The Loan Tree is New Jersey’s leading provider of DACA or DREAMER mortgages.  Please read information below to see how you can qualify for our DACA Mortgage AND also possibly qualify for our down payment assistance program to assist you even further in purchasing your first home! xDACA_Home_Loan_Program0.jpg.pagespeed.ic.7Y3Vo0jbVb

DACA (Deferred Action for Childhood Arrivals) is a government program created for undocumented individuals brought to the United States as children who were raised in the U.S. and primarily identify as American, even though they are currently in the country unlawfully. They are sometimes referred to as “DREAMers” as they benefit from the Development, Relief, and Education for Alien Minors Act, which grants temporary conditional residency with the right to work.

Mortgage-Loans-for-Dreamers-FEATURECurrent estimates put nearly 700,000 individuals in the DACA program. With many of these young adults aging into traditional American milestones like homeownership each year, it makes sense for DACA recipients to investigate options for buying a home. As of 2021, there are several types of home loans available to DACA recipients, including FHA loans. Let’s take a look at how DACA recipients can obtain a FHA home loan and buy a house with an undocumented status.

DACA & Down Payment Assistance Requirements

DACA borrowers applying for an FHA loan will need to provide need the following.

  • A minimum 3.5% down payment (can be provided for you) and a minimum 600 credit score
  • The property must be the borrower’s primary residence
  • The borrower must have a valid Social Security number (SSN)
  • The borrower must be eligible to work in the U.S. and provide an Employment Authorization Document (EAD) stating such to the lender
  • The EAD must be issued by the U.S. Citizenship and Immigration Services (USCIS) in the C33 category
  • Any previously expired EAD card(s) must be included with the application

Other than the items needed above, a DACA mortgage applicant would go through the same process as an FHA Mortgage applicant.

Why not call or email us for additional information regarding this exciting program at 732-988-5000 x202 or akelly@theloantree.com. Or you can click here MORE INFORMATION and we will respond to your request as soon as possible.