Eligible US Visas When Purchasing a Home in Kansas City

Buying a home is a significant milestone. For non-U.S. citizens, understanding eligibility requirements is crucial when purchasing property. In the U.S., non-permanent residents can buy homes, but their visa type must meet specific criteria. This blog will cover the types of eligible visas when purchasing a home. We’ll focus on those that allow securing a mortgage and achieving homeownership in Kansas City.

Understanding Visa Eligibility for Home Purchase

When buying a home, not all visa types are eligible. Mortgage lenders require buyers to have visas granting extended U.S. residency. This ensures the buyer has a stable income and can meet mortgage obligations. Below, we’ll explore the most common eligible visas when purchasing a home.

E-1, E-2, and E-3 Visas

The E-series visas, including E-1, E-2, and E-3, are widely accepted for purchasing a home. These visas are issued to nationals of countries with which the U.S. maintains a treaty of commerce and navigation. The E-2 visa is recognized because it is usually granted to investors and business owners. This financial stability is crucial for lenders.

H-1B and H-2B Visas

The H-1B visa is well-known among professionals in specialized fields such as IT, engineering, and finance. Individuals on H-1B visas can secure mortgages because this visa allows them to reside and work in the U.S. The H-2B visa, granted for temporary non-agricultural work, qualifies under certain conditions. Visa holders must have steady income and job security to be eligible.

L-1A and L-1B Visas

L-1 visas are granted to intra-company transferees in managerial positions (L-1A) or those with specialized knowledge (L-1B). These visas are favorable because they allow the holder to live in the U.S. for an extended period. This often leads to permanent residency, making lenders more comfortable offering loans to L-1 visa holders.

NAFTA/TC or TN Visas

The TN visa, available under NAFTA, is for Canadian and Mexican professionals working in the U.S. This visa is advantageous for homebuyers because it can be renewed indefinitely. The TN visa’s stability makes it a favorable option for lenders and buyers.

G-Series Visas

G-series visas, particularly G-4 visas, are granted to employees of international organizations like the United Nations or World Bank. Although G-series visas have specific conditions, many lenders view G-4 visa holders as eligible candidates. Stable income and long-term employment prospects enhance their eligibility for home loans.

Learn: Employment Contracts or Offer Letters

Important Considerations for Visa Holders

While the above visas are generally accepted, each lender may have specific requirements. Some lenders require a certain credit score or a down payment of at least 20%. They might also ask for proof of consistent income. Visa holders may need to provide additional documentation, like a history of visa renewals or an employment authorization document (EAD).

Visa holders should be aware of the implications of changing jobs or leaving the U.S. while holding a mortgage. Such changes can affect your ability to continue making payments, so it’s crucial to maintain a stable employment situation and keep your lender informed of any significant changes.

Benefits of Purchasing a Home in Kansas City

Kansas City offers a thriving real estate market with affordable housing prices and a lower cost of living. Visa holders can benefit from Kansas City’s welcoming community and strong market growth. Whether settling down or investing, Kansas City provides an excellent opportunity for long-term stability.

Conclusion: Take the Next Step Toward Homeownership

If you hold an eligible visa and are considering buying a home in Kansas City, now is a great time to act. At Metropolitan Mortgage, we specialize in helping non-U.S. citizens navigate the home buying process. We ensure you have the right loan options tailored to your situation.

Contact us today to learn more about how we can help you achieve your homeownership dreams in Kansas City. To get started on your pre-approval click here.