The formal process of buying a home as an immigrant isn’t much different from buying a home as a native-born citizen. However, getting a loan can be much more difficult for immigrants. This is a result of structural discrimination against immigrants in the house-buying process. Immigrants’ financial profiles don’t look like a regular homebuyer’s profile and as a result, immigrants are usually marked as more high risk by loan services. Although this does make the process more difficult, it is remedial. The government and specialized financial institutions can help an immigrant buy a house. Much like the retirement account episode, I decided to do this episode in two parts because of how informative it is so make sure you listen to part II next week.
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