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Visa Status

Fannie Mae-Freddie Mac-FHA-VA & USDA: I used to be able to offer DACA Visa Status C-33 borrowers mortgage financing. My lenders now say “No”, is this true? [MC-Visa Training Part One & Two Class-Visa Terminology Chart-Visa Reference Chart]

Answer: Our experts and a subscriber accustomed to doing DACA loans reached out to multiple agencies to get their answers as to whether DACA is or is not acceptable. We have published the relevant parts of those responses under the Reference section. Since the rescission of DACA in February of 2018, the secondary markets have [...]

2018-06-25T08:48:05-05:00June 24th, 2018|

FHA – Visa Status: If a borrower has a J-1 Visa working on her medical residency and has a sponsored employer, will she be eligible for an FHA loan? [New Chart – Interactive VISA Status Chart]

Answer: FHA provides no detail on the acceptability of visas and requires the lender to determine that the borrower resides and works in the US legally and their residency status and income is stable and likely to continue for at least 3 years.  We have attached our Interactive VISA Status Chart which was just released and [...]

2018-02-26T09:25:03-05:00February 23rd, 2018|

Working With Visa Status Borrowers [New Chart-Visa Status Reference-New Chart-Visa StatusTerminology-New Chart-Visa Classifications That Allow You to Work in the U.S.]

By: Tammy Butler, Master CMB Working with Visa Status borrowers can be a daunting task if you are not familiar with the terminology, what statuses may work and live in the US, and how to count income and probability of income. Compound that with the lack of guidance from the agencies and the varying interpretations [...]

2018-06-01T13:04:33-05:00February 9th, 2018|