would you get a better rate as being a USA citizen as opposed to a permanent resident?

Asked by cgmercado68, McKinney, TX Sat Mar 30, 2013

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Bruce Lynn, Agent, Coppell, TX
Thu Jun 16, 2016
Just a note to check in with you to see if you bought a home?

To answer your question it depends on a lot more factors than citizenship.
All things being equal I don't think the rate would matter.
However can depend on income, credit score, etc.
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Susie Kay, Agent, Dallas, TX
Sat Jul 6, 2013
I would suggest that you talk to a couple lenders. I personally think it depends on your credit history, credit score etc and not based on your citizenship. I had a client who is a permanent resident but has lived and worked in the US for 20 years or so and he got a good rate.

As far I can remember you have to live in the US for 5 years before you can become a citizen. So that tells me that one can be a citizen but has less credit history than and permanent resident, meaning he probably pays a higher interest rate eventhough he is a citizen.

I'd be happy to give you my lenders contact and I'd be happy to assist you with your home purchase in Little Elm. Give me a call at 469-371-2899. You may even qualify for USDA loan with no money down.

Susie Kay, Realtor®
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240


Servicing your real estate need is my priority!
0 votes
absmith2286, Home Buyer, Little Elm, TX
Mon Jun 17, 2013
As a person that is an immigrant with immigrant family I can tell you ultimately no. When you first arrive and develop Perm status than yes but that is more because of establishment of credit not because of residency status(obviously non immigrant yes) I have an example for you. My parents moved to woodlands and bought a house at the outset of arriving in america This was 2006 with 50 % down they got a loan with eight percent interest. Their income has significantly reduced and they lost a lot of wealth due to exchange rates. My dad is still not a permanent resident and only applied in 2012. They just got pre approved for a loan with 20 percent down at 3.3 percent. The short answer to your question is no. Establish long credit with multiple cards in good standing and i am sure you wil get a great loan.
0 votes
John Lyng, , Dallas, TX
Sun Mar 31, 2013
To the best of my knowledge with banks the answer is always 'yes'. Lending to those with permanent status is riskier, therefore there is usually a higher rate as well as a higher down payment.

I do offer a program with no down payment, closing costs or the need for perfect credit. Friday's rate was 3.375% on a 30-year fixed for everyone, including those without permanent status.

Check out http://www.naca.com. If you have questions afterwards contact me.

John Lyng
Mortgage Counselor-NMLS 280951
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