Common challenges
Confusion between visa categories costs borrowers money: permanent residents sometimes get quoted foreign-national pricing they do not need, while EAD holders do not realize they qualify for agency loans at all.
Programs that fit
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
VA Loans
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs that lets eligible veterans, active-duty service members and certain surviving spouses buy with no down payment and no monthly mortgage insurance.
Foreign National Loans
A foreign national loan lets a non-US citizen who does not live in the US finance a US investment property or second home without a US credit history or Social Security number.
Tips before you apply
- A valid green card generally gets you citizen-equivalent treatment: no pricing premium, no extra down payment.
- On a work visa with an EAD? Fannie Mae and FHA both have paths, bring unexpired documents and a two-year US work history.
- No SSN at all? ITIN loan programs are the fallback, with higher down payments than agency loans.
FAQ
What is the best mortgage for green card holders?
It depends on your documentation and goal. The programs that most often fit are Conventional Loans, FHA Loans, VA Loans, Foreign National Loans.