First-Home Q&A · 8 of 13
A question that comes up constantly in consultations: “I don’t have a green card. Can I still buy a first home?”
The short answer: status by itself does not stop a purchase. What status changes is the mortgage path, and knowing the path in advance is what makes the preparation accurate.
A work visa is enough for many lenders
If you live in the US on a long-term work visa — H-1B, E-2 and the like — many lenders will underwrite a mortgage. The paperwork is not identical to a citizen’s or permanent resident’s: remaining visa term, employment stability and income documentation get a closer look, case by case.
Do not assume “work visa means no.” Find out which lenders work with your situation first. What the rules actually say, down to Fannie Mae’s standard, is in getting a mortgage on a visa.
No Social Security number? There are ITIN mortgages
The same applies if you have only an ITIN, the individual taxpayer identification number. A retail bank turning you down for lack of an SSN is not the end — it means the next step is a lender that specializes in ITIN mortgages.
Because that is a different group of lenders altogether, starting there saves time. Expect larger down payments and higher rates, though, and weigh the ITIN route against your other options.
What lenders look at before status: credit and income
In the actual approval, credit score and income documentation matter at least as much as the type of status. Roughly 640 is the credit threshold many programs use, and pay stubs and tax returns are required regardless of status.
In practice, more files are delayed by “credit and income paperwork not ready” than by “no green card.” How to prepare your credit in advance is in episode 10.
MassHousing’s first-time buyer assistance is open not only to citizens and permanent residents but also to long-term work visa holders and ITIN holders. Do not close the door on yourself over status — find out, in order, which lender and which documents your situation needs. I will check it with you.
Questions
Common questions
Can I get a mortgage on a work visa?
If you live in the US on a long-term work visa such as an H-1B or E-2, many lenders will underwrite a mortgage. The paperwork is not identical to a citizen's or permanent resident's — remaining visa term, employment stability and income documentation get a closer look — but the right first step is finding which lenders work with your situation, not assuming the answer is no.
I have no Social Security number and the bank turned me down.
That is not the end. If you have only an ITIN, the next step is a lender that specializes in ITIN mortgages — a different group from a retail bank branch. Starting with an ITIN specialist saves time; expect larger down payments and higher rates, and weigh them against other options.
Sources
Written by Diana Yeji Kim — REALTOR® at eXp Realty, serving Greater Boston in English, Korean, and Japanese.
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