Would a F1 student on OPT qualify for mortgage loans?

Yes, you would likely qualify for a mortgage. Aside from your monthly income, the lender would consider your debt to income ratio. So, the mortgage amount that you may be approved for could be less than what you’re wanting (depending on where in the nation you are).

You will have to provide some documentation in order to fit into the risk profile of the lender:

– Documentation of your work history

– Documentation of your credit history

– Proof of income

If you currently use an international bank that has locations in the U.S., you might talk with that bank about the mortgage process. Since they already known your financial history, it makes it a bit easier for you to prove creditworthiness (although you say you have a credit score of 750 so proving that you are creditworthy shouldn’t be a real issue).

I would suggest two things for you to do:

1. Shop around for a mortgage. Check with your current bank. Check with credit unions. Also, ask others in your community that have gone through it. Get all of the information that you can.

2. Make sure that you buy the house in a good market. If you decide to sell the home at the end of your H-1B term, you want a good market. If the houses in a particular area just don’t seem to be selling for months on end, you might want to look in another area.

If you’d like to get legal advice concerning the home-buying process as an F-1 student who wants to transfer to H-1B status, visit LawTrades. We are a legal marketplace with a service known as Micro. Using Micro, you’re able to pay a low flat fee (usually $25) and you’re able to ask an experienced immigration attorney a question. You’ll get a custom answer within 48 hours. That should help put your mind at ease as you move through the process of transferring your visa and buying a home. Happy house hunting!