OPT (Optional Practical Training) is a benefit of and extension of F-1 student status that permits the individual to remain in the U.S. after completing their academic program with
permission to work in their field of study. Individuals in OPT period still hold F-1 student visa even though they are no longer enrolled students. Normal OPT period is one year from completion of the academic program with exception of students in four majors:
science, technology, engineering and mathematics (STEM). Those students who receive STEM degrees may apply for a 24-month additional extension of OPT period.
Most of lenders do not accept F-1 student visa, but we do.
We offer loans to OPT students with F1 visa
- If the loan amount is under regular conforming or high balance limits, max LTV 90%
- If the loan amount is a jumbo, max LTV 80%
- Copy of valid foreign passport
- Copy of F-1 student visa and I-94 form
- Copy of USCIS employment authorization card
- A letter from employer stating the employer has intention to sponsor borrower for working