Getting Mortgage While I751 is Still Pending

[prassu 0]

Hi Guys,

I and my wife are planning to buy a house, I am a conditional permanent resident and it expired a couple of months ago. I have applied for removal of the condition but the wait time on CSC is around 14 months. Can I apply and get a mortgage while my case is still pending and not having valid Green Card? I spoke with a local credit union and they said they require a valid Green Card. I was even denied an investment account with the receipt from USCIS. If I get I551 stamped on my passport, will it help? We would get a mortgage with my Wife's name but her income is low and credit is not so good. 

Any help will be appreciated.

Thank you!!

[dnp2014 44]

21 minutes ago, prassu said:

Hi Guys,

I and my wife are planning to buy a house, I am a conditional permanent resident and it expired a couple of months ago. I have applied for removal of the condition but the wait time on CSC is around 14 months. Can I apply and get a mortgage while my case is still pending and not having valid Green Card? I spoke with a local credit union and they said they require a valid Green Card. I was even denied an investment account with the receipt from USCIS. If I get I551 stamped on my passport, will it help? We would get a mortgage with my Wife's name but her income is low and credit is not so good. 

Any help will be appreciated.

Thank you!!

It depends on the loan officer and underwriter reviewing the file. Some lenders will accept. Don’t expect any small lenders to accept it. You can try with chase, wells or bac. 

 

I received loan approval with extension letter. It was almost clear to close but the seller could not give me a clear title so the closing was delayed. I was just waiting for the seller to be clear of all the issues but looks like now the bank might ask for copy of renewed gc 

 

Thank God we have the approval letter 

[nightingalejules 678]

We've had numerous discussions in this thread about this topic. It might help you to do a search in the search bar at the top right of your screen.

 

This is one of those situations where you will have to educate your bank. Get all the necessary information to prove that the extension letter renders your expired green card "valid" - there is a lot of information out there, and with how long it's taking to get our approvals these days, it will only get more common. Keep (patiently) explaining the situation, and if your bank refuses to listen to reason, go to a different bank (and I would move all my accounts out of the old bank, while I was at it). 

 

Worst case scenario, you can make an InfoPass appointment and get the I-551 stamp in your passport, which actually IS a temporary green card (I-551 is the official document name of the green card, so a stamp is considered to be exactly the same as a valid green card).

 

 

[prassu 0]

Thank you Guys!! It helps.

[annamaria101 1]

Veterans Home United just denied our VA loan because they said my permanent residency is conditional. I have I-551 stamp on my passport valid until March 2019 while waiting for 10-year green card. I should have my new green card by now but due to some delay in USCIS, I don't have it yet. That's why I went to USCIS office to get I-551 stamp and the loan officer just told me they won't accept it. Their reason is my permanent residency is conditional. Aren't all 2-year green cards called conditional, and when you apply to renew that's when you remove the condition? In my case the condition is only to make sure our marriage is legit since I came here through K1 visa. We're still married and have kids so no reason for them to deny and the USCIS officer just extended the validity of my permanent residency to March 2019. I can't believe mortgage company is denying me because I'm just a permanent resident. I thought I have the same rights with US citizens except to vote. It doesn't feel right I was denied because of my immigration status, I am here legally. I see a lot of postd where a 2-year greencard holder was approved but I felt like I was singled out. It doesn't feel right at all, I just got the call earlier and we're supposed to close Friday. From the first day we applied, they already know my permanent residency status,  but they are denying me 2 days before closing after everything we did and paid for. Just didn't feel right that they are denying because of immigration ignorance. I never felt this huge discrimination and it sucks so bad.  

 

[asdfzc 6]

Actually it happened to me last year while I am waiting for ROC. My card was expired but the extension letter valid. It still take bank up to 6 weeks to admit it. First of all, they said its not valid, then I emailed my lawyer and CC the banker and underwriter. then they approved it without any questions. My bank is Chase. 

 

I believe someone knows the policy will smooth the process

[annamaria101 1]

1 hour ago, asdfzc said:

Actually it happened to me last year while I am waiting for ROC. My card was expired but the extension letter valid. It still take bank up to 6 weeks to admit it. First of all, they said its not valid, then I emailed my lawyer and CC the banker and underwriter. then they approved it without any questions. My bank is Chase. 

 

I believe someone knows the policy will smooth the process

We're too discouraged and upset at the loan officer to request for them to consider re-approving. We might just sue them for discrimination and be refunded of the amount that we paid for the whole process.  They were okay with the rest of the loan then they suddenly deny it because accordingly they have a rule conditional permanent residency aren't allowed 2 days before closing, after signing the closing documents, after we already scheduled transfer of all our service, after we broke our lease, etc.

[asdfzc 6]

13 minutes ago, annamaria101 said:

We're too discouraged and upset at the loan officer to request for them to consider re-approving. We might just sue them for discrimination and be refunded of the amount that we paid for the whole process.  They were okay with the rest of the loan then they suddenly deny it because accordingly they have a rule conditional permanent residency aren't allowed 2 days before closing, after signing the closing documents, after we already scheduled transfer of all our service, after we broke our lease, etc.

I am so sorry to hear that. if they have the policy, please ask them to show it to you otherwise you could start a law sue with them. Most of banker dont know immigration rule and made up things like that. 

Conditional permanent residency is good enough because I am successful to get the loan from Chase, so it not national rule, totally depends on bank.

[annamaria101 1]

Update on my case: I noted on Wednesday they denied my loan for sole reason of being a conditional green card holder even though I presented stamped I-551 on my passport and details of my pending I-751 application. We have to hire a lawyer to educate the mortgage company that this is discriminatory and unconstitutional. I know home buying is not a right but being denied for this sole reason (immigration status) is where discrimination lies as we should not be treated differently from non-conditional green card holder and US citizens. So it went to their legal department and corporate office, and got a call yesterday from someone that has high position in the company that they will do the right thing and proceed with the loan. We are now cleared to close and will close on Tuesday. If this happens to you, LAWYER-UP!

Edited March 24, 2018 by annamaria101

[AndreaC 0]

On 3/24/2018 at 2:26 PM, annamaria101 said:

Update on my case: I noted on Wednesday they denied my loan for sole reason of being a conditional green card holder even though I presented stamped I-551 on my passport and details of my pending I-751 application. We have to hire a lawyer to educate the mortgage company that this is discriminatory and unconstitutional. I know home buying is not a right but being denied for this sole reason (immigration status) is where discrimination lies as we should not be treated differently from non-conditional green card holder and US citizens. So it went to their legal department and corporate office, and got a call yesterday from someone that has high position in the company that they will do the right thing and proceed with the loan. We are now cleared to close and will close on Tuesday. If this happens to you, LAWYER-UP!

Thank you sooooo much for this! I literally started crying because my husband is on that same situation (pending green card) and our closing date is really soon! I was so afraid they could deny the loan! I’ll get a lawyer if anything thank you again!