2 Questions on DACA Mortgage Loans in Houston

DACA is a visa status and it is given to the ones who have come to the United States in their early childhood with parents but unlawfully. Years later when they want to buy a home and this, apply for a home loan program, they find it difficult to get approval for unlawful entry. And at such a juncture, the DACA status helps a lot.

But being new with the concept of DACA mortgage loans in Houston, you could have several questions. We are here to answer these. Here, we have listed down a few for you –  

1. How to get a home loan as a DACA recipient?

Applying for a home loan program is not difficult. Once you find a home to purchase and a mortgage lender, you can start your application. This application can ask for some general information regarding your employment, income, and personal information, and details about the property in question.

When you apply for a home loan program, you are asked whether you a lawful citizen of the U.S. or not. You should be honest when providing the answer to your residency status.

Along with your application, you will need to provide some additional information to the lender, including proof of your legal status to live and work in the U.S. and earnings-related documentation. After going through the information, the lender will determine your eligibility for a mortgage, your loan amount, and the terms of your loan.

2. What are the documents required for such a mortgage?

Receiving DACA home loans will be possible when you provide some specific documents. This documentation help verify your employment and residency status for the lenders. When applying for a DACA mortgage, you will need to provide some documents, including:

1. Current Employment Authorization Document

 

You can get this document from USCIS under category C33. With this, a lender verifies your ability to work in the U.S and to receive an income.

 

1. Social Security Number

 

This number will help the lender how many years you have spent in the workplace and your previous earnings.

 

• Previous expired EAD card

 

It will show a potential lender that you have qualified for renewal in the past. Besides, you will likely to continue to have your EAD renewed. It means you will be able to continue working and maintain payments on your mortgage.

 

1. Bank statements

 

Along with establishing a work history, you will need to establish a history of consistent income when applying for a home loan program. It will show the lender that you will be able to maintain your payment schedule.

 

1. Additional income documents

 

You will also need to come with additional income-related documentation. It includes federal income tax returns, W-2 statements, as well as pay stub copies while applying for a home loan. The more proof of consistent income you can give, the more faith the mortgage lender will have on you.

So, get the answers to your question. What’ next? Opt for a reputable mortgage lender and apply for the loan today.