Can I buy as a "Dreamer" (DACA) or if I file with an ITIN?

Yes! You can buy with DACA (Deferred Action for Childhood Arrivals) status!

What you need to know . . .

You will need an unexpired EAD (Employment Authorization Document), essentially a work permit or visa, that reflects category C33. Government entities are currently not ensuring "DACA" loans, you would have to qualify for a conventional loan.

Guidelines frequently change since this is a sensitive political issue, however, for the time being conventional loans are an option. If you have been on the fence about purchasing a home as a "dreamer", now may be the right time to apply for a home loan.

If you have a social security number . . .

If you have a social security number to file taxes with, you can qualify for a 3% down first time buyer program, or put down more money if you like. Your interest rate will be based off of your credit score, the higher the score, the lower your interest rate.

What if I have an Individual Taxpayer Identification Number (ITIN) instead of a social?

If you do not have a social security number, but file under an ITIN, you can still qualify for a home loan, however, it is considered "sub prime". This means that the interest rates will be a little higher and you will be required to come in with more down payment than if you have a social security number. The guidelines for these loans consistently change, if you have been turned down previously for an ITIN loan, it may be worth it to try to qualify again.


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