H1B expires shortly. I-797 awaited. Can I get a mortgage?

Asked by eshanpatvardhan, Tampa, FL Wed May 22, 2013

Hi,

I'm in a tricky situation. My current H1b expires in about 45days. However, my employer will be extending it for another 3yrs. That process will be initiated by end of this month. I have an accepted offer on buying a house and am working towards the P&S right now. Closing date is scheduled for end of July 2013. We are in a good position financially and making a down-payment of more than 40% towards purchasing the house.

My question is:
Will I qualify for the mortgage? when my current stamped H1b expires shortly?
I will be having a valid approved visa extension (I-797) by the time of the closing date. I have been on H1B for last 3yrs (with 2 visa extensions) & my credit scores ate 740 .

Will the lenders accept a valid I-797? After all, it is a valid legal permit to live & work in the US.

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Answers

8
Saisri.2k2, Home Buyer, Sun Prairie, WI
Fri Aug 12, 2016
Were you able to find the solution for your problem? If so could you help me with the Lender/company you went with? Appreciate your help.
0 votes
Heath Coker, Agent, Falmouth, MA
Fri May 24, 2013
Sounds like Jim Driscoll below has some current info.
I would contact a local lending professional to help with this answer.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes
Jim Driscoll, , Lynnfield, MA
Thu May 23, 2013
I just reviewed the client's file that we closed with an expired H1b and how we did it. Call me to review at 617-529-9007
0 votes
Jarred Alexa…, Mortgage Broker Or Lender, South Boston, MA
Thu May 23, 2013
Per Chase most conservative guidelines that many lenders will follow:

Non-U.S. citizens must provide non-expired, official identification to confirm and document the applicant’s immigration status.

Documentation must include:

Identification type and number
Place of issuance
Issue and expiration dates
Any application to extend the stay and/or alter a visa status will not be accepted as official identification, until the approval is granted and evidenced. For example, an I-797, Notice of Action form, is not a visa and may not be used in place of a visa.
0 votes
Jarred Alexa…, Mortgage Broker Or Lender, South Boston, MA
Thu May 23, 2013
Per Chase most conservative guidelines that many lenders will follow:

Non-U.S. citizens must provide non-expired, official identification to confirm and document the applicant’s immigration status.

Documentation must include:

Identification type and number
Place of issuance
Issue and expiration dates
Any application to extend the stay and/or alter a visa status will not be accepted as official identification, until the approval is granted and evidenced. For example, an I-797, Notice of Action form, is not a visa and may not be used in place of a visa.
0 votes
Jim Driscoll, , Lynnfield, MA
Wed May 22, 2013
We just did a similar loan for another client in the exact situation. Call me or email me and I can have you talk to her as a reference also take a look at our other testimonials in the link below. My number is 617-529-9007
0 votes
CH Naamad, Agent, Boston, MA
Wed May 22, 2013
Please consult a mortgage broker. They can answer this question for you better than anyone.
I think it is possible, but difficult to accomplish.
Best regards,
0 votes
Richard Shap…, , Framingham, MA
Wed May 22, 2013
You need to be legal which you are. More that likely you will need the paperwork confirming your company is extending and possibly a letter from your immigration attorney confirming this as well.
0 votes
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
Thanks a lot!! I really appreciate your advice.
Flag Wed May 22, 2013
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