Owning a house with Daca
 

Wife and I decided to buy a house after 6 years of renting apartments. We walked into a new subdivision in a suburb outside of Dallas. We talked to the people that were selling the houses and the first thing that we asked was if we qualified with a work permit. (My wife has Daca also. ) They said it wasn’t a problem that they had sold to people with work permits before. They just asked if we had good credit. We sure did. They approved us for a loan with a loan officer that works with them.
We set up a meeting with him to discuss the loan for the house while at the meeting he asked what kind of work permit we had. We told him it was a renewable 2 year permit. He asked us if we had renewed it more than once before and we said yes. He asked for a copy of our expired EADs our Drivers License and he said that we might need to get our Mexican passports. Which we didn’t have. He told us that he might be able to work around it. Which he did. We qualified for a government zero down program but we would have to send in a lot of stuff to the government so we decided not to go that route.
The process was pretty much easy they just asked for copies of our expired EADs along with our current ones. We ended up getting an FHA loan fixed for 30 years. We closed on the house in less then a month.
Oh and they require bank statements for the past few months. And a lot of signatures too.

Re: Owning a house with Daca
 

Hey brother, first of all congrats on your great accomplishment. I am also looking into purchasing a home. Your situation sounds similar to mine as my wife also has DACA, except she doesn't work because child care is expensive. If you don't mind me asking, how much was the amount you financed and how much is your monthly payment. You don't have to be exact just a ballpark figure will do. If you want to disclose that info, I totally understand. I am just trying to get an idea since I am the only one that works and I live in SoCal where real estate is not cheap. Anything would be helpful. Once again congrats.

Re: Owning a house with Daca
 

Thanks!!!
From what I know, California is waaay more expensive then here in Tx. I got a brand new 3 bedroom 2 bath for 225k. I put down 8k and monthly payments for 1800. Childcare is very expensive. Good thing my mother in law doesn’t work so she takes care of my daughter but of course we pay her which isn’t as much as how much childcare is.

Re: Owning a house with Daca
 

Here in the Bay Area it’s unbelievable. A house in one of the neighborhoods close to me is going for $800,000 and it’s burnt from a fire. $800k for a house that’s not even liveable. Crazy.

Source:

https://www.google.com/amp/www.newsw...882115%3famp=1

Re: Owning a house with Daca
 

Damn that’s crazy. No wonder a lot of people are moving down here to Texas. They are building houses like crazy down here.

Re: Owning a house with Daca
 

Indeed SoCal is very expensive. You're lucky to have your mother in law. Me on the end I am screwed because most of my family lives in Texas (Fort Worth area) and my mother in law works. After visiting my family a couple of times, Texas is not a place I would move to, It's nice and all but just can't see myself moving there. I appreciate your reply . Thanks

Re: Owning a house with Daca
 

Silicon valley is even worse. Try 1.2 million for a house thats falling apart.

Re: Owning a house with Daca
 

Damn. Y’all need to come down to Texas!

Re: Owning a house with Daca
 

If you don't mind me asking, where in DFW did you buy the house? That is really good price!

Re: Owning a house with Daca
 

Thank you for making the thread on this! Hopefully soon I will be able to purchase my first home! :)