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H1-B visa status & Purchasing of home in the USA

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  • H1-B visa status & Purchasing of home in the USA

    Hi,

    I am H1-B visa holder and here in the USA for about 4 year. My company (Keane, Inc.) is in the process of applying for my Green Card and my labor will be filed in a month or so.

    Now, I am planning to purchase a home by getting mortgage. I have the below question in this regard:

    Would there be any issue if I go for stamping again in Chennai, India, as I own home in the US?

    Any help on this is highly appreciated...

    Thanks
    Subra

  • #2
    no, there's no issue in purchasing a home in the US. But if your H1b does not get stamped for any reason, you cannot return back to the US and you will lose all the money you invested in the house including down payment. Its a safer option to wait until you get your green card. In the meantime, you can consider buying a house in Chennai where real estate prices are doubling.

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    • #3
      There should be no issue because the H-1B category does not encompass any dual intent issue.

      Owning a home in the US and/or pursuing a green card is not harmful to any H-1B process. You could even claim to want to stay in the US permanently and that should not be an issue for an H-1B visa.

      Regards,

      Andrew M. Wilson

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      • #4
        Thanks

        Thank you very much for both of your help!!!

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        • #5
          well I disagree with Andrew slightly. H1b visas are issues only when u show the intent to return back to your home country. If you show that you want to stay and you've brought a house here, there is a greater chance of rejection during the H1b stamping. That rule applied to all non immigrant visas.

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          • #6
            LeifBlo****, You are wrong. H-1B is a dual intent visa (along with L-1) among other non immigrant visas. So you can say you want to get GC. Otherwise, they would not have Employment based Green Card at all.

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            • #7
              buying a house

              we are in the process of buying the house. the bank already approved us with no down at all. they know that we are on an h1b status but were still waiting for the closing. my question is, our visa will be expired end year next year but we are eligible for a 3-year extension and the employer already sponsored us for a greencard via perm, our labor is approved, were going to submit the i-140 soon.

              do you think that the expiration of the visa will hinder our closing?

              Comment


              • #8
                Originally posted by subra
                Hi,

                I am H1-B visa holder and here in the USA for about 4 year. My company (Keane, Inc.) is in the process of applying for my Green Card and my labor will be filed in a month or so.

                Now, I am planning to purchase a home by getting mortgage. I have the below question in this regard:

                Would there be any issue if I go for stamping again in Chennai, India, as I own home in the US?

                Any help on this is highly appreciated...

                Thanks
                Subra
                better to purchase home after stamping your H1B or getting GC otherwise you are in trouble.

                Comment


                • #9
                  Originally posted by crisb
                  we are in the process of buying the house. the bank already approved us with no down at all. they know that we are on an h1b status but were still waiting for the closing. my question is, our visa will be expired end year next year but we are eligible for a 3-year extension and the employer already sponsored us for a greencard via perm, our labor is approved, were going to submit the i-140 soon.

                  do you think that the expiration of the visa will hinder our closing?

                  it does not, my friend recently bought house on L1 Visa, Approval/Closing everything is done and they are living happily in the new house ...by the way their visas are supposed to expire next year ..which they should be able to extend with legitimate documents..

                  Comment


                  • #10
                    Originally posted by crisb
                    do you think that the expiration of the visa will hinder our closing?
                    No. The banks will charge the PMI which protects them anyway. Actually, I think it is illegal to discriminate based on legal visa status from buying/renting property. Due to the mortgage market, some lenders have tightened their loan approval criteria. If loan is approved, you will be fine. Closing is just a formality with may be around 1000 signatures to be signed.

                    I am not a lawyer and you need to consult with one to validate any info posted on the forum and discuss your case specifics. H1b Question? Read the FAQ first.

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