FHA Non-Perm Resident Aliens

Hey guys, if you or somebody you know is a non permanent resident alien looking for FHA financing, listen up. So you might have heard from my previous videos, the FHA is rolling out a new rule on May 25 that after that date, non permanent resident aliens cannot get FHA financing. This is for people that have a deployment authorization document or EAD card or certain types of visas. So we have other game plans in store and other financing options outside of that. So it's not like a non permanent resident and they can never get financing. It just limits their options. FHA is a little more lenient on the credit score and the down payment, so it can be helpful. But if you really unpack this. This is the the public service announcement I wanted to give. If you really unpack what that really means, May 25, look at the calendar. That's on a Sunday. The last typical business day is the 23rd on that Friday. And it doesn't mean just get your offer accepted and you're good. What it really means is you have to get your offer accepted, sign the contract, sign the lender's disclosures, and then the lender has to order the FHA case number from the fha. And that last piece usually takes a day or so. So once you unpack that, you really want to give yourself some wiggle room here because there's a drop dead date there. So I would advise people to be under contract by the TW of May to give yourself a little breathing room. So I would certainly say this is the last weekend to go find a house to get under contract comfortably. If you're a non permanent resident alien, just like always, the doors will be open. We'll be here helping people get under contract. So reach out if we can help. And even if you don't make the deadline, there's still options for you.