U.S. residents with DACA status – FHA is willing to approve home loans for DACA recipients – meaning they’ll get access to the low-down-payment FHA mortgage program that’s so popular with U.S. home buyers.
At Supreme Lending Dallas, we’re immensely proud to offer DACA home loans that take your home-buying dreams and turn them into a reality. With our exclusive loan program for Texas Dreamers, you can explore a consumer-friendly DACA FHA loan that introduces the opportunity for lower minimum down payments, lower credit score requirements, and more flexibility with existing debts.
Our team is dedicated to your home-buying dream. We invite you to fill out the contact form below, or contact our office so we can get started on your DACA home loan today!
Deferred Action for Childhood Arrivals (DACA) is a federal program created for individuals brought to the U.S. as children who are undocumented and technically living here illegally. DACA recipients were raised in the United States and typically identify as Americans. They are also known as DREAMers because they have been granted temporary conditional residency with the right to work under the Development, Relief, and Education for Alien Minors Act. DREAMers can apply for a Social Security number, driver’s license, and work permit but aren’t granted citizenship or official legal status.
The loan must be for a home that will be the borrower’s primary residence, and the DACA recipient must have:
When buying a house with DACA, any prior EAD cards that are currently expired must also be included with the DACA application.
There are over 1.4 million DREAMers that can potentially benefit from the DACA homebuying program. The eligibility requirements for DACA state that the individual:
The Fair Housing Act forbids anyone in the real estate industry, including real estate agents, lenders, and sellers, from asking about someone’s immigration status. It also prohibits discrimination against homebuyers or sellers based on their citizenship status.
If you meet the FHA Home Loan program requirements, you can apply for a loan. Being eligible for an FHA home loan as a DACA Recipient and being approved for the loan are not the same. Loan approval is not guaranteed for everyone that is eligible, but eligibility is the first step toward homeownership.
At Supreme Lending, the Loan Officers of Team Martilla have extensive experience with the DACA recipients and can guide you through the loan process. Our FHA home loan program team will ensure that all the necessary steps are complete to help make your dream of homeownership come true as quickly as possible.
Whether you found your dream house and are ready to buy, or you are just thinking about buying a house and you are a DACA recipient, it’s always a good idea to look into your options. Learn more about the types of home loans we offer — and give us a call when you’re ready to get started!
Here are some more common questions from other customers about buying a house if you are a DACA recipient and the loan process. You can also visit the Frequently Asked Questions page for more information.
The U.S. Department of Housing and Urban Development (HUD) recently addressed eligibility for FHA loans for Deferred Action for Childhood Arrival (DACA) recipients in Mortgagee Letter 2021-12. They clarified that as of January 19, 2021, potential borrowers who meet the qualifications for FHA home loans, and are also legally permitted to work in the U.S., are eligible to apply for mortgages backed by the FHA.
At Supreme Lending, we work to get you into your new home fast. Buying a house when you are a DACA recipient is basically the same as other options once you have the required information and finances in order. Here are the main steps in the loan process:
On average, it takes about 25 days to complete the process.
Thanks to updated regulations, buying a house with DACA is now easier to attain than ever. Dreamers with a minimum credit score of 620, steady employment and savings can take advantage of the FHA loan program and make owning a home a reality.
We’re proud to offer affordable rates and closing costs with quick turnaround times, so you can get the financing you need. We welcome you to talk to one of our mortgage professionals about FHA home loans for DACA recipients. Contact us to take advantage of the homebuying programs available to DACA recipients today!
