Rudy Mcdowell's Blog

By Rudy R. McDowell | Mortgage Broker
or Lender in Bloomfield Hills, MI


Permanent Resident Aliens

Permanent resident aliens are non-United States citizens who hold acceptable evidence of permanent residency issued by the U.S. Citizenship and Immigration Services (USCIS). Mortgages can be made to non-U.S. citizens who are lawful, permanent residents of the United States under the same terms available to U.S. citizens. Permanent resident aliens must have any of the following documentation:

  • Permanent Resident Card (USCIS form I-551)
    May be issued as a conditional right to reside for individuals seeking residency through marriage to a U.S. citizen/permanent resident or based on a financial investment in a U.S. business.
      • These cards will have an expiration date and are valid for two years.
      • At the end of the two years the individual must apply for an unconditional right to reside or risk losing their permanent resident status.
      • Cards that are due to expire within 90 days must be accompanied by a copy of USCIS form I-751 (Petition to Remove Conditions on Residence) or USCIS form I-829 (Petition by Entrepreneur to Remove Conditions) filing receipt.
    • Cards may be issued without conditions and are valid for ten years.
      • Cards that are due to expire within 6 months must be accompanied with a copy of USCIS form I-90 (Application to Replace Permanent Resident Card) filing receipt.
    • There are numerous versions of the I551 card that are no longer issued but are considered valid as long as unexpired.
      • Cards that are due to expire within 6 months must be accompanied with a copy of USCIS form I-90 (Application to Replace Permanent Resident Card) filing receipt.
  • Unexpired Foreign Passport
    • Must contain an unexpired stamp reading “Processed for I-551 Temporary Evidence of Lawful Admission for Permanent Residence. Valid until mm-dd-yy. Employment authorized.”
  • Non-Permanent Resident Aliens

    Non-permanent resident aliens are non-United States citizens who are permitted to reside in the United States on a temporary basis and may have been granted authorization to work in the U. S. by the U. S. Citizenship & Immigration Services (USCIS). These borrowers follow the non-permanent resident alien guidelines. These Non-permanent resident aliens must have valid visas or other proof of legal residency. Acceptable visas include but are not limited to E-1, H-1B, H 2A, H-2B, H-3, L-1, G series and O-1.

    For more information about visas, visit the USCIS website: http://www.uscis.gov/portal/site/uscis

    Note: Foreign nationals from Canada and Mexico who are working in the U. S. under the terms of NAFTA should be treated as non-permanent resident aliens when determining their eligibility for mortgage financing. Refer to North American Free Trade Agreement (NAFTA) Workers in this section for more information.

    There are no restrictions for non-permanent resident aliens; they should be underwritten using the same criteria as United States citizens. However, documentation must be provided showing that the borrower is a legal resident with a U.S. source of income that can be expected to continue for three years. Obtaining a copy of a valid work permit satisfies both requirements.

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