Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

Buying a house with DACA, I mean its the dream to own real estate, but is it risky? :( What if we lose DACA?? :X

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Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

I bought a house nearly a year ago without a single issue or condition in Maryland.

My loan is with a company called Caliber Home Loans, compared to multiple well-known banks Caliber Home Loans has an A+ reputation with BBB and great reviews on many other sites.

I was offered a loan with Bank of America and Wells Fargo and quickly declined them due to their large negative reputation on BBB and other review sites.

It didn't strike me as surprising that I was able to buy a home but I didn't know that some DACA recipients were having issues buying a home to begin with.

For the most part, banks look for good to excellent credit, good history of stable income (pay stubs, taxes, etc) and a 3% to 3.5% down payment. The rest, of course, will be up to your ability to pay and whether you continue with DACA or some other better legal status.

Neutrino, your statement also came to mind when I purchased my home. The way I see it... if I'm meant to have and keep a home then I will have the ability to do so.
If the day comes that our DACA is taken away (HOPEFULLY not or better yet - replaced by something better and/or permanent), then we will always have the option to sell the house....

Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

Ladies and Gents,

It was thanks to one of these exact same posts I was able to make the dream of purchasing a second home a reality! My entire childhood and life has involved working and striving for what I want. I noticed my hard work began to pay off during my university years. I was able to sustain paying school tuition from money I’ve earned for four years. During these years I attended Rutgers Business School and learned how manage my income so effectively that I’ve had quite the decent amounts of cashflow. It’s all about generating passive income and always remembering Warren Buffer rules when investing. “Rule #1: Never lose money, Rule #2: never forget rule #1.”
Another accomplishment was purchasing my first homer cash but after a few years of continuing to save I was eager and motivated to obtain a bigger second home. During the initial process, I consulted with 2 different banks. My credit score was okay and I obtained the pre-approvals without a hassle. I ended up signing a contract and offering for a home I loved. Once it was near closing, Bank of America decided to bail out on me. With such short notice from the bank and near closing my hopes were slightly shattered. I did not gave up and began to read forums posts and came across one that mentioned Ernesto Borunda. With little options and with great positive feedback I decided to give Ernesto a buzz.
The rest is history as some may say. Ernesto and Stacy and the entire team are superb!! Words can’t describe how professional they are! Team truly works to meet the final objective of getting you approved for the loan! Completely encourage anyone seeking and who meets the minimum criteria for a home purchase, to contact Ernesto and the team ASAP!
Closing occurred July 21st and it was a conventional loan!

Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

Anyone have experience getting a jumbo loan with DACA status? I live in the bay area and will need s jumbo loan since everything here is easily $1M+

Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

I was never asked about my status. My loan surely went through as if I was the average Joe Blow. Obviously I'm not because I'm above average but u get the point ;)

Jumbo loans might be a different story, the bigger the loan the riskier.

Re: Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

Yes I can also vouch for Ernesto Borunda. I recently closed on a home purchase (June 30th, conventional, 4.25%) with his lender, first choice loan services.

He is very easy going and always available to help, which was very convenient because he is all the way in Arizona and I am in the east coast. Kind of a funny thing, I actually got in touch with him from reading one of the posts a while ago. By far the best decision ever to have contacted him. Now I am a proud first-time homeowner.

Re: Deferred Action (DACA) Recipient - Business Loan Options
 

Hi, i just found this awesome forum researching on getting a business loan being a DACA recipient. Does anybody here have applied for a business loan and gotten approved?