DreamBuilder Program · Licensed in NJ · CT · FL · NMLS #1630225
The DreamBuilder Program — A Route to a Mortgage Without a Social Security Number
The Dreambuilder Program is an FHA-backed purchase route built for buyers a standard file turns away: it accepts an ITIN instead of a Social Security number, takes DACA and non-permanent residents, and will work from bank statements, a 1099 or asset depletion rather than two years of tax returns. You need 580 and 3.5% down, and it finances up to 96.5% of the price. It is a purchase program only, on a primary residence, at a 30-year fixed rate.
Last updated August 2026 · reviewed by a licensed mortgage broker
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What Is It
The DreamBuilder program helps buyers cover their down payment and closing costs with down payment assistance, so you can buy a home with little or nothing out of pocket. Below is how the DreamBuilder program works and who qualifies.
What Is the DreamBuilder Program?
The DreamBuilder Program is a Housing Empowerment Program designed to open the door to homeownership for buyers who do not fit the traditional mortgage mold. A HUD-approved non-profit government entity facilitates the purchase transaction, allowing buyers to enter a Structured Financing Agreement that ultimately transitions them into full homeownership. It is an FHA-based program with 30-year fixed rate financing and a minimum down payment of 3.5%.
What makes DreamBuilder different is who it accepts. Where traditional lenders require W-2 income and a Social Security Number, DreamBuilder accepts bank statement income, 1099 income, ITIN numbers, and even asset depletion. Credit scores as low as 580 are welcome, and scores below 580 may be considered on a case-by-case basis. If you have been denied a mortgage before because of how you earn income or your immigration status, this program was built for people in exactly that situation.
Eligibility
Who Can Use the DreamBuilder Program?
Eligibility for the DreamBuilder Program is broader than most buyers expect. Here is a clear breakdown of who qualifies.
U.S. Citizens
Standard FHA guidelines apply. U.S. citizens with a 580 or higher credit score and sufficient income documentation qualify for the full DreamBuilder Program with 3.5% down.
Green Card Holders
Non-U.S. citizens with a green card and Social Security Number are eligible for the DreamBuilder Program under the same general terms as citizens. A valid green card is required at the time of application.
DACA Recipients
Deferred Action for Childhood Arrivals (DACA) recipients are eligible with an ITIN number and documented proof of ability to repay the loan. This is one of the few programs that explicitly welcomes DACA buyers.
ITIN Borrowers
Buyers who file taxes with an Individual Taxpayer Identification Number are eligible. ITIN income, including self-employment and 1099 income documented with bank statements, is accepted under DreamBuilder guidelines.
Self-Employed Buyers
Traditional full documentation is not required. DreamBuilder accepts bank statement income, P&L statements with 3 months of bank statements, 1099 income, and WVOE (Written Verification of Employment) combined with bank statements.
Buyers With Thin Credit
A minimum of one tradeline with 12 months of satisfactory history is required. Alternative credit histories may also be considered. You do not need a perfect credit file to qualify for this program.
DreamBuilder Program Credit Score Guidelines
The DreamBuilder Program has a more flexible approach to credit than most mortgage programs. Here is what you need to know before you apply.
Income Options
How DreamBuilder Verifies Your Income
One of the most important features of the DreamBuilder Program is its flexible approach to income documentation. You do not need to show W-2s or a traditional employment history to qualify. Here are the accepted income types.
| Income Type | Documentation Required | Good For |
|---|---|---|
| Full Documentation | One year of tax returns and/or W-2s | W-2 employees, salaried workers |
| Bank Statement Only | 3 months of personal bank statements | Self-employed, cash business owners |
| P&L + Bank Statements | Profit & Loss statement + 3 months statements | Business owners, contractors |
| 1099 + Bank Statements | 1099 forms + 3 months bank statements | Independent contractors, gig workers |
| WVOE + Bank Statements | Written verification + 3 months statements | Informal employment, family businesses |
| Asset Depletion | Documented liquid assets | Retired buyers, high-asset, low-income |
| Automated Cashflow | Bank account cash flow analysis | ITIN borrowers, non-traditional earners |
Costs to Know
DreamBuilder Program Fees at Closing
The DreamBuilder Program has specific fees that buyers need to budget for in addition to standard closing costs. Knowing these upfront prevents surprises at the closing table.
Standard DreamBuilder Fees
- $1,250 program underwriting fee
- One month’s contract/lease payment collected at closing
- Program Management Fee: 0.5% of purchase price
- $100 refundable occupancy agreement security deposit (if using long-term purchase agreement)
- $250 HOA service fee (if applicable)
- $150 notary fee
Standard FHA Costs Still Apply
- Minimum 3.5% down payment (for 580+ scores)
- FHA upfront mortgage insurance premium
- Monthly mortgage insurance
- Full FHA appraisal (ordered through approved AMC)
- Title fees per the approved title list
- Standard lender closing costs
All buyers must document sufficient cash and liquidity to cover the down payment, DreamBuilder fees, closing costs, and the first payment at closing. Two months of bank statements are required to document available assets. Business assets and investment accounts may be eligible. Gift funds are acceptable for funds to close but cannot be used for reserves.
Property Types
Eligible and Ineligible Properties Under the DreamBuilder Program
Not every property type qualifies under the DreamBuilder Program. Here is a straightforward breakdown so you know before you start your home search.
Single Family Homes
Attached and detached single family residences are eligible. This is the most common property type financed through the DreamBuilder Program.
2-Unit Properties
Attached and detached 2-unit properties are eligible as a primary residence. An excellent option for buyers who want to live in one unit and rent the other to help cover the mortgage.
Condominiums
FHA-approved condominiums are eligible. Spot approvals are not accepted — the condo project itself must hold full FHA project approval.
Manufactured Homes
Multi-wide manufactured homes are eligible. Single-wide manufactured homes are not accepted under current DreamBuilder guidelines.
Townhomes & PUDs
Townhomes and Planned Unit Developments (PUDs) are eligible property types under the DreamBuilder Program.
3–4 Unit & Co-ops
3 and 4-unit properties, cooperative properties, and single-wide mobile homes are not eligible under current DreamBuilder guidelines.
Our Process
How We Help You Get Approved for the DreamBuilder Program
Mortgage-World.com has been originating mortgages since 2017, and Chris Luis has been a licensed loan officer since 2002. Here is exactly what happens when you reach out to us about the DreamBuilder Program.
Free Consultation — We Review Your Situation Honestly
The first step is a conversation. We look at your income type, credit profile, immigration status, and what you can bring to closing. We will tell you right away whether the DreamBuilder Program is the right fit or whether a different program serves you better. No runaround, no pressure.
We Determine the Right Income Documentation Path
DreamBuilder accepts many income types that conventional lenders will not touch. We review your actual income sources — whether that is bank statements, 1099s, WVOE letters, or asset depletion — and match you to the documentation method that gives you the strongest file. Which one you use changes how much you qualify for.
We Handle the Credit and Exception Process If Needed
If your score is below 580 or you have a prior bankruptcy or foreclosure, we do not just decline your file. We walk through the specific exception criteria and evaluate whether a case-by-case approval is realistic for your situation. We have helped buyers in complicated credit situations close on homes others said were impossible.
Pre-Approval That Means Something
Our pre-approval letters are backed by a real review of your file. When you make an offer on a home, sellers and agents take our letter seriously because it reflects actual lender review of your income, credit, and assets — not just an automated number pulled from an app.
We Stay With You Through to Closing
The DreamBuilder Program has specific underwriting requirements and additional fees that need to be coordinated carefully. We manage every step of the process from application to closing day — staying in communication, responding to underwriting requests quickly, and making sure your closing is not delayed by something that could have been handled in advance.
Before You Start
What Happens After You Apply
- You send the application
A few minutes online. No documents at this stage.
- A licensed loan officer calls you
Someone on our team covering your state.
- We ask for documents and pull credit
Only once you have decided to move forward.
- You get an approval to shop with
Typically back within the hour.
What Clients Say
Real Reviews From Our Clients
Here’s what a few of our clients said about working with Mortgage-World.com.
FAQ
DreamBuilder Program — Frequently Asked Questions
Related down payment pages: Down payment assistance overview · First-time home buyer programs · FHA down payment.
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Find out if the DreamBuilder Program fits
A licensed loan officer will look at your score, how you document income, and whether you have a Social Security number or an ITIN, and tell you whether this is the right route or whether a standard FHA loan would serve you better and cost you less.
Written and reviewed by Chris Luis, Broker/Owner of Mortgage-World.com, NMLS #1630225. About the author