Hi there,

I have someone in escrow and we are close to loan docs. It's a FHA and apparently the buyer has not been in the US too long however, he is working for a major company with a good salary. They are requesting his proof of citizenship. I am being told that he does not have a greencard but has a work visa. Does anyone know if the loan is in danger? I'm crossing my fingers.

Must be a US Citizen for FHA to insure the loan.

Buyer will have to use Conforming. (Fannie Freddy)

Must be a legal resident or citizen to obtain an FHA loan. Work visas or work permits with TIN numbers will not cut it.

This is correct. The borrower must simply have legal authorization to work and reside within the country. Even if the employment authorization document will expire within a year of the loan closing FHA allows underwriters to assume the authorization will be renewed so long as their is a history of renewal. If not the underwriter must determine the likelihood of renewal based on information from the issuer.