Mortgage Industry News
« Return to Mortgage Industry News
DACA "Dreamers" Given FHA Loan Eligibility
Wednesday, January 20, 2021
The Department of Housing and Urban Development (HUD) announced
on Tuesday that it has extended eligibility for FHA mortgages to individuals
who are classified under the Deferred Action for Childhood Arrivals program
(DACA). These individuals are perhaps better known as "Dreamers." DACA status
is granted to undocumented individuals who were brought into the country before
their 16th birthday and were under the age of 31 when the category
was established in June 15, 2012. Residency requirements apply and individuals
must be in school, have completed high school, obtained a GED certificate, or be
honorably discharged from one of the military services. DACA status allows its holders
to work legally in the U.S. and prevents their involuntary removal from the
country for a two-year renewable term.
Read Full Article