What type of Fannie Mae loans are open to DACA recipients?

What type of Fannie Mae loans are open to DACA recipients?

Fannie Mae’s conforming loans are also open to those in the DACA program. Most mortgage lenders offer loans backed by Fannie Mae, and these include a wide variety of options like: The 3% down Conventional 97 loan The 3% down HomeReady loan for low-income buyers

What types of homes do you lend to DACA borrowers?

In addition to single-family homes, we work with eligible Dreamers to provide mortgages on second homes, 2 to 4 unit properties, or even investment properties. We currently lend to DACA borrowers in Florida, Illinois, Indiana, Michigan, and Tennessee looking to buy any of these above home types.

Can DACA recipients get FHA loans in 2021?

DACA FHA Loan Eligibility Early in 2021, upon the change of the presidential administration, the Federal Housing Administration (FHA) issued a massive change to its policy on home loans for DACA recipients. Previously, those without lawful residency were unable to obtain an FHA loan.

Can DACA recipients get low down payment home loans?

The Federal Housing Administration (FHA) announced it had changed its policy on DACA home loans. From this day forward, FHA is willing to approve home loans for DACA recipients — meaning they’ll get access to the low-down-payment FHA mortgage program that’s so popular with U.S. home buyers.