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:
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.