This article was last updated: September 1, 2019.
“If you have current C33 status and have tried to look up your eligibility in securing a home loan, this article is for you.”
“We’re not changing our existing policies, but providing additional guidance to help lenders determine eligibility for non-U.S. citizen borrowers.,”–Fannie Mae March 22, 2019
As long as your DACA is current, you’re considered “legally present”.
Fannie Mae considers a DACA borrower legally present in the United States if:
- he/she has a Social Security Number (SSN)
- he/she has current, verified status, which may be documented
by a valid employment authorization document (EAD), or other documentation showing immigration status is current (e.g., Green Card, work visa, etc.)
Renewing your status every two years DOES NOT negatively factor your being considered of a Mortgage with Fannie Mae
“If a borrower is reliant on income for which documentation of continuity is required, the mere fact that a borrower has current, verified status does not impact the continuity of income analysis. For example, if a borrower can provide documentation of 3-year income continuity when required, the fact that their status is renewed only every 2 years is not a factor — the borrower is legally present and has met the continuity of income requirements.”-Fannie Mae March 22, 2019
Please keep the following in mind:
- Lenders retain discretion as individual borrower situations differ.
- Lenders can continue to decide what type of documentation is appropriate and what can be retained aspart of the loan file to show that a borrower is legally present.
- As with all Fannie Mae policies, subsequent changes to the law and its application may cause us to re-evaluate our policy on this matter prospectively.
If you’re looking into buying a home, look for a lender that has reputable experience in Fannie Mae loans. If a lender says they don’t accept DACA, find a lender that will!
At your convenience , I’ve linked the source PDF from Fannie Mae as well should you need to reference!