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Top 5 Myths About H-1 Visa Holders and Loans Debunked: A Guide by Dream Home Mortgage

Mortgage Lender Industry

If you are an H-1 visa holders in the US and planning to buy a home, you may have heard various myths surrounding visa holders and loans. These myths often discourage potential homebuyers from applying for a mortgage, leading them to miss out on the opportunity of owning their dream home.

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At Dream Home Mortgage, we are dedicated to helping visa holders achieve their homeownership dreams. In this article, we debunk the top 5 myths about visa holders and loans, empowering you with the knowledge to make an informed decision.

Myth #1: H1 visa holders are not eligible for a mortgage

Many H-1 visa holders assume that they are not eligible for a mortgage due to their non-permanent resident status. However, this is a common myth. Visa holders are eligible to apply for a mortgage, provided they meet the lender’s requirements. At Dream Home Mortgage, we offer mortgage solutions tailored to the needs of visa holders, ensuring that you can achieve your homeownership dreams.

Myth #2: H-1 visa holders need a larger down payment than US citizens

Another common myth surrounding visa holders and loans is that they need a larger down payment than US citizens. This is not entirely true. The visa holders can qualify for a mortgage with a down payment as low as 3%. However, the down payment requirements may vary depending on the lender’s policies and the borrower’s credit score.

Myth #3: Visa holders have to pay higher interest rates

The visa holders may also believe that they have to pay higher interest rates than US citizens when applying for a mortgage. While it is true that some lenders may charge a higher interest rate for non-US citizens, this is not always the case. At Dream Home Mortgage, we offer competitive interest rates for visa holders, ensuring that you get the best possible deal.

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Myth #4: H-1 visa holders can only get a mortgage from specific lenders

Some visa holders may think that they can only get a mortgage from specific lenders that specialize in working with non-US citizens. However, this is not true. The visa holders can apply for a mortgage from any lender that offers mortgage solutions to non-US citizens, including Dream Home Mortgage.

Myth #5: H-1 visa holders cannot get pre-approved for a mortgage

Finally, some visa holders may think that they cannot get pre-approved for a mortgage due to their non-permanent resident status. This is a myth. The visa holders can get pre-approved for a mortgage, which can give them an advantage when making an offer on a home. Pre-approval shows sellers that you are a serious buyer and have the financial means to purchase their property.

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At Dream Home Mortgage, we offer pre-approval services for visa holders, ensuring that you can shop for your dream home with confidence. As an expert mortgage broker for H-1 visa holders, we have debunked the top 5 myths about H-1 visa holders and loans. If you are an H-1 visa holder looking to buy a home, do not let these myths discourage you from applying for a mortgage. At Dream Home Mortgage, we are committed to helping visa holders achieve their homeownership dreams. Contact us today to book a free one-on-one consultation with one of our expert mortgage consultants.

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