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-   -   Home financing denied while on EAD (https://immigrationvoice.org/forum/forum107-interesting-topics/24133-home-financing-denied-while-on-ead.html)

vrbest 03-10-2011 08:26 AM

I would say we all need to know our status well first :) There is no such status as EAD. It is Adjustment of Status (AOS) Pending. I had done multiple refi and all I had to tell them is GC pending. They get copy of EAD just to have a reference that I am legal here at the time of application (since it has an end date). Had no issues so for.

Quote:

Originally Posted by ajaysri (Post 2238775)
I think the key is the person approving the loan needs to understand immigration to certain extent. Its important that we let the officer know up-front about our immigration status so that there are no assumptions and surprises.


gc_check 03-10-2011 09:38 AM

Quote:

Originally Posted by vrbest (Post 2415410)
I would say we all need to know our status well first :) There is no such status as EAD. It is Adjustment of Status (AOS) Pending. I had done multiple refi and all I had to tell them is GC pending. They get copy of EAD just to have a reference that I am legal here at the time of application (since it has an end date). Had no issues so for.

vrbest, Who is your lender. Can you name the bank you worked with. It might help the some in this group. I have done a Mortgage and 2 re-fi in the past with no issues, but last time, I had issues with Bank of America, Wells Fargo and one other bank (don't remember name). The reason was being on AOS/EAD, They were fine with H1b, but did not understand what EAD / AOS is. It all depends on the underwriter and if he is not knowledgeable on the Visa issues, then you are done. You can't ask for an alternate underwriter. I was able to secure through a credit union though.

sukhwinderd 03-10-2011 09:54 AM

it depends on the knowledge of loan processor.
 
i have friends who had issues with suntrust, boa etc. but they gave references of people who were approved from the same banks while on adjustment of status and they were finally approved. my loan is with Amtrust and did not have any issues, i am on EAD, no H1.

channj 03-10-2011 10:24 AM

I got a home loan last year through SunTrust on EAD without any issues. You would need to provide more documentation such as I-140 approval, I-1488 receipt copies. :)

vrbest 03-10-2011 11:31 AM

Chase, Union Savings bank, Wells Fargo & Citi. I think if the sales person(agent) talking to us is well informed about our status they will work with the underwriters to get the loan approved- since it helps on their commissions as well.

Quote:

Originally Posted by gc_check (Post 2415454)
vrbest, Who is your lender. Can you name the bank you worked with. It might help the some in this group. I have done a Mortgage and 2 re-fi in the past with no issues, but last time, I had issues with Bank of America, Wells Fargo and one other bank (don't remember name). The reason was being on AOS/EAD, They were fine with H1b, but did not understand what EAD / AOS is. It all depends on the underwriter and if he is not knowledgeable on the Visa issues, then you are done. You can't ask for an alternate underwriter. I was able to secure through a credit union though.


eb3_2004 03-11-2011 11:07 AM

Hi Channj,
I am facing issues with re-financing with EAD thru Suntrust...Is there a way I can quote u to make the underwriter understand my EAD status....

mviral 04-03-2015 01:43 PM

Wells Fargo is being irreasonable
 
I am in process of securing loan for a new house. Wells Fargo is going nuts on my immigration status which is EAD. They are about to deny my loan based on that. I have this EAD Based on my I-485 filing since 2007 and they are not at all understanding that. the irony is that my current house mortgage is also through them which I bought it 11 years back when I was on H1 and I don't get it, why now.....Any inputs how to address this or anyone having issues with Wells Fargo?

bpratap 04-03-2015 04:01 PM

I-140
 
Tell them u ve ur I-140 approved n waiting for ur GC card
i485 is not a status. I -140 is the actual GC approval.

Give them a copy of I -140 approval letter

Amman 04-03-2015 08:47 PM

Yes this is a know issue and I had same problem with not only WF but all major lenders. They don't have the word "EAD" in their script, meaning they have no idea what EAD means and try to explaining them won't help. You better off finding a local lenders who honor the EAD.


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