Can You Get a Mortgage in Florida With a Work Visa?

Yes. But the rules changed in 2025, and there are things you need to know before you apply.

If you have a work visa in the United States — H-1B, L-1, E-2, TN, or any other — and you’re thinking about buying a home in Florida, you’ve probably already been told: “You can’t buy until you get your green card.”

That’s false. People with work visas can buy property and obtain mortgages in the United States. That hasn’t changed. What has changed recently are the financing options available, and that change directly affects how much you need for a down payment and what type of loan you can get.

What changed in 2025

Until May 2025, the most accessible option for buyers with work visas was the FHA loan: 3.5% down, credit scores as low as 580, flexible requirements. It was the same program used by thousands of first-time buyers who are citizens and permanent residents.

That door has closed. The Department of Housing and Urban Development (HUD) issued a directive eliminating FHA eligibility for non-permanent residents. If you have a work visa but no green card, FHA loans are no longer an option.

This doesn’t mean you can’t buy. It means the path has changed and you need to know the options that are still available.

The paths that remain open

In 2026, there are two main routes to getting a mortgage with a work visa in Florida.

The first and most common is the conventional loan. Fannie Mae and Freddie Mac — the two entities that back most mortgages in the United States — do allow loans to non-permanent residents with work visas. The requirements are clear: credit score of 620 or higher, down payment starting at 5% (though many lenders prefer to see 10%-20% for visa holders), two years of U.S. employment history, and valid immigration documentation.

The second option is portfolio or non-QM loans. These are loans that banks keep on their own books instead of selling to Fannie Mae or Freddie Mac. The terms are more flexible in some ways (for example, they may accept international credit history if you don’t have enough U.S. history), but they generally require a larger down payment (15%-25%) and higher interest rates.

What lenders want to see

The documentation you need to prepare is more extensive than what a citizen would need, but it’s not impossible. Lenders typically ask for:

Your I-797 (Notice of Approval) for your current H-1B visa, with at least 12 months of validity remaining at the time of application. If your visa expires in less than a year, it’s best to file the extension first and then apply for the mortgage.

Your passport with the visa stamp and your I-94 (arrival record).

An employment verification letter from your HR department confirming your position, salary, start date, and that your employment is expected to continue. Some lenders ask for the letter to state that employment is “ongoing” or projected for at least three years.

Two years of W-2s and tax returns (Form 1040). If you’ve been in the country less than two years, some lenders accept a combination of employment history here and in your home country, but not all.

Three months of recent pay stubs.

Bank statements showing where the funds for the down payment and closing costs are coming from.

If you have an approved I-140 (the step before the green card), have it ready. For lenders, it’s a strong signal that you intend to stay in the country long-term, and it can facilitate the approval.

The credit question

If you’ve been in the United States for a short time, you may not have enough credit history to generate a strong score. This is one of the most common obstacles for professionals on work visas.

For a conventional loan, you need a minimum of 620. To get the best rates, you’ll want to be above 700. Getting there from scratch takes 12 to 18 months with the right steps.

The first step is opening a secured credit card as soon as possible after arriving. Use it for small purchases and pay it in full every month. In 6 months you’ll have an initial score. In 12-18 months, if you’re consistent, you can be in the 700s.

Some lenders specializing in international workers accept credit history from your home country as a supplement. It’s not standard, but it exists as an option if your U.S. history is short.

The question nobody asks: what happens if I lose my visa?

This is the real concern that many visa-holding professionals have but few dare to ask: if I buy a house and then my visa isn’t renewed or I lose my job, what happens to the mortgage?

The direct answer: your mortgage obligation doesn’t change based on your immigration status. If you stop paying, the bank can foreclose just as it would with any other borrower. The property is legally yours, but so is the debt.

However, there are options if you find yourself in that situation. You can rent the property and use the rental income to cover the mortgage while you sort out your situation. You can sell the property (as a non-resident, FIRPTA applies: the buyer withholds 15% of the sale price for the IRS). Or you can continue paying the mortgage from outside the country if you have the funds.

The important thing is to plan for this scenario before buying, not after. A good advisor helps you evaluate whether your immigration situation has enough stability to take on a 30-year mortgage, or whether it makes sense to wait until your green card is further along.

How much down payment you really need

With FHA off the table, the theoretical minimum down payment for a conventional loan is 5%. But in practice, most lenders require 10% to 20% from buyers with work visas. It’s not a written rule — it’s a lender “overlay,” an additional internal policy they apply to mitigate the perceived risk of lending to someone whose residency permit has an expiration date.

For a $400,000 home, that means $40,000 to $80,000 in down payment, plus $12,000-$16,000 in closing costs. These are significant numbers, but for many professionals in tech, healthcare, or finance — the industries that most commonly use H-1B visas in Florida — they’re reachable with planning.

If you can only put down 5%, you need to find a lender who accepts that minimum for visa holders. They exist, but they’re not the majority. Your agent or mortgage broker can help you find them.

Timing matters

If you’re considering buying with a work visa, there’s an optimal window: when you’ve had at least 2 years of U.S. employment history, your credit is above 680, your visa has more than 12 months of validity, and you have the down payment plus a reserve of at least 3-6 months of payments.

Buying before having all of that isn’t impossible, but it complicates the process and will likely get you worse terms. Each of those factors is within your control — and the sooner you start working on them, the sooner you reach that window.

How to know if you’re ready

If you have a work visa and want to know whether your particular situation allows you to buy in South Florida — how much you’d qualify for, what type of loan you can get, how much you’d need for the down payment, and what your real monthly payment would be — you can find out at no cost and without anyone pulling your credit.

It’s just a conversation where someone reviews your complete picture (income, credit, savings, immigration status) and gives you a clear answer: you’re ready, you need these steps, or it makes sense to wait until a certain point.

It just changes which door to open.

High Living Miami is a real estate advisory firm in South Florida specializing in exclusive buyer representation. To learn more about how the process works, visit highlivingmiami.com.

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