Deferred Action (DACA) Recipient - Home Loan Mortgage Options
 

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
[email protected]
www.ErnestoBorunda.com
https://www.facebook.com/DreamerFinancing

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

Thank you, SL! It was a pleasure to serve you. Our company recently approved a new program that improved the interest rates we can offer for DACA loans. Now is much easier to place on the secondary market. No longer higher rates with DACA.

We would love to be of service to you and your families.

Ernesto Borunda

www.DreamerHomeLoans.com

www.DACAMortgage.com

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

Hello everyone. I am a DACA recipient, and I want to share my story about buying a house with DACA. A few months ago, I decided to buy a home. I thought having a car loan with my local credit union wouldn’t be much of a hassle. After contacting Smart Financial Credit Union, I was surprised to learn that they no longer accept DACA for car loans nor mortgages. I found out that you must be a permanent resident or us citizen to qualify with them. I did some research and contacted a few of my local credit unions, and I got a no for an answer. Some loan officers said they would return my phone call which they never did. I contacted BB&T since they had a page designed for DACA recipients with some information regarding mortgage loans. After talking with a BB&T representative, he had no idea what I was talking about what program I mentioned. I once again was told they would return my call, but they never did.
I came across this thread and found out about Ernesto Borunda in Arizona. I was a little hesitant to call, but I did. He knows who we are and what DACA is. He was very polite and attentive the whole time. After providing him with information about financials, he was able to pre-approve me within a week. I was able to get a very low mortgage interest (though that will depend on your creditworthiness) and a closing within 45 days after selecting my home. My whole experience with First Choice has been amazing.
Ernesto and his team were always available to answer any of my questions. Give him a call and I'm sure he can guide you in the right direction for your home buying process.

Ernesto Borunda
602-8858112

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

You have my dad's name

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

Ha, these sound like a paid advertisement but I wanted to chime in. I saw the posting about Ernesto on the board before. I contacted him and he was very prompt in answering phone calls and emails. He took the time to talk to me (at least half an hour) about what my options are as I was trying to refinance out of my current home deal. Ultimately it didn't make financial sense for me to refinance with Ernesto's company and I ended up going with a local broker (i have GC now), but I wish I had found Ernesto before making my original deal.

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

no, is not a paid advertisement. I am not a green card holder yet and my options were very limited. This was my second home purchase. My husband and I bought a home with an itin number more than 10yrs ago, and we plan to buy more properties soon, now that we have found a lender to work with us.

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

These links are dead not even a year old

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

Thank you all for helping us share and spread the word. Even after the election, we are still able to help families with DACA buy a home.

www.DACAMortgage.com

www.DreamerHomeLoans.com

www.DreamerFinancing.com

www.DreamerHomeLoans.com

www.DreamerHomeLoan.com

www.DACAHomeLoans.com

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

After many years dreaming about buying our own house, my wife and I are now living the dream of owning the house of our dreams. We’re so thankful that God led us to finding Ernesto Burunda and his team to help us get a mortgage. We were able to get a home loan and finally close the purchase of a house last week.

Being a DACA recipient, means that many banks will not finance or will make it a really hard process. With Ernesto and Stacy from First Choice finance, we had an straight forward smooth experience.

If you have DACA and can afford buying a house, don’t wait another minute, call Ernesto, you will not be disappointed. This is a legit and real testimonial of a truly satisfied client. Here’s his contact info

Ernesto Borunda
Office: 480.719.4897
Mobile: 602.885.8112
[email protected]
www.ErnestoBorunda.com
https://www.facebook.com/DreamerFinancing

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

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.

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

_________________
Daca, food, politics, the voice, DISCORD ME AT: https://discord.gg/9mnACGy

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?