Mortgage Home Loans for Non-Citizen Borrowers

Recently Fannie Mae added clarity to their guidelines regarding non-citizen borrowers being eligible to qualify for a conventional mortgage. According to Fannie Mae, this is not a change to existing policy, it is just (much needed) clarification for lenders.

In order to be eligible, a borrower must be “legally present” in the United States. This means the borrower must have:

  • a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN); and
  • have current, verified status, which may be documented by a valid employment authorization document (EAD), OR other documentation showing immigration status is current (such as a Green Card, work visa, etc).

Non-citizen borrowers who are “legally present” must meet all other underwriting guidelines and lenders may review situations differently.  Per Fannie Mae, f a borrower can provide documentation of 3 year income continuity, the fact that their status is renewed every two years is not a factor as long as they are legally present and have met income requirements.

If you or someone you know are considering buying a home located anywhere in Washington state, I’m happy to help you with your mortgage needs!  Click here for a no-hassle mortgage rate quote.



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