It can open up some more options - however if you are a permanent resident (i.e. a "green card") then in a lender's eyes it's the same thing as being a US Citizen. If you are non-permanent resident (on a Visa with an Employment Authorization Document) then that usually can work out as well. So being a US Citizen presents the least amount of paperwork, but it's certainly possible to get a regular FHA or conventional mortgage while being a permanent resident or non-permanent resident too.... more
I hope this helps:
FOLLOWING IS THE FHA GUIDELINES FOR NON PERMANENT RESIDENT ALIENS LOOKING
to obtain a FHA insured mortgage within the Continental United States:
1.) Property must be the borrower's principal/primary residence
2.) Borrower must have a valid Social Security Number (SSN)
3.) Borrower must be eligible to work in the U.S. as evidence by his/her Employment Authorization Documents (EAD) issued by the US Citizen and Immigration Services (USCIS)
Note: Social Security card alone can not be used as evidence of work status. Although Social Security cards may indicate work status, such as "not valid for purposes," an individuals may change without being reflected on the actual Social Security card. Therefore your EAD must be used instead.
if your EAD expires within 1 year and a prior history (12-24 months) of residency status renewal exists, must lenders (including us) may assume that the EAD continuation will be granted. If there is no prior renewals, a lender will determine your likelihood of renewal, based primarily on information from the USCIS.
REFUGEE OR ASYLEE STATUS:
Aliens that have been granted refugee or asylee status by the USCIS are automatically eligible to work in this country. Therefore, an EAD is not required.
I hope this has been helpful. If I can be of any further assistance, please feel free to contact me at your... more