As the debate about immigration continues in our country, young adults who came to the U.S. as children remained here under the Deferred Action for Childhood Arrivals program have the ability realize the American dream by purchasing a home. Mortgage Depot is a mortgage broker, so our loan officers have access to an assortment of lenders, including some that offer financing for individuals living in this country under DACA.
Features of our DACA financing program
Someone who came to this country as a child could qualify for a loan to purchase a home. Borrowers must be legally present in the U.S. at the time of submission of a loan application.
Loans must meet Fannie Mae underwriting guidelines. Borrowers must be able to provide each of the following documents as part of their loan application package:
- A valid Social Security number or a valid Individual Taxpayer Identification Number
- A current and valid Employment Authorization Document issued by U.S. Citizenship and Immigration Services. A work visa or government-issued permanent residency documentation may be substituted for the EAD.
- Such other documents regarding residency, employment and income as required by the lender’s underwriting guidelines.
Our loan officers specializing in DACA mortgage financing are familiar with lender and Fannie Mae underwriting requirements and work closely with borrowers throughout the loan process to ensure all application packages are complete.
How we help DACA applicants
Media reports about DACA applicants being denied FHA-backed financing contributed to confusion about the availability of mortgages for individuals living in the U.S. under DACA. Our loan officers cut through the confusion to help DACA individuals obtain financing with loans backed by Fannie Mae.
Contact Mortgage Depot today
At Mortgage Depot, our loan officers take pride in being industry leaders capable of helping all borrowers obtain mortgage financing. Find out more about our DACA loan program by contacting us today.