Do You Have to Be a U.S. Citizen for an FHA Loan?
FHA offers home loans to citizens, permanent resident aliens and non-permanent resident aliens. FHA lenders may not discriminate against the borrower simply because they are not a U.S. citizen. They also may not discriminate because the spouse of the borrower is not an American citizen. However, lenders can require extra conditions or require non-citizens provide specific documentation, which proves they are in the country legally.
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Permanent Resident Aliens
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Permanent resident aliens are foreign nationals who applied for permanent resident alien status. Often these people receive sponsorship from family members who already in America, or businesses who wish to hire them in America. Permanent resident aliens must check question J. "No" and question K. "Yes" on the mortgage application. FHA lenders often require the borrower provide a copy of the permanent resident alien card issued by the American government.
Non-Permanent Resident Aliens
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Some non-permanent resident aliens qualify for mortgage loans from FHA as well. The process of becoming a permanent resident alien often takes years, many of the applicants live in the United States under a work visa issued by the American government. Obtaining an FHA mortgage requires non-permanent resident aliens check both questions J. and K. "No" on the application and provide a copy of their passport with an authorized work visa from the American government.
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Credit History
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Both permanent resident aliens and non-permanent resident aliens must provide an acceptable credit history before purchasing an FHA mortgage. To obtain an acceptable American credit history, the borrowers must have a valid American Social Security number. Most lenders do not accept foreign credit reports when approving an FHA mortgage. The permanent resident aliens and non-permanent resident aliens must obtain a Social Security numbers prior to starting work in the United States.
Employment
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Both non-permanent resident alien visas and permanent resident alien cards expire. Lenders review the expiration date to ensure the document isn't already expired and if it's coming close to the expiration date, then a letter from the employer documenting the extension is usually requested. Lenders want to know the borrowers are eligible to remain working in the country for least three years and look for a two-year employment history in the United States.
Other Qualifications
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FHA requires both non-permanent resident aliens and permanent resident aliens qualify under all of the other guidelines. This includes a minimum down payment of 3.5 percent, acceptable credit histories and purchasing an eligible home.
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