Everything That You Should Know about DACA Mortgage Loans in Houston

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Is it difficult for you to get a home loan approval in the U.S. as you have come to this unlawfully? Are you wondering what to do? Well, you can fulfill your dream of homeownership with DACA status. It is a visa status that makes it easy for you to get a home loan approval in the U.S.

However, don’t have any knowledge about DACA mortgage loans in Houston? Do you want to know about this loan program before applying for it? To help you, here, we have put together a few questions and answers for you.

Can I apply for a mortgage as a DACA recipient?

If you are a DACA recipient, you can get a home loan approval. Though some types of loans are not available to dreamers, there are other home loan options, like conventional loans for anyone in the country under the DACA program. When getting a conventional home loan for your purchase, you will enjoy the same benefits as an applicant along with high loan limits and reasonable credit requirements.

Are my home loan limits diminished as a DACA recipient?

Nope, there is no such thing. When you use a conventional loan as a DACA recipient, you will have access to the same loan limits as any U.S. citizen opting for this loan program for financing. The exact amount that you will have access to will depend on your income, credit score, debt-to-income ratio, and many other factors. However, the limit across the country is around $510,400 for a single-family home. In some high-cost areas, the limit can go as high as $765,600.

May I have to do a lot of paperwork to get this loan?

No, when you compared to any other home loan. Compared to a typical conventional loan for a U.S. citizen, no, there is not a lot of paperwork for DACA home loans. You will have to prove your status as a DACA recipient, as well as go through the same application process as anyone else. And you will not find an excessive amount of paperwork with this home loan.

What are the documents that I need for this loan?

You will need basic documents on immigration and residency status. Along with your income, credit, and debt information, DACA recipients will need to verify their status in the country that can be done through an Employment Authorization Document, Green Card, Visa, and other information. Besides, you may also need to pay stubs, employment verification, your Social Security card, or bank statements. Generally, it is better to have all of these documents ready in case they are requested by the lender. 

Can I get an FHA loan as a DACA recipient?

No. Though the federal policy is always subject to change, nowadays, FHA loans are not available to non-citizens. The Department of Housing and Urban Development that oversees the Federal Housing Administration (FHA), has confirmed that their services are only for U.S. citizens. You can research more about this topic to clear your doubts.

So now, what to wait for? Apply for a home loan program as a DACA recipient and fulfill your dreams to have a home easily.

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