DACA Mortgage Loans – Yes, You Can

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Chicago DACA FHA Loans

The world of DACA mortgage loans has changed recently: the FHA is now insuring mortgage loans for DACA status recipients, as long as they have a valid Employment Authorization Document, a social security number and meet the other FHA requirements.

So, if you’ve got DACA status and want a low-interest mortgage loan, start looking.

Remember, FHA loans must be used to purchase / refinance a primary residence

  • (1-4 unit properties;
  • condos must be approved,
  • interest rates are lower than on conventional loans,
  • so are the down payment required
  • but there’s upfront mortgage insurance and, on 30-year loan monthly insurance that does not go away, no matter what how much equity you have).

 

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