Category: Universal Topics

Non-Permanent Residents and DACA Recipients – Did you know that there are home financing programs available to you with the same loan programs and terms as U.S. citizens?  Before a lender tries to talk you into high down payments or higher than market rates, let’s chat!

Non-Permanent Residents and DACA Recipients – Did you know that there are home financing programs available to you with the same loan programs and terms as U.S. citizens?  Before a lender tries to talk you into high down payments or higher than market rates, let’s chat!

Related Article Title: Which Agency Programs Allow Non-Permanent Residents? Question: What mortgage programs are available for non-permanent residents? Answer: All agencies [Fannie Mae, Freddie Mac, FHA, VA, and USDA] will accept non-permanent residents with a valid EAD [Employment Authorization Document]. Your client should also have a document showing their type of Visa. If they do […]

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Which Agency Programs Allow Non-Permanent Residents?

Question: What mortgage programs are available for non-permanent residents? Answer: All agencies [Fannie Mae, Freddie Mac, FHA, VA, and USDA] will accept non-permanent residents with a valid EAD [Employment Authorization Document]. Your client should also have a document showing their type of Visa. If they do not, they can get proof of their status online […]

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What Programs Allow DACA Status Borrowers?

Question: What is the position of the agencies [or industry standards] related to DACA [Deferred Action for Childhood Arrivals] recipients? Answer: Fannie Mae, Freddie Mac, and USDA are pretty clear about accepting DACA recipients. They all are fine with that status. FHA is the one that is unclear, which means that some lenders will allow […]

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What Was Added? What Was Changed on Mortgage Currentcy This Month?

In each Rules Issue, we post, “What was Added and What Was Changed!”  This helps our subscribers stay up to date on all of the additions to the site as well as changes to our charts, checklist, and MTPs that are changed each month, due to guideline updates. The COVID-19 Updates keep coming, but there […]

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PPP/SBA Loans During Pandemic & Business Income

Question: How does the Payroll Protection Loan from the Small Business Administration help or hurt a business when we are qualifying them for a mortgage loan? Answer: The SBA loans will have little to no impact with regard to qualifying for a mortgage. The agencies consider these types of assistance to be temporary. Therefore, the […]

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