Do you want to find the perfect home but the only issue you are facing is the denial of your mortgage application by the bank due to the fact that you are part of the Deferred for Action Childhood Arrivals or what is commonly referred to as the DACA program? This is happening to many people if you look around. But this certainly does not mean that you give up your home ownership dreams. You will be able to afford your dream home on your own terms by some means or the other.
One of the vital queries or doubts that you might have is how can you get a DACA loan program. Eligibility is a key factor regardless of which home mortgage loans you want. You can avail these loans only when you are a part of the DACA program. But you might have your finance options a little limited and you could also be restricted to a few types of loans. Usually, a permanent citizen who abides by the laws can be eligible for almost all kinds of mortgage programs, including the conventional loan programs and the FHA loans. You just have to prove your legal citizenship in the USA. But the DACA lacks clarity. There are various agencies which set policies and it might not improve your legal citizenship. This is what gives rise to complications and doubts among the DACA recipients.
Here, we have put together 2 very important facts that you must know about the home loans for DACA recipients in Houston, TX. Take a look.
- Things to Do
According to the US Department of Housing and Urban Development, it is officially evident that the DACA will not be conferring a legal status to the recipients of DACA. This department will also not decide if one is a citizen of the USA or if they have an immigration status. Instead, they have formulated something as the Dreamers Act which ensures that all the home loan recipients of the DACA can get access to the home mortgage options which includes even the FHA or the first time home buyer loans. This will obviously widen the horizons for all home loan applicants and allow them to avail the low risk, cost-effective home loan options. It should be understood that DACA recipients are non-permanent, legal US residents if they are able to showcase authorized documents of employment. So, you should try and get hold of these to prove your citizenship.
- What Documents to Produce
In order to apply for the DACA home loans, all recipients have to show certain documents which will verify whether you have the employment status and an authentic residency that is needed. Firstly, you should have a present employment card issued by the US citizenship and social security number. These documents are needed to convince the mortgage lender that you have an identity and have the finances so you will be able to repay the loan. Apart from this, you have to submit other documents, depending on the sort of job you do.
So, now that some of your queries have been resolved, you can further get into more details by going to a lending site that offers all kinds of mortgage programs, including home loans for DACA recipients in Houston, TX.