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