Had you come to the United States in your childhood with your parents? Passed years in this country, now, want to buy a home? You are not alone. There are many, who want to realize their dreams of homeownership. But as you had entered unlawfully, you may face difficulty to get loan approval.

Due to your DACA status, many mortgage lenders may be a little skeptical to allow your loan approval. What to do? Well, opt for lenders who offer DACA mortgage loans in Houston. It is a specially designed home loan program for buyers who come to this country unlawfully and want to buy a home.

Are you a little nervous? Wondering whether you can ensure approval?  Following these things can help you get approval.

  1. Improve the credit score

It is the fundamental thing that lenders check before applying for a home loan program. Your credit score reflects your creditworthiness. So, a higher score means better creditworthiness, and a better chance to get fast approval. But how to know your score? Check it from three major credit bureaus of the U.S.

And if you find that it can’t impress your lender, then take steps to boost it up. And the ideal way to do so is to clear all your previous debts, not apply for any new credits, and check for errors, and if there are any, rectify these as soon as possible. With all these, you can improve your credit score and ensure approval.

  1. Save for the down payment

It is the second important thing that lenders focus on. Down payment refers to an initial up-front partial payment that you need to make when you buy a home on credit. As there is no fixed requirement, it varies from loans to loans and lenders to lenders.

Although 580 is considered enough to get approval for a DACA loan, the heavier the payment, the more easily you can get approval. With a decent down payment, you need to borrow less. So, the lender will be ready to offer approval easily.

  1. Arrange the documents

Like any other home loan programs, lenders will also ask for some documents for DACA loans. The general statements required by the lenders are proof of your legal status to live and work in the U.S., current Employment Authorization document, Social Security number, previous expired EAD card, bank statements, and additional income documents.

Some lenders can also ask for some other documents based on your situation. So, it would be better to ask about the documents and arrange them accordingly.

Although it is not possible to get approval for an FHA loan as a DACA borrower, you can easily get approval for conventional home loans. So, know all the loan requirements, shop for lenders, compare rates, and apply for the loan today!


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