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.
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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Pre-Qualify NowMyth #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.
