H1Bs are no longer eligible to apply for mortgages insured by the FMA from May 25. They must use conventional loans which needs bigger down payment and higher credit scores.

Leading to fewer people buying houses.

This is going to impact the housing market in areas drenched by H1Bs like Dallas, San Francisco Bay, Seattle, Austin, Boston. Hold on to your asses.

Trump is slowly and gradually squeezing H1Bs out of the country.

H-1B Visa Holders Disappear From US Housing Market
https://www.newsweek.com/h-1b-visa-holders-disappear-from-us-housing-market-10882216
Oct 15, 2025 at 10:02 AM EDT

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The number of new FHA mortgages granted to non-permanent residents has dropped to near-zero following the Trump administration's recent executive orders targeting immigrants, according to new data.
In a March 26 letter, the Department of Housing and Urban Development announced that non-permanent residents in the United States, including H-1B visa holders, would no longer be eligible for mortgages insured by the Federal Housing Administration (FHA), effective May 25.

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Quote:

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The move, the letter said, was in line with President Donald Trump's "commitment to safeguarding economic opportunities for U.S. citizens and lawful permanent residents," while also ensuring that "federal benefits, including access to FHA-insured mortgages, are reserved for individuals who hold lawful permanent resident status."
The impact of these policy changes has already become evident in the U.S. housing market, "reshaping the housing market for non-permanent residents," Alex Thomas of John Burns Research & Consulting (JBREC) posted on X.
What Do The Latest Numbers Show?

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Quote:

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A new report by JBREC, authored by Thomas and colleagues Eric Finnigan and Zack Ray, found that non-permanent residents, also referred to as NPRs, made up less than 1 percent of FHA loan volume nationally in June, down from nearly 5.5 percent a month earlier and over 6 percent in April.
In July and August, the share of non-permanent residents securing the government-backed loans issued by the FHA was near zero percent. That was the lowest level in the timeline provided by JBREC, which dates back to February 2018.
"New FHA mortgages to NPRs have dropped to near-zero following a rule change in May," Alex Thomas, one of the experts behind JBREC's new report, wrote on X. "NPRs made up ~4 percent of FHA loan volume nationally in 2024; more in some markets, especially in Florida."

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Last week, @JBREC clients got access to a new piece from me and @EricFinnigan on how recent policy changes are reshaping the housing market for non-permanent residents (NPRs).

One notable finding: new FHA mortgages to NPRs have dropped to near-zero following a rule change in… pic.twitter.com/f5Zcvm0uwl

— Alex Thomas (@housing_alex) October 14, 2025

On the one hand "I don't care" because H1B. On the other - I'm not really sure these people are costing us anything here. Its not like they are going to invest in a house and then just default on it and go back to India without selling. Seems more of a solution looking for a problem.

But again...on my list of things I worry about this isn't even in the top 100 regardless of the decision.

All Indians must go

How will it affect 7-11 ownership, though?

Good , now if we can get ICE involved with builders labor …..

Poor Frisco.

Good, GTHO

H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

We don't need any H-1B visas. America is full.

And EB-1A Einstein visas need to be strictly limited.

Burrus86 said:

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How will it affect 7-11 ownership, though?

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Over time, you won't have to hold your breath if you go inside one.

javajaws said:

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On the one hand "I don't care" because H1B. On the other - I'm not really sure these people are costing us anything here. Its not like they are going to invest in a house and then just default on it and go back to India without selling. Seems more of a solution looking for a problem.

But again...on my list of things I worry about this isn't even in the top 100 regardless of the decision.

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In theory, they are displacing a US worker to whom the employer probably has to pay a much higher salary.

DallasAg 94 said:

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Poor Frisco.

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You forgot Allen, Coppell, McKinney, Plano, and Southlake.

I'm sure I'm missing a few.

doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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Well you are likely loaning the money.

How im guessing it happens:
Bank makes loans.
Bank packages loans based on credit score, payment history.
Bank sells that as a package to a financial institution after it gets a bond rating.

If you watched the big short. Imagine that. Now do you think people cared if the loans were made to citizens, h1bs etc? No. The goal is to create such a mess and have regular people on the hook so if it goes belly up they have to be vailed out because otherwise regular people will lose the money.

doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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2004 to 2007 ARM loans say hi.

doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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It depends on where you are in the process. If you have started your Green Card application, then you are an attractive customer.

I don't think there's many H1B holders fresh off the boat, who are buying houses. Getting citizenship legally can take 10-15 years - so you have a sponsor, you have income, and you are in for the "long" haul - at least 5-10 years from the banks perspective

texagbeliever said:

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doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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Well you are likely loaning the money.

How im guessing it happens:
Bank makes loans.
Bank packages loans based on credit score, payment history.
Bank sells that as a package to a financial institution after it gets a bond rating.

If you watched the big short. Imagine that. Now do you think people cared if the loans were made to citizens, h1bs etc? No. The goal is to create such a mess and have regular people on the hook so if it goes belly up they have to be vailed out because otherwise regular people will lose the money.

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NINJA loans were all the rage with illegals "no income, no job, and no assets". Oh the good ole days.

What if American homes were affordable to Americans? That's so wild.

Quote:

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NINJA loans were all the rage with illegals "no income, no job, and no assets". Oh the good ole days.

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I was a real estate transactional lawyer back then. Checking those loan packages to prepare for a closing in the Wild Wild West of mortgage brokers, it was cringeworthy. Made a lot of money but saw the implosion coming and got out of the biz in 2005. Only took three more years before the crash.

They must go back

Ol_Ag_02 said:

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DallasAg 94 said:

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Poor Frisco.

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You forgot Allen, Coppell, McKinney, Plano, and Southlake.

I'm sure I'm missing a few.

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Liberty Hill, Cedar Park, Leander, and Georgetown

javajaws said:

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On the one hand "I don't care" because H1B. On the other - I'm not really sure these people are costing us anything here. Its not like they are going to invest in a house and then just default on it and go back to India without selling. Seems more of a solution looking for a problem.

But again...on my list of things I worry about this isn't even in the top 100 regardless of the decision.

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You should care. Because it hurts you, your kids, your grandkids. If you don't have these, then it hurts your friends and your country men and women.

1. A job an H1B takes up is something that an American is deprived of. Win-lose. Don't buy into corporate bs of "we didn't have skills in the US, so we had to bring in Rajesh". US corporations don't want to hire fresh grads and train them and build a pipeline of local talent. Instead they want quick fixes which in the long run robs the country of expertise as locals can't get trained and foreigners can.

2. H1Bs not getting loans means housing prices will fall in H1B-rich cities. That means Dallas, SF, Seattle etc. That may not be bad news but if you bought at the high, it could be. In areas where only H1Bs can afford, it could cause a crash.

3. H1Bs send a lot of money out of the country. Usually to India. That money does not circulate in the US economy like it should It is gone forever.

4. As H1Bs take up more and more jobs, locals cannot get those jobs so they leave and get into lower paying jobs. So tax revenues fall and US cities start to suffer. Eventually we become the 3rd world.

Remember, nothing in life is free. We sold out our long term interest for short term gains. Now we suffer. We better reverse this.

deddog said:

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doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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It depends on where you are in the process. If you have started your Green Card application, then you are an attractive customer.

I don't think there's many H1B holders fresh off the boat, who are buying houses. Getting citizenship legally can take 10-15 years - so you have a sponsor, you have income, and you are in for the "long" haul - at least 5-10 years from the banks perspective

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They are getting houses, expensive houses.

Only American citizens should be able to own homes or land

deddog said:

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doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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It depends on where you are in the process. If you have started your Green Card application, then you are an attractive customer.

I don't think there's many H1B holders fresh off the boat, who are buying houses. Getting citizenship legally can take 10-15 years - so you have a sponsor, you have income, and you are in for the "long" haul - at least 5-10 years from the banks perspective

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I don't think you are right.

These days (prior to Trump) people from India are high on self-confidence. They come to the US, all to the hot spots like SF and Seattle, and within 2-3 years buy a house. It may be a small one but they do. I worked at a company with SF offices and many of my coworkers were this way. Fresh of the boat and with houses in SF.

deddog said:

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doubledog said:

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H1B are just work visas (they are not green cards) that may be rescinded at any time for any reasonable cause. Why would any one loan an H1B visa holder any money?

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It depends on where you are in the process. If you have started your Green Card application, then you are an attractive customer.

I don't think there's many H1B holders fresh off the boat, who are buying houses. Getting citizenship legally can take 10-15 years - so you have a sponsor, you have income, and you are in for the "long" haul - at least 5-10 years from the banks perspective

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In my experience working in electronics, most H1Bs are new hires right out of US grad schools. They buy homes generally like most new graduates, generally a year or two after graduating and getting a full time job. I've never known one not able to get a home loan as long as they had full-time employment.

Prior to the last year or so, H1Bs were stable employment at least where I have worked. The only real risk I've seen is they might travel home to visit family, then have difficulty getting back in. But they always got back in.

Again in my perspective, an H1B was never a temporary work permit but a gateway to a green card.

javajaws said:

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On the one hand "I don't care" because H1B. On the other - I'm not really sure these people are costing us anything here. Its not like they are going to invest in a house and then just default on it and go back to India without selling. Seems more of a solution looking for a problem.

But again...on my list of things I worry about this isn't even in the top 100 regardless of the decision.

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It jacks up housing prices because there are more buyers in the market. Makes it harder for citizens to own a home.

Taking care of the citizens of the Republic.

samurai_science said:

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Ol_Ag_02 said:

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DallasAg 94 said:

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Poor Frisco.

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You forgot Allen, Coppell, McKinney, Plano, and Southlake.

I'm sure I'm missing a few.

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Liberty Hill, Cedar Park, Leander, and Georgetown

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Don't forget Sugarland in Houston (and parts of NW Harris county).

I see a lot of multi generational families buying houses.

Colonel Kurtz said:

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All Indians must go

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Only Indians?

Any sanity in the housing market

Even if my home value goes down

Clickbait title by Newsweek. Even before the rule change, the vast majority of mortgages taken by H1Bs were traditional rather than FHA. Just like the 100k fee, the rule change does virtually nothing to reduce the number of foreign workers.

B-1 83 said:

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Colonel Kurtz said:

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All Indians must go

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Only Indians?

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The 7-11 ones can go, the casino ones can stay.

DallasAg 94 said:

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Poor Frisco.

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What did I do?

In all seriousness, there was a Frisco HS that couldn't field a football team because of the demographics of the school. And, I would feel much safer driving on the roads up here if we reduced the H1B residents.