getting a mortgage

O

olaosunt

Registered Users (C)
Hadron and any others
I am trying to obtain a mortgage and the bank is asking for proof of permanent residency.I have an I140 approved for NIW(VA),with 485 pending.Does any one have any experience with this issue?.Do you think I can submit these documents.I know it does not quite add up to a "green card"
but does that mean I will not be able to buy a house for the next 5 years :confused:
 
I had the same kind of problem five years ago when i bought my house.They want to make sure you are not leaving the country in few months that's why they are looking for your permanency in this country. Let them contact with your attorney(if you have one)if you don't have provide them any kind of doc.showing your case is still pending.If you have a good credit score you will get it.

Good Luck
 
i agree , usually as long as your credit score is good , its not a problem, also being a physician helps, it also helps if u put 20% downpayment.
 
When I had applied for my first mortgage 6 years ago, I had then shown them a copy of approved I-140 and pending NIW application. Chase Manhattan had then approved my loan.
Good luck..
 
They wanted only legal status valid 3 months beyond!

When we got a Mortgage Loan, all they asked for was a legal status i.e. H1B and validity extending to beyond 3 months of anticipated closing date. The process was started in Oct 2004, and we closed in April 2005 after our house was costructed.

I did not even have an I140 application pending at that time, because LC was pending. And, I know that other friends on J-waivers also got their mortgages before me - they also had barely started LC process at that time.

We went thru Sallie Mae Home Loans, who have offices in Phoenix and Detroit. But, initial contact was thru LendingTree.com. And, we got fairly good rates, favorable terms and less than 20% down - with a second Mortgage, whose interest payments are also tax deductible!
 
Last edited by a moderator:
Thanks for all your help guys.
I have gone ahead and submitted my H-1B ,approved 1-140 and pending 1-485 plus my wife's EAD.Hopefully that will be okay,but if not ,I am sure I can take donations on this forum and raise 20% of the mortgage,then they will not really care if I swam across the ocean to get here. :rolleyes:
 
Big name banks (WellsFargo, Wash Mu, B of A, etc.) will want some proof of your permanent residence. They will not accept substitutes. Smaller lenders could care less, especially if your credit score is good and while the housing market is still somewhat strong. I went through lendingtree.com and got connected to lenders who only wanted proof of employment and H-1b status. Hope this helps.
 
You must log in or register to reply here.
Top