I've been pre approved where I live but untimely I don't think it will work out because they don't know anything about DACA. I've seen Ernesto's name in a bunch of forums related to DACA. I'm glad that you had a good experience. I will give him a call and hopefully he can help me.
Thank you for sharing.
Quote:
Originally Posted by bonescones
I wanted to share my knowledge and experience because I'm sure there will be others that will need to apply for a mortgage. Being a DACA recipient, most lenders will tell you that you either 1. Don't qualify for a home loan with them, or 2. Qualify only for an FHA loan or Foreign National loan. Of those two, FHA is a better way to go, though still not ideal as you'll be paying mortgage insurance (1.75% up front and .80% monthly). However, we have more options!
I found a loan officier who is passionate about helping the immigrant community, and has experience working with DACA recipients. Depending on your other qualifications, he can even approve you for a Conventional 30 year fixed loan. The interest rates will be a little higher than normal because your loan will be more difficult for the lender to sell on the secondary market. I found this to be the best option for me, and received final approval within 3 weeks of my application.
Below I'll include the loan officer's contact information. I encourage anyone looking to finance a home to get in touch with him, even for informational purposes only. If you have any questions, feel free to reply to this thread or private message me. Good luck!
-SL
Ernesto Borunda
Office: 480.719.4897
Mobile: 602.885.8112
Ernesto@ErnestoBorunda.com
www.ErnestoBorunda.com
https://www.facebook.com/DreamerFinancing |