More than 400,000 Cubans with I-220A are striving to regularize their status in the United States and establish their homes permanently in the country. Many are asking themselves whether they can or cannot buy a house in this context of such uncertainty.
The Cuban-American realtor Dolly Torres explained in a conversation with journalist Mario J. Pentón that the real estate market in the United States offers unique opportunities for migrants, including Cubans with I-220A who wish to purchase a home.
Although they face legal and financial challenges, many immigrants have succeeded in settling down and acquiring properties in the country after demonstrating reliable financial behavior.
Requirements to buy a house with I-220A
Torres explained that Cubans with I-220A, a document of supervised release, can purchase homes as long as they meet certain requirements.
“The most important thing is to have a valid work permit and to demonstrate to the bank that they will be working for at least the next two years,” detailed the expert, who works as a realtor in Florida and Kentucky.
The credit history and tax compliance are key in this process. “If you have filed your taxes and maintain your work permit, you can access mortgage programs that facilitate purchasing,” Torres stated.
In states like Kentucky, he added, there are programs designed for those with a good credit history, even if they have only been working in the United States for a year.
High prices and options in South Florida
Although Miami and its surrounding areas are popular among Cubans, Torres acknowledged that housing prices in this region are much higher.
According to data from Miami Realtors, the average price of a condominium in Miami-Dade reached $415,000 in 2024, while in Broward it is $280,000. Despite these costs, the inventory of available properties has grown significantly, benefitting buyers.
For those seeking more affordable options, Torres recommends exploring other cities with lower living costs, good employment opportunities, and quality educational services—factors highly valued by Cuban families.
Financial education: A fundamental step
Torres emphasized the importance of financial education for new immigrants arriving in the country. “Credit history is crucial. It's important to educate oneself in this area, save for closing costs, and avoid wasteful spending to maintain an ideal credit score above 700 points,” he advised.
Buying a house in the United States involves challenges, such as high mortgage rates, which currently range from 6.5% to 6.9%, according to the Federal Reserve Bank.
However, it also represents a long-term commitment to life in this country, consolidating roots and providing stability to Cuban families.
As the real estate market continues to evolve, the chances of Cubans with I-220A accessing homeownership reflect a significant shift in their opportunities for integration and progress in the United States.
Frequently Asked Questions about Home Purchase for Cubans with I-220A in the United States
Can Cubans with I-220A buy a house in the United States?
Yes, Cubans with I-220A can buy a house in the United States as long as they meet certain requirements, such as having a valid work permit and demonstrating job stability for at least two years. Additionally, it is important to have a good credit history and meet tax obligations.
What challenges do Cubans face with I-220A when acquiring a home?
Cubans with I-220A face legal and financial challenges in acquiring a home, including uncertainty regarding their immigration status and the need to demonstrate financial stability. Additionally, they must adapt to high mortgage rates and elevated housing market prices in the U.S.
What alternatives are available for Cubans who cannot buy a traditional house?
An accessible alternative for Cubans are mobile homes, which provide an economical and flexible option for those seeking their own place without taking on significant debt. These homes allow owners to save money and have a furnished space while contemplating a future investment in a permanent property.
What is the importance of financial education for Cuban immigrants in the U.S.?
Financial education is crucial for Cuban immigrants seeking to settle in the U.S. and acquire a home. A good credit history, saving for closing costs, and understanding how to maintain an ideal credit score are essential for facilitating the process of purchasing a property.
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