Owning a home can feel out of reach when you’re on a visa or still building credit, but many immigrants buy homes in the US every year. There’s no law requiring you to be a citizen or permanent resident to buy property. The challenge is financing: getting a mortgage depends on your status, income, credit and down payment.
This guide walks through the process. It’s general information, not financial or legal advice.
Can you get a mortgage on a visa?
Often, yes. Lenders look at whether your income is likely to continue.
| Status | Typical mortgage options |
|---|---|
| US citizen | All loan types |
| Green card holder | Generally the same as citizens |
| H-1B, L-1, E, O, TN and other work visas | Conventional loans at many lenders; FHA eligibility rules have changed, so ask lenders about current policy |
| EAD holders (e.g., pending green card) | Varies by lender and loan type |
| ITIN holders without SSN | ITIN mortgages from specialized lenders |
| Foreign nationals living abroad | Foreign national loans, often with large down payments |
Lenders commonly ask for your visa, I-797 approval, EAD, employment history and sometimes evidence that your status is likely to be renewed.
What lenders look at
Credit score
Many conventional loans need a score in the mid-600s or higher, and better scores get better rates. With limited US credit history, some lenders use “nontraditional credit” such as rent, utilities and phone payments.
Income and job stability
Lenders usually want two years of steady employment history, though recent graduates in the same field may qualify with less. Pay stubs, W-2s and tax returns are standard.
Debt-to-income ratio (DTI)
Your monthly debt payments, including the new mortgage, divided by your gross monthly income. Many lenders prefer DTI under roughly 43–45%.
Down payment
| Loan type | Typical minimum down payment |
|---|---|
| Conventional | 3–5% for some borrowers; 20% avoids private mortgage insurance |
| FHA | 3.5% (eligibility depends on status and lender) |
| ITIN mortgage | Often 10–20% or more |
| Foreign national | Often 25–40% |
Money from abroad can often be used for the down payment, but you’ll need to document where it came from, usually with bank statements and wire records.
Steps to buy a home
1. Check your budget
Think beyond the monthly mortgage: property taxes, homeowners insurance, HOA fees, maintenance (often 1–2% of home value per year) and utilities.
2. Get pre-approved
A lender reviews your finances and gives a pre-approval letter showing how much you can borrow. Sellers take offers more seriously with one. Compare at least two or three lenders.
3. Find a real estate agent
A buyer’s agent helps you find homes, make offers and negotiate. Ask how they’re paid; rules about buyer agent commissions changed in 2024, and you may sign an agreement upfront.
4. Make an offer
Your offer includes the price, earnest money deposit, contingencies (inspection, financing, appraisal) and closing date.
5. Inspection and appraisal
A home inspector checks the condition. The lender orders an appraisal to confirm value. You can renegotiate or walk away under your contingencies if serious issues appear.
6. Final approval and closing
The lender finalizes the loan. At closing, you sign documents, pay closing costs and the down payment, and receive the keys.
Closing costs
Plan for roughly 2–5% of the purchase price, including lender fees, title insurance, appraisal, taxes and prepaid items. Some can be negotiated or covered by seller credits.
Risks for visa holders
- Job loss or visa change: you still owe the mortgage, even if you have to leave the US. You could rent the home out or sell it
- Selling quickly can cost money after agent fees and closing costs
- Owning abroad later: renting out a US home from another country involves taxes, property management and possibly FIRPTA withholding when you sell as a foreign person
A home can still be a good choice if you plan to stay several years and your finances are stable.
Programs that may help
- State and local first-time homebuyer programs offering down payment help or lower rates
- Employer homebuying benefits
- HUD-approved housing counseling agencies, which offer free or low-cost advice
Some programs require citizenship or permanent residence, so check eligibility.
Checklist
- Check your credit and fix errors
- Save for down payment, closing costs and reserves
- Gather status documents, pay stubs, W-2s, tax returns and bank statements
- Get pre-approved by several lenders
- Choose an agent and neighborhoods
- Inspect carefully and read every document before signing
Monthly cost example
Buying a $400,000 home with 10% down, a 30-year fixed mortgage and rough estimates for other costs:
| Item | Monthly estimate |
|---|---|
| Principal and interest (on $360,000) | Depends on rate, often about $2,300–$2,600 |
| Property tax | $350–$700 depending on state |
| Homeowners insurance | $100–$250 |
| Private mortgage insurance (under 20% down) | $100–$250 |
| HOA fees (if any) | $0–$400 |
| Total | Roughly $2,900–$4,200 |
Also budget for maintenance and repairs. Compare this with your current rent and how long you plan to stay.
Rent vs. buy: a quick test
Buying often makes more sense if:
- You plan to stay at least five to seven years
- Your job and visa status are stable, or you have a green card
- You have savings beyond the down payment and closing costs
- Monthly ownership costs are close to local rent for a similar home
Renting may be better if you expect to move soon, your visa situation is uncertain, or local prices are very high compared with rent.
Documents lenders often ask for
- Passport, visa, I-797 approval notice, EAD or green card
- Two years of W-2s and tax returns
- Recent pay stubs and an employment verification letter
- Two to three months of bank statements
- Records for money transferred from abroad
- Explanation letters for large deposits or gaps in employment
Homeowners insurance and property taxes
Lenders require homeowners insurance. In areas with floods, hurricanes or wildfires, insurance can be expensive or hard to find, so get quotes before you make an offer. Property taxes are reassessed differently in each state. Some states offer a “homestead exemption” that reduces taxes on your primary residence; check eligibility rules, which may depend on residency and status.
Buying before your green card
Many people buy on H-1B or L-1 status while a green card is pending. That’s allowed. Just keep enough savings to handle a job change or a delay, and understand what you’d do if you needed to leave the US.
Choosing a lender
Not every lender understands visa-based applications. When you call, ask:
- Do you lend to borrowers on my visa type?
- What documents do you need to show my status and employment?
- What credit score do you require, and do you accept nontraditional credit?
- Can I use funds transferred from abroad for the down payment?
- What are your rates, points and total closing costs?
Get a Loan Estimate from at least three lenders. The standard form makes it easy to compare costs side by side.
After you buy
- Set aside money every month for repairs
- Review your property tax assessment and apply for any exemptions
- Keep your homeowners insurance up to date
- Keep records of improvements; they can reduce taxes when you sell
Key terms at a glance
- Pre-approval: a lender’s written estimate of what you can borrow
- Earnest money: a deposit showing you’re serious, applied at closing
- PMI: private mortgage insurance, usually required with less than 20% down
- Closing: the final meeting where ownership transfers and you get the keys
- Escrow: an account the lender uses to pay property taxes and insurance
