South Florida's Cuban community has long been one of the largest and most economically established immigrant communities in the United States. Many Cuban nationals in South Florida hold work authorization under the Cuban Adjustment Act — a legal pathway that permits Cuban nationals who have been physically present in the United States for at least one year to apply for lawful permanent residence. During the period between arrival and the granting of a Green Card, Cuban nationals hold a CU-10 employment authorization document — a work permit. This authorization is recognized by mortgage lenders, and CU-10 holders qualify for South Florida mortgages.
What the CU-10 Authorization Is
The CU-10 code on an Employment Authorization Document (EAD) identifies the holder as a Cuban national adjusting status under the Cuban Adjustment Act of 1966. The authorization is not a Green Card — it is a temporary work permit issued while the permanent residency process is underway. It is renewed periodically until the permanent residency application is adjudicated.
From a lending standpoint, the CU-10 EAD establishes the borrower's lawful presence and work authorization in the United States. It is a recognized non-citizen category for mortgage purposes.
Conventional vs. Non-Agency Programs for CU-10 Holders
Conventional programs — loans sold to Fannie Mae or Freddie Mac — accept non-citizen borrowers with specific valid immigration statuses. CU-10 holders with a valid EAD and a Social Security Number are generally eligible for conventional financing, subject to credit and income requirements. The practical limitation for many CU-10 holders is the US credit file. Cuban nationals who arrived recently may have a thin credit history that makes the conventional path unavailable.
Non-agency programs provide an alternative for CU-10 holders with thin credit files, shorter US residency history, or income structures that do not conform to W-2 documentation. Bank statement programs and foreign national portfolio programs can accommodate CU-10 borrowers depending on how their income is documented.
If you hold a CU-10 work permit and are planning a South Florida home purchase, Rafael identifies the programs available for your credit profile and income documentation — and can advise on credit-building if the timing requires it.
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W-2 employees — Cuban nationals employed by US companies — qualify through standard documentation: two years of employment history in the same field supports conventional or non-agency qualification. Self-employed borrowers who own businesses in South Florida qualify through bank statement programs or P&L programs, where tax returns that reflect aggressive deductions are replaced by deposit history or accountant-prepared financials.
Some CU-10 holders have income from a Cuban-based business or family operation in addition to US-source income. The foreign national program components that accept home-country income documentation can be blended with the US income picture if the lender's program supports it.
The South Florida Context
South Florida, and Miami-Dade County in particular, has a deeper institutional familiarity with Cuban Adjustment Act beneficiaries as mortgage borrowers than virtually any other market in the country. Local real estate attorneys, title companies, and mortgage professionals have processed these transactions for decades.
Rafael's own background and his 25 years working in this community mean that the CU-10 buyer is one of the most familiar client profiles he serves. The conversations happen in Spanish when that is what the client prefers, and the documentation requirements are explained in terms that make the process clear rather than complicated.
Building the Credit File in Advance
CU-10 holders who are 12 to 18 months from their anticipated purchase benefit from early credit-building. Rafael advises clients on the specific steps that build a qualifying credit file most efficiently: opening a secured credit card with a recognized US issuer and using it consistently with on-time full payment; becoming an authorized user on a family member's established account; opening a small personal loan through a credit union and making regular payments.
Three to four months of consistent credit activity begin establishing the file. Twelve months of consistent activity typically produces a qualifying score for most non-agency programs. Eighteen to twenty-four months supports conventional qualification.
Frequently Asked Questions
Rafael Amaro · NMLS 1976196 · Wealth Growth Partners · Boca Raton, FL · Sponsored by Premier Lending, Inc. NMLS #238143 · This briefing is for informational purposes only and does not constitute legal, tax, or financial advice. Program availability, qualification requirements, and down payment minimums are subject to change and vary by lender. Consult qualified legal and tax counsel regarding entity structuring and US estate tax obligations.