approved date == ???????? LUD changed May4, 2005 after FP, Lud changed July 1, 2005, July 5,2005.
FP = May3, 2005 (code 3)
EAD1 RD = Oct. 8,2004 Approved November 10,2004
AP1 RD = Oct. 8,2004 Approved November 16,2004
EAD2 RD = Sep. 1,2005 Approved September 8,2005
AP2 RD = Sep. 1,2005 Approved September 9,2005
Click to expand...
Thats partially true, I bought a house when I was on H1b. Now here what happened, there are some policies with some of the mortgage companies. for example in my case I had to show them proof that I can stay in US for another 3 years legally. but if you are on EAD that is even better than H1b. So I guess you need to check with couple of Mortgage companies about their policies.
gckajadoo
 
atllab, Your mortgage agents are giving you a bunch of baloney. I bought my house back in 2002 when I had just filed for my labor. They mortgage banker did not even bring that discussion up, I had to explain to him that he "needs" my I-94 for his records to show that I am legally staying here. He could not have cared less.
 
new House on EAD

I am in process of buying new house. Even My loan company was gave hard time but finally they approved my loan. I am working on same company as Loan Company. I am moving new house on May 2005.

I am little concern about My EAD. So thinking twice to buying new furniture, Plasma TV?
 
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