H1B Mortgages in the U.S.

Updated on June 9, 2024

At a Glance

  • H1B visa holders can buy homes in the U.S.
  • While there is no specific “H1B visa mortgage,” FHA loans and traditional mortgages from big banks are viable options.
  • Credit Unions and banks associated with the employer are generally a great options for low rates with high loan amount.
  • Down payments can be challenging, but personal loans for mortgage down payments are available.

Are you an H1B visa holder in the U.S. who’s tired of throwing away money on rent every month? Do you want to own your own home? If you answered yes to both of those questions, then you’ve come to the right place.

Read on to learn everything you need to know about getting an H1B mortgage and buying a home in the U.S.!

Can H1B Visa Holders Buy Homes in the U.S.?

In a word: Yes. Even if you are a temporary worker in the US, you can buy a home.

Purchasing property in the United States while on a nonimmigrant visa, be it a TN Visa (under USMCA), L1 Visa, F1 (student), H1B (temporary worker), or another category, is indeed feasible. Nonimmigrant visa holders and foreign nationals face no legal prohibitions on owning property in the U.S. Nonetheless, non-U.S. citizens may encounter more complex procedures due to several factors:

  • Mortgage Accessibility: It might be more difficult for non-U.S. citizens to secure a mortgage. Lenders could demand higher down payments, impose elevated interest rates, or ask for more comprehensive documentation. Certain financial institutions might even exclude non-U.S. citizens from borrowing.
  • Tax Consequences: Different taxation regulations apply to non-U.S. citizens when they buy, hold, or sell property in the U.S. Professional tax advice is crucial to fully understand the tax liabilities that apply to your situation.
  • Compliance with Laws: Purchasing U.S. property requires adherence to a range of legalities at the local, state, and federal levels. Collaborating with real estate agents, lawyers, or specialists conversant with the laws applicable to the property’s locale is often necessary.
  • Impact on Immigration Status: Property ownership in the U.S. does not afford any particular advantages regarding immigration status or visa alterations. It’s important to maintain lawful nonimmigrant status while being a property owner in the U.S.

For those on a nonimmigrant visa contemplating the purchase of a house in the U.S., it is advisable to seek guidance from experienced professionals such as real estate agents, mortgage brokers, tax consultants, and legal advisors. Their expertise will be invaluable in navigating the purchase process and ensuring compliance with all pertinent regulations.

Is There Such a Thing as an “H1B Visa Mortgage”?

As of this writing, there is no mortgage option specifically for H1B visa holders. That said, there are several viable mortgage options for foreign workers in the U.S. on an H1B visa.

FHA Loans for H1B Visa Holders

FHA loans are loans backed by the Federal Housing Administration. In order to get an FHA loan, you must be eligible to work in the US. Aside from your work visa, the FHA also requires an Employment Authorization Document (EAD) if you apply for a loan.

FHA loans tend to be more affordable upfront because the down payment is only 3.8%, but there is a credit score requirement of 580 to get that rate. And, as discussed above, many visa holders do not have credit scores in the U.S.

Still, if you can get an FHA loan, it’s a great option for financing your home.

Traditional Mortgages from Big Banks

H1B visa holders may also qualify for home loans with big banks, like Wells Fargo, but there’s a catch.

Many big banks offer loans that visa holders qualify for, but upon risk assessment, visa holders will not be approved. The unfortunate truth of the situation is that mortgages are long loans–usually 30-40 years long–and the average H1B visa is valid for 3-6 years. Yes, renewals are possible and mortgages can be paid off early, but big banks are very risk-averse and lending to a person on a visa comes with a considerable amount of risk.

All of that said, both of these options are viable under the right circumstances. And should you find yourself qualified to get a mortgage loan, you’re next questions should be able down payments.

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5 Reasons Why It Makes Sense for an H1B Visa  Holder to Buy a Home

Even if H1B visa holders can buy homes, it’s important to ask if it makes sense for them to buy homes. And honestly, it really comes down to needs. H1B visa holders can buy and own cars in the U.S., but a foreign worker who lives in a city might not need for a car. It all depends.

That said, there are 5 good reasons H1B visa holders should at least seriously consider buying a home in the U.S.

1. Owning is Cheaper than Renting

On average, owning your home, rather than renting it, will save you an average of $300 to $500 a month in most U.S. cities. This won’t be true in all cities, but in the ones where it is true, it’s absolutely worth it to own rather than rent. You could save up to $6000 a year that could be used for more important things, like sending money back home to help family.

2. Mortgage Interest Deductions Can Reduce Taxes Owed

Another reason to consider owning your home rather than renting is the significant tax benefits of owning offers. If you itemize your deductions on your tax return, you can claim the mortgage interest deduction on the first $750K of your mortgage.

3. Mortgage Payments are More Stable than Rent Payments

Living in the U.S. can be very expensive, especially if you’re living in a city, so stability in your monthly housing payments is important for budgeting. And therein lies one of the major issues facing renters: your landlord can raise your rent upon the renewal of your lease. And depending on how much your rent goes up, it can significantly affect your finances. And this can happen every year your renew.

Mortgages, on the other hand, offer a stable, predictable monthly payment schedule for the duration of your loan. When you buy a home, your lender will give you a schedule of every payment you will ever make, and the payments will essentially be identical for the lifetime of the loan.

4. Own Helps Build Equity in a Valuable Asset

When you pay your mortgage, you are building equity in a valuable asset (your house). Over time, as your equity builds, so does your future buying and investing power. So, if you want to buy a nicer home down the line or retire one day, building equity is important. There is also an exemption on capital gains from any appreciation you build in a primary residence. According to IRS rules, if there’s a capital gain on the sale of your home, you may qualify to exclude for up to $250,000 of that game from your income or as much as $500,000 is you are married.

5. Lenders Offer Similar Mortgages for H1B Visa Holders and U.S. Citizens

While it can be more difficult for H1B visa holders to get mortgages in the U.S., it’s certainly possible. H-1B visa holders can apply for all types of mortgages, including FHA loans, conventional mortgages, and jumbo mortgages. Some H1B visa holders might struggle to procure a mortgage due to a lack of credit history, but the struggle is very much worthwhile for the other reasons listed above.

So, yes – H1B visa holders in the U.S. can buy homes there and there are plenty of great and beneficial reasons to buy a home, but what are the financing options?

Down Payments on an H1B Mortgage

Very few people can afford to pay cash for their homes, but when it comes to buying a home, the more money you can put into it up-front, the more benefits you’ll see (like reduced monthly payments and interest rates).

The average down payment is about 20% of the asking price on the home, so, for example, a down payment on a $500,000 home would be approximately $100,000. Now, most H1B visa holders won’t be looking to but a half-million-dollar home, but precedent stands. But it can be difficult for some visa holders to come up with $20,000 or $30,000 for a down payment. So, what can you do?

How to Get a Personal Loan for a Mortgage Down Payment as an H-1B Visa Holder

For H-1B visa holders, the American dream of homeownership might seem daunting, especially when navigating the complexities of mortgage down payments. Personal loans can emerge as a beacon of hope in this journey, providing the necessary funds to bridge the gap towards purchasing a home. Here’s a guide to understanding how to use personal loans effectively for this purpose while on an H-1B visa.

Step 1: Evaluate Your Visa Tenure and Employment Stability

Before considering a personal loan for a down payment, reflect on your H-1B visa’s validity period and your job security. Lenders will be particularly interested in these details as they directly impact your ability to repay the loan. Ensure that your visa will not expire soon, and provide proof of a strong employment history and potential for visa renewal to reassure lenders of your reliability.

Step 2: Creditworthiness is Key

Your credit score is a crucial factor in securing a personal loan with favorable terms. As an H-1B visa holder, you may need to build your credit history in the United States. Consistently paying off credit cards, utility bills, and any existing loans on time can improve your credit score. A solid credit history will make you a more attractive candidate for both personal and mortgage loans.

Step 3: Scout for the Right Lender

Search for lenders accustomed to working with H-1B visa holders. Some lenders may be more flexible and understanding of your situation, potentially offering more competitive rates and terms. Also, explore financial institutions that have experience in dealing with international borrowers and can navigate the intricacies of lending to non-permanent residents.

Step 4: Understand the Terms and Consequences

A personal loan can be unsecured, implying higher interest rates due to the increased risk for the lender. Understand the interest rates, repayment terms, and the impact of these factors on your overall financial commitments. Calculate the total cost over the life of the personal loan, plus the upcoming mortgage, to ensure you are not over-leveraging yourself.

Step 5: Prepare Documentation

When applying for a personal loan, gather all necessary paperwork, which typically includes your H-1B visa, proof of legal residence, employment verification, pay stubs, and a good credit report. Transparency and thoroughness with documentation can streamline the approval process and demonstrate your trustworthiness as a borrower.

Step 6: Factor in the Mortgage Lender’s Perspective

Understand that taking out a personal loan before applying for a mortgage could affect your debt-to-income ratio, a significant factor that mortgage lenders evaluate. Discuss your plans with a potential mortgage lender beforehand. Some mortgage providers might view the personal loan as an additional liability, impacting your mortgage terms or even your approval odds.

Step 7: Plan for Repayment Before You Borrow

Ensure you have a clear repayment strategy for the personal loan that aligns with your income, expenses, and future savings plans. As an H-1B visa holder, you must also account for potential changes in your employment and visa status that could affect your financial stability.

Step 8: Closing the Deal

After securing your personal loan and having the green light from your mortgage lender, you’re set to use those funds for the down payment. Proceed with the home-buying process with caution, ensuring that all other

Best Lenders for Downpayment Loans

Avant (Best for Quick Approval)

Avant Personal Personal Loan

Stilt’s lender ratings reflect the findings and opinions of our editorial staff. Our scoring methodologies consider a wide array of factors and data points for every lender, offering, and financial solution.
Min. credit score


Fixed APR


Variable APR



  • Minimum credit score: 550.
  • Fixed APR: 9.95-35.99%.
  • Loan amounts: $2,000-$35,000.
  • Repayment: 1 to 5 years..


  • Strong credit and income may secure lower rates, but not mandatory.
  • Must possess a bank account in good standing under your name.
  • A valid Social Security number is required.
  • Bankruptcy should not be active.
  • Minimum credit score of 550; using FICO score version 8 and VantageScore version 3.
  • Minimum monthly net income: $1,200 from various sources including employment, alimony, retirement, child support, and Social Security payments.


  • A dedicated mobile app is available for loan management.
  • Offers a diverse selection of repayment terms.
  • Customer service is accessible seven days a week.


  • An origination fee might be applicable.
  • They don’t offer co-signed, joint, or secured loan options.
  • Direct payments to creditors aren’t available for debt consolidation loans.

AmOne (Best of Low Credit Score)

AmOne Personal Loan

Stilt’s lender ratings reflect the findings and opinions of our editorial staff. Our scoring methodologies consider a wide array of factors and data points for every lender, offering, and financial solution.
Min. credit score


Fixed APR


Variable APR



  • Minimum credit score: 600.
  • Fixed APR: 3.99%-35.99%.
  • Loan amounts: $1,000 to $50,000.
  • Repayment: 1 to 7 years.


  • Must be at least 18 years old.
  • Must be a U.S. citizen or permanent resident.
  • While there’s no specific income requirement, a consistent source of income is essential for the applicant.


  • Suitable for individuals with lower credit scores.
  • No cost for the matching service.
  • Attractive loan rates.


  • Acts as an intermediary, not a direct lender.
  • Risk of multiple contacts from prospective lenders.
  • Lack of clarity on lender details.

Upstart (Best for Fair Credit Score)

Upstart Personal Loan

Stilt’s lender ratings reflect the findings and opinions of our editorial staff. Our scoring methodologies consider a wide array of factors and data points for every lender, offering, and financial solution.
Min. credit score


Fixed APR


Variable APR



  • Minimum credit score: None.
  • Fixed APR: 4.60-35.99%.
  • Loan amounts: $1,000-$50,000.
  • Repayment: 3 or 5 years.


  • Hold U.S. citizenship or possess permanent residency.
  • Be a minimum of 18 years old in the majority of states.
  • Provide a valid email address and Social Security number.
  • Be currently employed full-time or starting a full-time job within the next six months.
  • Maintain an active bank account with a recognizable routing number.
  • Not have declared bankruptcy in the past year.
  • Ensure no delinquencies are present on their current credit reports.
  • Record fewer than six hard credit inquiries in the past six months, excluding inquiries for student, auto, or mortgage loans.


  • Welcomes first-time credit users.
  • Provides quick fund disbursement.
  • Allows flexibility in adjusting payment due dates.
  • Offers pre-qualification through a soft credit inquiry.
  • Customer support available seven days a week.


  • Origination fee may apply.
  • Does not offer joint, co-signed, or secured loan options.
  • Lacks a mobile application for loan management.
  • Limited to two loan repayment terms.

OneMain Financial (Best for Good Rates)

OneMain Financial Personal Loan

Stilt’s lender ratings reflect the findings and opinions of our editorial staff. Our scoring methodologies consider a wide array of factors and data points for every lender, offering, and financial solution.
Min. credit score


Fixed APR


Variable APR



  • Minimum credit score: None.
  • Fixed APR: 18.00-35.99%.
  • Loan amounts: $1,500-$20,000.
  • Repayment: 2 to 5 years.


  • Must possess a Social Security number or individual taxpayer identification number.
  • Minimum age: 18 in most states.
  • No set minimum credit score, but some credit history is preferable.
  • No specific minimum income, but must cover personal expenses and the loan’s monthly payment.


  • Flexibility to select and modify your payment date.
  • Offers both joint and secured loan options.
  • Provides quick loan disbursement.
  • Enables direct payments to creditors for debt consolidation.
  • Comes with a seven-day policy for loan cancellation.


  • Interest rates are relatively high compared to competitors.
  • An origination fee is applicable.
  • Doesn’t offer any rate discounts.
  • Offers a restricted range of loan amounts.
  • APR is not displayed during pre-qualification.

SoFi (Best for Good Credit Score)

SoFi Personal Loan

Stilt’s lender ratings reflect the findings and opinions of our editorial staff. Our scoring methodologies consider a wide array of factors and data points for every lender, offering, and financial solution.
Min. credit score


Fixed APR


Variable APR



  • Minimum credit score: 660.
  • Fixed APR: 8.99-29.99%.
  • Loan amounts: $5,000-$100,000.
  • Repayment: 2 to 7 years.


  • Targets borrowers with good to excellent credit; fair credit may qualify.
  • Minimum credit score of 660.
  • At least two years of credit history.
  • Proof of sufficient income sources or employment offer starting in less than 90 days.
  • Must be a U.S. citizen, a permanent resident, or a visa holder (J-1, H-1B, E-2, O-1, or TN).


  • Soft credit check is available for pre-qualification.
  • Offers high loan amounts.
  • 0.25% rate reduction for auto pay.
  • No origination fee.
  • No prepayment penalty.


  • Minimum 660 credit score required.
  • Minimum $5,000 loan amount.

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Final Thoughts

While it might seem daunting to buy a home on an H1B in the U.S., the benefits are real and significant. Moreover, it might seem like an uphill battle to procure a mortgage on your H1B visa, but it is possible, and with companies like Stilt here to help, it’s more possible for you to own a home in the U.S. than ever before.

So, what are you waiting for? Get started today!

Frequently Asked Questions (FAQ)

Can H1B Visa Holders Get Mortgages in the U.S.?

Yes, H1B visa holders can get mortgages in the U.S. Lenders consider H1B visa holders as potential borrowers, but specific requirements must be met.

What Are the Requirements for H1B Visa Holders to Obtain a Mortgage?

Requirements typically include a valid H1B visa, a history of employment in the U.S., a good credit score, a Social Security Number (SSN), proof of income, and sufficient down payment.

Do H1B Visa Holders Need a Long Credit History in the U.S.?

While a long credit history in the U.S. is beneficial, some lenders are willing to consider shorter credit histories along with other factors like employment stability and income.

Can H1B Visa Holders Get Competitive Mortgage Rates?

Yes, H1B visa holders can get competitive mortgage rates, especially if they have a strong financial profile, including a good credit score and stable income.

How Does Employment Status Impact Mortgage Approval for H1B Visa Holders?

Stable employment is crucial for mortgage approval. Lenders typically require proof of current employment and possibly a history of employment in the U.S.

What Types of Mortgages Are Available to H1B Visa Holders?

H1B visa holders can access various mortgage types, including conventional loans, FHA loans (with restrictions), and jumbo loans, depending on their financial situation and lender policies.

Is a Cosigner Required for H1B Visa Holders to Get a Mortgage?

A cosigner is not always required, but having a cosigner with a strong credit history can improve the chances of approval and possibly secure better loan terms.

How Much Down Payment Is Needed for H1B Visa Holders?

The down payment requirement varies by lender and the type of loan. It can range from 3% to 20% or more of the home’s purchase price.

Can H1B Visa Holders Refinance Their Mortgage?

Yes, H1B visa holders can refinance their mortgage. The process and requirements are similar to those for U.S. citizens, focusing on credit score, income, employment, and home equity.

What Should H1B Visa Holders Consider Before Applying for a Mortgage?

H1B visa holders should consider their visa duration, job stability, credit score, down payment size, potential property appreciation, and overall financial readiness for homeownership.

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