can i purchase real estate with an employment authorization card?

Question

if one holds an employment authorization card in place of a visa or green card do they hold the same rights to be permanently in the US can they purchase real estate

Answer 1

Sure you can, if you're paying CASH.
Otherwise you need a green card or a SS# to apply for a mortgage.
Only if you live in another country, and have housing, employment and credit info THERE can you buy property in the US without those documents. It would be considered a second home.

Answer 2

I am going to have to agree and say this is not generally a good plan. However, it is not ALWAYS a totally bad situation. If you find the right bargain and that is the only way that you can finance it, you may want to take that leap. I have seen it done successfully on property ladder. People often finance the rehab with credit cards. If you could get a 0% rate for 12 months (not uncommon) it would be even better. You have to be prepared for the failure though. What are the options if the property doesn't sell? I would go no higher than 50% loan to value for sure. That way if you have to refi or dump the property you can. Again, this is a very risky scheme. Not sure I would recommend it for a first time flipper. Don't forget that you will have additional expenses once you get the house. It is going to need some work.

Answer 3

If you are holding an employment authorization card, you will be still be holding a visa. I don't think it's possible for foreign nationals to reside in US without any valid visa, either immigrant or non-immigrant. For example, a student on F1 visa continues to stay on the same visa even though they obtain an employment authorization card. So assuming same is the case with you, I think some lenders have some limitations regarding offering loans for people who don't have permanent resident status in US. And since employment authorization card is valid only for limited time (about an year), I would imagine your options for mortgage loans are limited. But if you have enough money to buy real estate, there should be no stopping.

Answer 4

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Answer 5

i do not believe that you can do that. i work at a mortgage company and the first thing we ask for is a drivers license or social security card. we also accept visa's. i have never heard of accepting an employment authorization card. i doubt you would be able to since you are not a permanent resident alien, therefore you would not hold the same rights as one.

Answer 6

I think so let me check on that.....http://www.dre.ca.gov/proof.htm I dont know were you are from but that is the State of Ca. And New Jersey http://www.state.nj.us/dobi/recproof.htm. I hope this helped you out.

Answer 7

Im pretty sure you can buy property with a tax ID number, im not sure if that is the same thing.

Answer 8

when i sell property i prefer cash.

Answer 9

yes you can go for it

Answer 10

Yes, you can.