Adjustment of Status

[JoeF]

That's BS. A friend of mine bought a condo just fine while he was still on H1. And lots of PRs buy houses or condos.
Go to another lender.

[nickypalmer]

Adjustment of Status

I am currently in the final stage of my I-485 and have been informed that I should have my greencard by April 04. However, I would like to buy a home prior to April and have been told by a lender that permanent residents cannot purchase homes. I wondered if I am considered a legal permanent resident under the adjustment of status, or do I have to wait until I have the green card to be considered a permanent resident? Thanks for any advice.

[nickypalmer]

Buying a house on a visa

Thanks for your info! Do you know if your friend had to put down 20%? If not, do you have any idea what company financed his mortgage?

Cheers!

[Kandav04]

Adjustment of Status

Can you tell where did you file your 485 and what is your receipt date ?

[JoeF]

Re: Buying a house on a visa

"Do you know if your friend had to put down 20%?"

Not as far as I know. He was treated just like any other borrower.

"do you have any idea what company financed his mortgage?"

No.But there are so many lenders out there, it should be easy to find one who knows what they are doing.

[nickypalmer]

485

I filed in Los angeles, CA. My receipt date is April 23rd 2001.

Thank you.

[Kandav04]

485

Is it Apr 23rd 2001 or Apr 23rd 2002 ? Because Now they are processing of Dec 16th 2001.

If it is Apr 23rd 2001 by the time you could have got your GC.

[nickypalmer]

485

April 2001. How long do you think it will be?

[nickypalmer]

485

Oops, April 2002.

[Kandav04]

485

I don't know. Now it is too slow and we can't predict that.

[ImmiLaw]

Re: 485

California is a very slow center becasue they have to deal witha lot. Concerning the house purchase, do you have your passport stamped? OR you will have your GC interview in April?

If you have your stamp, you should be all set. Get a different lender. WE can understand because for them it's more of a security issue and there is lot of $$ involved, they want to make sure that you won't just quit on them. Good luck, you should be fine.

[whatis485doing]

I already sold my house

I bought my house in CA during 2000 when I am in F-1 practical training. I sold my house in 2003 while I am in 485. My down payment was 0% and the lender gave me skyhigh interest @ 8.75. Anyway, my point is they shouldn't care your status in US, instead they care if you could pay it back.

[Vsyc]

Home Owner Club

Hi, hope by this time, you already a home owner. I bought my first house around June while my 485 case still pending. I have no problem to get a loan. I was paying $0.00 on down payment only closing cost. It doesn't matter how your status is just like you buying a car or some furnitures but it DOES matter on your credit report and credit score. This is another important lesson we have to learn after we stable our legal status. Check to see your credit history.

Good luck on your American dream, you won't regret it! :rollin