I wasn't an English major, but I'm pretty sure there is a significant
difference between has and dwells.
In point of fact, the verb "dwells" denotes occupancy; which is related to
places to hang your hat, e.g. house, tent, apartment, cave, castle,
cardboard box, condo, etc. whereas "has" denotes possession.
1Tim 6:16 says God possesses immortality rather than residing in it. But
then again, I wasn't an English major so if you want to construe possessing
to be synonymous with residing, well; I'm not really qualified to correct your
grammar.
_