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Government Lending Tip of the Week

By
Real Estate Agent with RE/MAX North - San Antonio

logoA non-resident alien is defined as a visitor who is granted a temporary right to live in the United States (usually three or more months), but who may not work while in the United States and who may not remain on a permanent basis. The individual is not seeking immigration status with the United States. 

Non-resident aliens are not eligible for FHA lending as they are unable to meet HUD's requirements for a FHA applicant that requires the subject property to be the applicant's primary residence, requires the applicant to have a valid Social Security number (SSN) and requires the applicant to be eligible to work in the United States as evidenced by an Employment Authorization Document (EAD) issued by the Bureau of Citizenship and Immigration Services (BCIS). 

Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Great tip - I never really thought about it.  Limits the ability to purchase because is the best game in town.

Feb 26, 2009 02:44 PM
Marshall Moody
Guild Mortgage NMLS 3274 - San Antonio, TX
Residential Mortgage Loan Originator NMLS 273078

Good information...especially for those of us in South Texas.  There are alot of folks who seem to get confused by the language used.  Thanks for the tip.

Feb 27, 2009 08:44 AM