More anti-immigrant stuff
- Thread starter Superho
- Start date
Superho said:
I remember clearly, in 1995 when I've purchased my first house, it was a question in the loan docs asking: "Are you an US citizen?"
So, this is not new, maybe is new for Iowa, but in California, as far as I know, based on my own experience, it is at least 11 years old.
harvydonald
Registered Users (C)
I bought my house when I was on H1B. The mortgage broker asked me to check "US Citizen" line item, stating that it would make things easier for me..I refused and got my house mortgate approved anyway.
Most banks have a policy of "no documentation loan" when you are willing to put 30% of the house value down as cash. This means no credit check, no immigration question...etc.
the Iowa banks won't be able to loan you....but you can get mortgage from banks outside Iowa and still purchase a house in Iowa....
Most banks have a policy of "no documentation loan" when you are willing to put 30% of the house value down as cash. This means no credit check, no immigration question...etc.
the Iowa banks won't be able to loan you....but you can get mortgage from banks outside Iowa and still purchase a house in Iowa....
From the article:
"A member of Iowa's state legislature last week introduced a bill prohibiting mortgage loans to borrowers who are not U.S. citizens or permanent residents under federal law."
More bureaucratic and parochial idiocy. As JoeF points out, what about people on non-immigrant visas that are here for several years at a stretch? Why should they be denied building equity during their stay? Or, more importantly, helping out the US banking system by making interest payments and buoying the economy?
In my case, I was legally present in the USA for 10 years on an O-1 visa, during which time my wife and I bought a house. (O-1s have an initial 3-year validity and are renewable in 1-year increments). So, I was legally present, but not a citizen or permanent resident. I assisted the US economy by paying interest. Every mortgage form I filled in (CA) aked if I was a CZ or LPR, to which I always answered no, but included copy of my O-1 and a letter from my immigration attorney explaining what an O-1 is.
Once we had our green cards, we refinanced our home and mysteriously got a much better interest rate.
"A member of Iowa's state legislature last week introduced a bill prohibiting mortgage loans to borrowers who are not U.S. citizens or permanent residents under federal law."
More bureaucratic and parochial idiocy. As JoeF points out, what about people on non-immigrant visas that are here for several years at a stretch? Why should they be denied building equity during their stay? Or, more importantly, helping out the US banking system by making interest payments and buoying the economy?
In my case, I was legally present in the USA for 10 years on an O-1 visa, during which time my wife and I bought a house. (O-1s have an initial 3-year validity and are renewable in 1-year increments). So, I was legally present, but not a citizen or permanent resident. I assisted the US economy by paying interest. Every mortgage form I filled in (CA) aked if I was a CZ or LPR, to which I always answered no, but included copy of my O-1 and a letter from my immigration attorney explaining what an O-1 is.
Once we had our green cards, we refinanced our home and mysteriously got a much better interest rate.
GreenCardVirus
Registered Users (C)
JoeF said:
Same case here. I have been getting numerous pre-approved offers from Discover for past 3 years. I dont think I will apply.
a voice from iowa...
funny thing is, iowa has been one of the most liberal states in granting home mortgages to nonimmigrants. i am an example; when the mortgage rates fell really low in mid 2002, my wife and i decided to see if we couldn't buy a house. we were then still in the thick of our AOS process. the realtor, mortgage broker and bank seemed almost dismissive of our repeated reminders that we were not PRs or citizens (a oft-repeated refrain on our part; didn't want to be accused of witholding information at a later stage). the loan broker and bank (in this case, principal financial group based in des moines) were quite aware of H1B status, and were perfectly happy to approve a loan for us at only 5% down.
and we were not the only ones; there were a few other families we knew personally who also applied for and received home mortgages while in nonimmigrant status, including one family in J-status, who had made it clear that theirs' was primarily an investment purchase.
dix is just being a dickhead.
funny thing is, iowa has been one of the most liberal states in granting home mortgages to nonimmigrants. i am an example; when the mortgage rates fell really low in mid 2002, my wife and i decided to see if we couldn't buy a house. we were then still in the thick of our AOS process. the realtor, mortgage broker and bank seemed almost dismissive of our repeated reminders that we were not PRs or citizens (a oft-repeated refrain on our part; didn't want to be accused of witholding information at a later stage). the loan broker and bank (in this case, principal financial group based in des moines) were quite aware of H1B status, and were perfectly happy to approve a loan for us at only 5% down.
and we were not the only ones; there were a few other families we knew personally who also applied for and received home mortgages while in nonimmigrant status, including one family in J-status, who had made it clear that theirs' was primarily an investment purchase.
dix is just being a dickhead.