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Should banks be allowed to lend conventional mortgages to people on H1B?
Posted on 7/20/26 at 11:08 am
Posted on 7/20/26 at 11:08 am
Trump ended the abuse of government-backed loans going to the invaders, which is crazy that it was even a thing, but banks can still provide conventional loans. Should this be allowed?
They are only supposed to be here for a maximum of six years, but allowing them to get mortgages puts the banks at risk. Since banks are FDIC-insured, that also puts depositors at risk for any money that is not insured if the bank's exposure to H1B mortgages were to cause it to fail.
Many cases of H-1Bs and/or people here for college taking out loans they don't intend to repay. Including houses, cars, credit cards, etc.
I think we should stop all foreigners from purchasing any RE in the USA, but at the very least I think a bank should have to disclose to its depositors their exposure to mortgages involving foreigners and especially those only here for a max of 6 years on H1Bs.
They are only supposed to be here for a maximum of six years, but allowing them to get mortgages puts the banks at risk. Since banks are FDIC-insured, that also puts depositors at risk for any money that is not insured if the bank's exposure to H1B mortgages were to cause it to fail.
Many cases of H-1Bs and/or people here for college taking out loans they don't intend to repay. Including houses, cars, credit cards, etc.
I think we should stop all foreigners from purchasing any RE in the USA, but at the very least I think a bank should have to disclose to its depositors their exposure to mortgages involving foreigners and especially those only here for a max of 6 years on H1Bs.
This post was edited on 7/20/26 at 11:12 am
21
Posted on 7/20/26 at 11:21 am to stout
No.
Let them rent.
Let them rent.
Posted on 7/20/26 at 11:23 am to stout
no. Foreign entities should have no right to own property in the USA.
Posted on 7/20/26 at 11:33 am to stout
quote:
Don't believe everything you see on Twitter.
My initial, gut response is no. But I am ignorant to the issue.
Posted on 7/20/26 at 11:45 am to stout
quote:
Many cases of H-1Bs and/or people here for college taking out loans they don't intend to repay. Including houses, cars, credit cards, etc.
In the crash of 08, everybody was jettisoning H1Bs in Atlanta. There were tons of them trying to sell their Audis and condos within the 30 or so days before they had to leave. You love to see the panic.
Posted on 7/20/26 at 11:59 am to junkyarddawg3
quote:
Don't believe everything you see on Twitter.
My initial, gut response is no. But I am ignorant to the issue.
It's not twitter
It's a verifiable fact they were getting FHA mortgages
It's a verifiable fact they were buying so many houses in DFW that some builders started incorporating prayer rooms in their floor plans
There's an Indian realtor in DFW selling like 2 homes per day and he is kicking back commissions to Indian buyers telling them to waste other realtors time but come to him to write the contracts
An Indian owned bank is building a branch in DFW to lend to Indians.
You can educate yourself or keep your head in the sand and think everything is just hyped social media content
This post was edited on 7/20/26 at 12:57 pm
Posted on 7/20/26 at 12:03 pm to stout
If they have their green cards, I would be OK lending to them otherwise probably no unless they put some major equity into the purchase. No subsidized government programs like FHA should be available them.
Posted on 7/20/26 at 1:14 pm to stout
Sorry, poor communication on my part.
The “Don't believe everything you see on Twitter” part of my post was a misquote. It should not have been in there. It was part of a previous post. My post should have looked like the following:
My initial, gut response is no. But I am ignorant to the issue.
The “Don't believe everything you see on Twitter” part of my post was a misquote. It should not have been in there. It was part of a previous post. My post should have looked like the following:
quote:
Should banks be allowed to lend conventional mortgages to people on H1B?
My initial, gut response is no. But I am ignorant to the issue.
Posted on 7/20/26 at 1:27 pm to stout
They are a private business they can loan money to whomever they wish on the flipping it should be illegal for a non citizen to own property in the US and that goes to the mega rich as well.
Posted on 7/20/26 at 1:29 pm to stout
frick no
Posted on 7/20/26 at 2:03 pm to notsince98
quote:
no. Foreign entities should have no right to own property in the USA.
I would love to see the argument of the person who downvoted this.
Posted on 7/20/26 at 2:08 pm to stout
Propping up the housing market is a governmental sacred cow.
Posted on 7/20/26 at 2:13 pm to stout
quote:
Should banks be allowed to lend conventional mortgages to people on H1B?
Posted on 7/20/26 at 2:21 pm to stout
Agreed, let the companies that hire them back the loans.
Posted on 7/20/26 at 2:21 pm to stout
If anyone should be renting its people on H1B's
Posted on 7/20/26 at 2:25 pm to stout
Only US citizens should be able to buy homes in this country until affordability returns to historical norms.
Posted on 7/20/26 at 2:42 pm to Bard
quote:
I would love to see the argument of the person who downvoted this.
I cant think of a good reason to prevent foreign investment in real property, provided they are good stewards of the land. Its un-American to discriminate against them. Land should go to whomever can develop it to its highest and best purpose.
We should prevent national security issues, of course, so there can be limits on certain locations or purposes.
But a free market is only made stronger by foreign competition. We get more jobs, tax revenue, better use of the land, and we encourage foreign countries to allow property ownership by Americans.
Back in the 80s, Japanese investors were buying property right and left, and most of them made huge improvements to the land. Pebble Beach golf course was just about saved from extinction.
Then we devalued the dollar against the Yen, and those investors lost their shirts.
As for the mortgage question, I dont think foreigners should get any government protection for their loans. But a bank should be free to decide if it wants to assume the risk of loaning to someone who might disappear.
Posted on 7/20/26 at 2:58 pm to stout
quote:
Should banks be allowed to lend conventional mortgages to people on H1B?
Yes, but they should be afraid to.
Posted on 7/20/26 at 3:00 pm to stout
Do the H1B workers contribute to the bank bailouts when they go under?
Posted on 7/20/26 at 3:01 pm to stout
Yes. Lend to folks here legally.
And pre-approval should include checking the buyer's legal status. My sister was selling a house and got a great offer pre-approved by the bank and 2 days before closing the bank denied the loan because the buyer's H1B was expired. The bank didn't check that when they pre-approved the guy? Wasted 2 months of time on the market.
And pre-approval should include checking the buyer's legal status. My sister was selling a house and got a great offer pre-approved by the bank and 2 days before closing the bank denied the loan because the buyer's H1B was expired. The bank didn't check that when they pre-approved the guy? Wasted 2 months of time on the market.
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