FHA LOAN

[MaxxDy 3]

Hello everybody. I need some exact and definite answer here from people who have sure answer and knowledge only and please do not answer or comment here if your not exactly sure what the answer is. I am a filipino and now a US Citizen and filed for K1 fiancee visa to my filipino beneficiary and still currently working in HongKong. Were on the stage of waiting for NOA2. My question is I am going to buy a house here in America and I have some little savings to afford for a 3.5% downpayment of the house value that I am planning to buy through the FHA loan requirements. Now some people I read on other group says that later on when my fiancee is here and we got married and does the adjustment status after our marriage they said we will be denied because for that reason that I bought a house under using that FHA LOAN??? Is that true??? They said there is a new law abou adjustment of status for the k1 fiancee visa and I have attached here the screenshot photo please read. I just dont understand because I will be a first time home owner buyer thats why I am wanting to avail that FHA LOAN because it will only required 3.5% downpayment and I have a descent job that I can afford the monthly payment of the house and other utilities bills because my income is above 125% poverty guidelines. Please let me know who ever have exact and sure answer.  Thank you

[Crazy Cat 41,976]

According to this list, an FHA loan would not be considered under the public charge rule:

 

https://www.uscis.gov/news/public-charge-fact-sheet

 

Edited December 18, 2020 by Lucky Cat

[designguy 1,179]

If your savings are just enough for a 3.5% make sure you have a solid understanding of what all of your closing costs are going to be as they are generally 2-5% of your loan. (Just bought a house myself)

[MaxxDy 3]

2 hours ago, Lucky Cat said:

According to this list, an FHA loan would not be considered under the public charge rule:

 

https://www.uscis.gov/news/public-charge-fact-sheet

 

This is a third party website. I guess this is not reliable right? They said it should be only directly from the USCIS website. So i guess your answer is not solid.

[MaxxDy 3]

26 minutes ago, designguy said:

If your savings are just enough for a 3.5% make sure you have a solid understanding of what all of your closing costs are going to be as they are generally 2-5% of your loan. (Just bought a house myself)

Your funny because you did not read my post clearly and your answer and comment here is way to far. But anyway thank you. 

[designguy 1,179]

58 minutes ago, Harlene L said:

Your funny because you did not read my post clearly and your answer and comment here is way to far. But anyway thank you. 

I did read your post I was just giving you some advice as I myself just went through the process myself. Good luck 

[Crazy Cat 41,976]

1 hour ago, Harlene L said:

This is a third party website. I guess this is not reliable right? They said it should be only directly from the USCIS website. So i guess your answer is not solid.

Look at the URL.  That is directly from USCIS!!!!!

[payxibka 10,045]

1 hour ago, Harlene L said:

This is a third party website. I guess this is not reliable right? They said it should be only directly from the USCIS website. So i guess your answer is not solid.

Only if the USCIS is considered a third party site for USCIS information. 

[MaxxDy 3]

1 hour ago, Lucky Cat said:

Look at the URL.  That is directly from USCIS!!!!!

Sorry it was my mistake i was using android when we view this earlier and we did not notice immediately when we view that it was directly from USCIS so sorry

[NancyNguyen 1,657]

4 hours ago, Harlene L said:

Your funny because you did not read my post clearly and your answer and comment here is way to far. But anyway thank you. 

You don’t have to be mean.

[dbLA 15]

Just another idea, Instead of a FHA loan have you looked at a 5% conventional? you will still have a monthly PMI payment but the interest rate will be lower. 

[Greenbaum 12,259]

The OP has her answer thanks to @Lucky Cat. No need to worry @Harlene L you be ok with AOS. Please understand we are here to help. 

 

@Harlene L We need a little housekeeping on your end. Many of our answers are predicated on the information you supply in your profile. When we look at the left column and can't determine your timeline OR your Embassy it's hard for us to give you a factual answer. Our answers will sometimes be tailored to a specific Embassy hence the reason for you to complete your profile. If you look at the profile of others here, they have a flag for their country, so it makes it easy for us to reply as we can quickly determine their Embassy. The country that should be used is the country where the interview will take place.
 
So, if you could help yourself out and complete your profile that sure would help us out when we want to reply to your question with factual information.

 
Timeline: https://drive.google.com/file/d/1RTx4pIFfcIXyW15L-nyLuBGzwqYRx5lI/view?usp=sharing

Country and Visa Type: https://drive.google.com/file/d/1RyJiLo_7WTmqvkzXXqLuOlVHm9oyhAES/view?usp=sharing

 
Once you finish that then return and you will see a flag in your profile. Select it and see what wonderful information will open up for you.
 
Thanks 

[JeanneAdil 6,539]

FHA loan comes thru a bank or lending institution/  it is not a government benefit as you get no part of it paid by federal government . You actually pay dearly for this type of loan  as an addition mortgage insurance premium is added to the payment to insure the lender is paid in full if the homeowner defaults on the loan.   However it is a good start for first time homeowner's as per the following and there is nothing (immigration wise) to stop you.  Immigration does not look at a person's credit score and who they  have financing with.   They are only concerned if you get a federal benefit as outlined by Lucky Cat and FHA is not one /  Habitat (for humanity) is the program in many states that helps with the actual payment for the low income families to help with monthly payment.  but that is not funded by the federal government either so it is not part of the public charge rule as it is a part of the Christian charities group

 

 

FHA loans come with many benefits, including easy credit requirements, small down payments, and flexibility in the type of property you can buy. They can be a good option for first-time homebuyers and consumers with credit and cash-flow issues.

 

A Federal Housing Administration (FHA) loan is a mortgage that is insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.Oct 26, 2020

 

 

 

[Cyberfx1024 7,980]

1 minute ago, JeanneAdil said:

FHA loan comes thru a bank or lending institution/  it is not a government benefit as you get no part of it paid by federal government . You actually pay dearly for this type of loan  as an addition mortgage insurance premium is added to the payment to insure the lender is paid in full if the homeowner defaults on the loan.   However it is a good start for first time homeowner's as per the following and there is nothing (immigration wise) to stop you.  Immigration does not look at a person's credit score and who they  have financing with.   They are only concerned if you get a federal benefit as outlined by Lucky Cat and FHA is not one /  Habitat (for humanity) is the program in many states that helps with the actual payment for the low income families to help with monthly payment.  but that is not funded by the federal government either so it is not part of the public charge rule as it is a part of the Christian charities group

 

 

FHA loans come with many benefits, including easy credit requirements, small down payments, and flexibility in the type of property you can buy. They can be a good option for first-time homebuyers and consumers with credit and cash-flow issues.

 

A Federal Housing Administration (FHA) loan is a mortgage that is insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.Oct 26, 2020

All of this is true for a VA loan as well except for the down payment. 

[JeanneAdil 6,539]

Just now, Cyberfx1024 said:

All of this is true for a VA loan as well except for the down payment. 

and HUD but she didn't ask about them

 

We started out after college with FHA loan but now lucky to have built the equity up in every house since then to be able to put a healthy down payment 

 

i think new homeowner's get a "new home" shock when they have to but curtains,  curtain rods,  lawn care equiptment and appliances 

 

so OP  buy it

enjoy it 

and get ready to itemize tax returns as the interest is tax deductable