FHA Loans / FHA, VA & Conventional Related

Can A Foreigner (Non Permanent U.S. Resident) Get An FHA Loan?

April 16, 2011 at 8:10 pm By

When someone has entered the U.S and chosen to reside here, they are considered a “Resident Alien”.
However there are two labels for folks that have come to stay.

(i) “Permanent Resident Alien” – A non-resident alien is a lawful permanent resident of the U.S. at any time if they have been given the privilege, according to the immigration laws, of residing permanently as an immigrant. This status usually exists if the Bureau of Citizenship and Immigration Services has issued a green card. In actuality, there are no differences in terms of Lending guidelines , between Permanent Resident Aliens and U.S.-born Citizens.

(ii) “Non-Permanent Resident Alien” – typically these are people that arrived on a J-1 or F-1 Visa. They may be students, or be working under I.N.S authorization. If they are working with an Employer Sponsored Visa, they have no limit on their US residency.
However if they’re working with a Non-Employer-Sponsored Visa they have to show at least 1 yr history of U.S. residency.

So here are the rules when applying for FHA financing:

The non-permanent resident alien
(i) must be applying for a loan to purchase a principal residence
(ii) must show an Employment Authorization Document (EAD) from BCIS (US Bureau of Citizenship & Immigration Services)
(iii) must possess a valid Social Security Number (SSN)/card- plz note a Taxpayer ID# (TIN) will NOT be allowed.
(iv) must show an Authorization For Temporary residency – if this is about to expire within 12 months and there has been no prior history of renewals, then the FHA Underwriter must determine the likelihood of renewal based on information from the BCIS
(v) must show 2yrs Federal Income tax returns for proof of income

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