Everything You Need to Know before Applying for DACA Mortgage Loans in Houston

How do you apply for DACA home loans in Houston? What are the necessary documents to show?

Did you know the Obama administration introduced the DACA policy for protecting children who unlawfully entered the country with their legal guardians? The program initially attempted at preventing deportation and helping them acquire work Social Security numbers, work permits, and official photo identification. Previously, individuals were eligible for requesting the DACA status before stepping into the country.

Now, coming back to our topic, DACA is a government program for undocumented minors in the U.S. They might have been brought up in this country and identify themselves as Americans – however, their citizenship status is often under scrutiny. Due to their special status, Dreamers are still ineligible for all types of programs. Thankfully, the HUD allows DACA recipients, but they cannot apply for other government-backed home loans.

So, let’s take a look at how individuals can apply for DACA mortgage loans in Houston with their undocumented status.

DACA Recipients Purchasing a House

The U.S. Department of Housing and Urban Development does not discriminate against people by nationality, color, race, or disability. Therefore, the HUD does not prohibit lawful citizens regardless of their status from applying for a home loan. The DACA recipients, therefore, do not face rejections due to their immigration status. Now, a DACA recipient is eligible to purchase a house. Of course, remember that you may have to face particular restrictions.

Necessary Documents for DACA Recipients

You can receive DACA home loans only if you submit important documents. Through the documentation stage, a lender verifies residency status and employment. If you need DACA mortgage loans in Houston, you need a non-expired EAD. This is the best way to authenticate your capability to work in the U.S. and get a hold of income. In case your EAD expires, you should wait for its renewal. This is the only way for lenders to figure out that you are eligible to work and capable of paying monthly payments. The Social Security Number is another way to confirm your working years.

Many DACA lenders require your bank statements for verifying work history and checking consistency. With the bank statements in hand, lenders can see your payment schedule too. Lenders might ask for documents related to income, pay stubs, W-2 statements, and tax returns. With a series of proof for consistent income, lenders can also put faith in you.

The homeownership process for DACA recipients has become a lot more attainable now. If you are looking for an experienced lender to walk you through the process, contact Clear Lending.

Clear Lending is a residential real estate lending services company dedicated to maintain the highest ethical standards to its customers, agencies