Financing a house with pending GC application

[aznhouston 132]

I'm wondering if someone was able to get a loan while having a pending GC? I just got a very good job offer so we are thinking of buying a house. I'm not so sure if our loan application will be denied for me not being a GC holder yet?

[Russ&Caro 1,549]

The problem is not being a GC holder, the problem is having a credit rating. I would definitely explore the possibility if I were you. Start with non-profit mortgage entities in your state or city that often can put together financing for a 1st time home buyer that is even more favorable than an FHA loan. These non-profit entities often have home buying classes or advisors that can coach you on increasing your credit rating. Good luck.

[aznhouston 132]

3 minutes ago, Russ&Caro said:

The problem is not being a GC holder, the problem is having a credit rating. I would definitely explore the possibility if I were you. Start with non-profit mortgage entities in your state or city that often can put together financing for a 1st time home buyer that is even more favorable than an FHA loan. These non-profit entities often have home buying classes or advisors that can coach you on increasing your credit rating. Good luck.

Oh thanks for the input. I have been building credit for 4 years and my score is about 740. Just wondering if they would disqualify me due to not having a GC yet. Defo trying.

Edited November 5, 2018 by hoangthaihuy

[Russ&Caro 1,549]

Then you're good to go!

 

No bar on GC holders obtaining a mortgage or buying real estate.

[SusieQQQ 11,586]

On 11/5/2018 at 6:33 AM, hoangthaihuy said:

Oh thanks for the input. I have been building credit for 4 years and my score is about 740. Just wondering if they would disqualify me due to not having a GC yet. Defo trying.

Not a problem at all, I’ve had friends on both H and O visas get mortgages. The usual problem for new immigrants is not having 2 years of a credit rating (though even that can be overcome), so you’re good to go.