Can Cubans with I-220A Buy Homes in the United States?

Over 400,000 Cubans holding an I-220A document are striving to regularize their status in the United States and establish permanent homes. Many wonder if they can purchase property amid this uncertainty. Cuban-American realtor, Dolly Torres, shared insights with journalist Mario J. Pentón, highlighting unique real estate opportunities for immigrants, including Cubans with I-220A, who are eager to buy homes.

Despite facing legal and financial hurdles, many immigrants have successfully settled and bought properties in the U.S. by maintaining a reliable financial track record.

Steps to Homeownership for I-220A Holders

Torres clarified that Cubans with I-220A, a document granting freedom under supervision, can indeed purchase homes if they meet certain criteria. "The key is having a valid work permit and proving to the bank that they will be employed for at least the next two years," explained Torres, a realtor based in Florida and Kentucky.

A solid credit history and tax compliance are essential in this process. "If they've filed their taxes and maintain their work permit, they can qualify for mortgage programs that facilitate home buying," assured Torres. In states like Kentucky, programs exist to aid those with a good credit history, even if they've only been working in the U.S. for a year.

High Prices and Alternatives in South Florida

While Miami and its surroundings are popular among Cubans, Torres acknowledged that housing prices in this area are significantly higher. According to Miami Realtors, the median price for a condo in Miami-Dade reached $415,000 in 2024, while in Broward, it's $280,000. Despite these costs, the inventory of available properties has grown, benefiting buyers.

For those seeking more affordable options, Torres suggests exploring other cities with lower living costs, good employment opportunities, and quality education services, which are highly valued by Cuban families.

Financial Education: A Crucial Step

Torres emphasized the importance of financial education for new immigrants. "Credit history is crucial. It's important to be informed, save for closing costs, and avoid unnecessary expenses to maintain a credit score above 700," she advised.

Purchasing a home in the United States involves challenges, such as high mortgage rates, currently ranging from 6.5% to 6.9%, according to the Federal Reserve Bank. However, it also signifies a long-term commitment to life in the country, helping Cuban families establish roots and stability.

As the real estate market continues to evolve, the prospects for Cubans with I-220A to access homeownership reflect a significant shift in their opportunities for integration and advancement in the United States.