As of January 20, 2021, eligible DACA recipients can obtain a home loan through Federal Housing Administration (FHA) programs.
DACA recipients, also known as Dreamers, can apply for the FHA’s full range of mortgage loan programs. Some come with low down payment options, others with lower credit score requirements, and another allows borrowers to finance the cost of renovations with a home purchase.
The following criteria are required for loan approval:
- Have a valid Social Security number.
- Finance property that will be the borrower’s primary residence.
- Provide an Employment Authorization Document, issued by the U.S. Citizenship and Immigration Service (USCIS), to prove eligibility to work in the U.S.
- Meet the same program requirements as any U.S. citizen.
If you or anyone you know may benefit from this exciting development please feel free to reach out.
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