Can an Immigrant purchase a home?

Home ownership is an integral part of the American Dream, which we are encouraged to work hard towards.  Home ownership is a great source of pride in the U.S., and a huge source of gratitude for immigrants.  Striving towards home ownership can be considered a way of life for Americans born and raised in the United States.

Immigrants Can Buy A Home In The US

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There is good news for immigrants that want to own a home, too. It has long been said that America is the land of opportunity. Any realtor can tell you from experience that you do not have to be a U.S. citizen to buy a home in the States. With some hard work and with the right resources, the opportunity of home ownership awaits everyone. Immigrants can obtain homes in the US just like anyone else. There are millions of undocumented immigrants who already own homes in the United States. One obvious way to purchase a home as an immigrant would be to buy the house all in cash, without taking out a mortgage. Then, with the equity of their first home purchase, one can work up to a bigger, better home in the future.

If one does not have the cash to buy a home outright, there are mortgage programs that are set up to help an undocumented immigrant qualify for a home mortgage. Immigrants who do not qualify for social security numbers must apply for an Individual Tax Payer Identification Number (ITIN) through the Internal Revenue Service (IRS).  Some financial institutions can offer a mortgage to ITIN holders.

Green Card Holders Can Buy A Home In The US

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A green card holder is a legal permanent resident (LPR) of the United States, so they can purchase a home just like a U.S. citizen. They can apply for a traditional mortgage through a bank or credit union. Of course, they will be required to meet the down payment requirements and of all of the documentation that would be expected from all applicants. Like all mortgage applicants, everyone is required to qualify financially and must present proof of income, proof of residency, etc. to qualify.

Due to the time it takes to obtain a mortgage, it is strongly suggested to begin the process of applying for a mortgage before beginning to look for a home. Residential real estate is a fast-moving industry and many home sellers and realtors prefer to work with pre-qualified buyers only. Fortunately, immigrants can buy homes in the US just like anyone else.

If you, or someone you know, is interested in purchasing a home in the U.S. and have questions, feel free to contact Curtis Lum Team for real estate. 

If you have additional questions regarding what immigrants can and cannot do in the United States, do contact our office.