12 Questions to Ask Your Lender If You're on a Visa (2026)

Quick answer (updated October 2026): The most important questions to ask a mortgage lender on a visa are whether they add overlays beyond Fannie Mae and Freddie Mac rules, such as minimum visa validity, larger down payments or extra reserves, and whether they understand that FHA is no longer open to non-permanent residents. Their answers tell you if they work with visa holders regularly.

A loan officer at a big bank tells your friend on an L-1 that he needs 30% down "because of the visa." Another lender tells a coworker on an H-1B that she can do 5% down. Same agency rules, wildly different answers. The difference is almost always lender overlays, and you can uncover them in a 15-minute call if you know what to ask.

Below are 12 questions, why each matters, and the red flags that mean you should keep shopping.

Why visa holders need a different set of questions

Fannie Mae's Selling Guide B2-2-02 says non-permanent residents are eligible "under the same terms that are available to U.S. citizens." It has no approved visa list and no minimum remaining validity. Freddie Mac's guide takes the same approach. Everything else is a lender's choice. We explain this in Fannie Mae has no approved visa list.

So the goal of these questions isn't to test whether a lender is "allowed" to lend to you. It's to find out how many extra rules they've layered on top.

Questions to ask a mortgage lender about overlays

1. "Do you add any overlays for non-permanent residents beyond Fannie Mae and Freddie Mac guidelines?"

This is the master question. A lender who works with visa holders will answer specifically. Read more on lender overlays for visa holders.

2. "Do you require a minimum amount of time left on my visa or I-797?"

Fannie Mae doesn't. Some lenders do. If your I-797 expires in eight months and an extension is likely, this answer decides whether that lender is a fit.

3. "Will you accept an expired visa stamp with a valid I-797 and I-94?"

The stamp is a travel document. A lender that insists on an unexpired stamp may force an India trip you don't need.

4. "What's the minimum down payment for my status, and why?"

Conventional loans don't require a bigger down payment because you're on a visa. If a lender asks for 20% or 30% only because of your status, that's an overlay. See lender asking for 30% down on an H-1B.

H1B mortgage lender questions about loan programs

5. "Can I use an FHA loan?"

The right answer for H-1B, L-1, O-1, TN, OPT and EAD-only borrowers is no. HUD Mortgagee Letter 2025-09 removed non-permanent resident eligibility for FHA case numbers on or after May 25, 2025, and HUD reaffirmed it on October 9, 2026. Green card holders remain eligible. A lender who offers FHA to an H-1B holder in 2026 either doesn't know the rule or isn't paying attention. Our guide to FHA alternatives for visa holders covers what to use instead.

6. "Do visa holders get different pricing?"

Ask directly. Agency pricing is driven by credit, loan-to-value and loan features, and Fannie Mae's eligibility terms are the same for non-permanent residents. We dig into this in do visa holders pay higher mortgage rates.

7. "How many months of reserves do you require for me, and do Indian assets count?"

Some lenders add reserve overlays for visa holders. Also ask how they treat money in India. Under Fannie Mae B3-4.2-05, foreign assets used for closing must be converted to US dollars and held in a US or state-regulated institution before closing.

Talk to a loan officer who's seen this before: Tired of asking these questions one lender at a time? Book a free 15-minute call and we'll run them across our 150+ wholesale lenders and show you who has overlays and who doesn't.

Visa holder lender overlay questions about timing and status

8. "What happens if my H-1B extension or EAD renewal is pending at closing?"

You want a lender with a clear written policy, not a shrug. This matters more in 2026: automatic EAD extensions ended for renewals filed on or after October 30, 2025, finalized effective October 14, 2026, so a pending EAD renewal can mean a gap in work authorization.

9. "If I change jobs or my status changes before closing, what do you need?"

H-1B portability lets you start with a new employer once the new petition is filed, but your loan file still needs updated income and employment verification. A good lender explains the re-verification steps upfront. For immigration questions, talk to your immigration attorney.

10. "How long is your rate lock, what does an extension cost, and is there a float-down?"

New construction, cap-gap timing and stamping trips can all push closings. Know the lock terms before you need them.

Choose a mortgage broker or bank: questions about the lender itself

11. "Do you underwrite with DU, and which credit score model will you use?"

Fannie Mae's DU no longer requires a minimum credit score for casefiles on or after November 16, 2025, but many lenders keep a 620 overlay. Since September 9, 2026, lenders can also choose Classic FICO or VantageScore 4.0, which can matter for a thin file.

12. "Are you a retail lender or a broker, and how many lenders can you shop?"

A retail lender offers its own products and overlays. A broker can compare many. That's the difference between "we can't do it" and "this lender can."

Quick-reference: good answers vs. red flags

Question	Good answer	Red flag
Overlays for visa holders?	Lists specific overlays, or none	"We have special visa rules," no details
Minimum visa validity?	"Not required" or a clear policy	"At least 3 years left," presented as a federal rule
Expired stamp OK?	"Valid I-797 and I-94 are fine"	"You need a new stamp"
Down payment?	Based on credit, property, loan size	"Visa holders need 20 to 30%" as an agency rule
FHA?	"Not for your status since 2025; here are alternatives"	"Sure, FHA works on an H-1B"
Pricing?	Explains pricing factors	Vague "visa premium"
Reserves and foreign assets?	Cites the US-account requirement and a timeline	"We don't count Indian money" with no explanation
Pending extension or EAD?	Written policy, specific documents	"We'll figure it out later"
Job change?	Clear re-verification steps	No mention of re-verification
Rate lock?	Lock length, extension cost and float-down terms	Pressure to lock immediately with no terms
DU and score model?	Specific answer	"Doesn't matter"
Retail or broker?	Clear answer and number of lenders	Evasive

How to use this list

Don't run all 12 questions as an interrogation. Ask questions 1, 4, 5 and 12 first; the answers sort lenders quickly. Then get a Loan Estimate from your top two or three and compare them within a two-week window, since mortgage inquiries in a short window are typically scored as one.

Say Arjun, an H-1B data scientist in Charlotte with 10% down, calls three lenders (an illustration). One wants 25% down, one wants two years left on his I-797, one follows agency guidelines. The agency rules didn't change between calls. The overlays did.

What the rules actually say

• Fannie Mae Selling Guide B2-2-02 (07/28/2015): non-permanent residents are eligible "under the same terms that are available to U.S. citizens"; the lender determines documentation; no visa list or minimum remaining validity. Freddie Mac's guide takes the same approach.

• HUD Mortgagee Letter 2025-09 (March 26, 2025): non-permanent residents ineligible for FHA for case numbers on or after May 25, 2025; reaffirmed by HUD on Oct 9, 2026. Green card holders remain eligible.

• Fannie Mae B3-4.2-05: foreign assets must be exchanged into US dollars and held in a US or state-regulated institution before closing.

• Fannie Mae B3-5.1-01 / SEL-2025-09: no minimum credit score for DU casefiles on or after Nov 16, 2025; lender overlays may still apply.

Frequently Asked Questions

Q: What should I ask a mortgage lender if I'm on an H-1B?
A: Start with whether they add overlays beyond Fannie Mae and Freddie Mac rules, then ask about minimum visa validity, down payment for your status, reserves, and how they handle pending extensions. Also confirm they know FHA is not available to H-1B holders as of 2025.

Q: Is it a red flag if a lender says I need 20% down because of my visa?
A: It's a sign of an overlay, not an agency rule. Fannie Mae makes non-permanent residents eligible on the same terms as citizens. That lender may still be fine for other reasons, but you should compare with lenders that don't impose a visa-based down payment requirement.

Q: Can a lender legally require more time left on my visa?
A: Lenders can set their own overlays, including remaining-validity requirements, as long as they apply them consistently and lawfully. What they shouldn't do is present it as a Fannie Mae or federal rule. Fannie Mae's guide has no minimum remaining validity.

Q: Should I use a broker or a bank if I'm on a visa?
A: Either can work. A bank offers its own products and overlays, so if it says no, that's one lender's answer. A broker can compare many lenders' overlays at once, which tends to help visa holders whose files trip one lender's rules but not another's.

Q: How many lenders should I get quotes from?
A: Two to three Loan Estimates for the same loan is a practical target. Compare them within about two weeks so credit inquiries are typically scored as one. A broker can often compare more lenders on a single credit pull.

Get a side-by-side lender overlay comparison

Tell us your visa or green card status, I-797 or card expiration, down payment and target price. We'll run these 12 questions for you across our 150+ wholesale lenders and send back a side-by-side lender overlay comparison showing who has visa rules that affect you and who doesn't. We work with visa holders every week and are licensed nationwide. Book a free 15-minute call at /contact, start your application at /apply, or call 713-366-4668.

Masala Loans is a brand of Matador Lending, LLC (NMLS #2072896). Written by Apurva Sanghavi, President, NMLS #227127. Equal Housing Opportunity. This article is general education, not tax, legal or immigration advice — consult a qualified CPA, attorney or immigration lawyer for your situation. Program availability, rates and terms vary by lender and borrower and are subject to change; not a commitment to lend.