What is an ITIN loan?
Foreign National/ITIN Loans. Individual tax identification number (ITIN) loans are for people who are not eligible for Social Security numbers. (ITINs are issued to both resident and nonresident aliens for tax-reporting purposes.) ITIN mortgage loans provide an opportunity at home ownership for undocumented immigrants. Neither citizenship or a social security number are required. To apply for an ITIN loan, you may do so using your ITIN number (individual tax identification number).
In-House ITIN Program
- Purchase and Rate and Term Refinance
- as low as 10% down
- Primary Residence only
- $80,000 - $510,400 Loan Amounts
- 43% Max DTI
- Minumum 650 Credit Score or Sufficient Non-Traditional Alternative Credit History
- 1-4 Unit Single Family Residence only and maximum 2 acres
- No Mortgage Insurance
- 2 Months PITI Reserves Required
- 12 Month VOR Required
- Unexpired ITIN Verified via ITIN card or Letter from the Irs
- Non-Occupant Co-Borrower not allowed
Broker ITIN Program:
- Purchase, Refinance, Investment Properties
- as low as 15% down
- 1 year tax returns, 1 year W2 or 1099, 1 year P & L (no bank statements required) or 12 months bank statements
- Passport, ITIN Card, Drivers License (no VISA required)
- large unverified deposits and gifts allowed with 20% down
- non-occupying co-borrower allowed if it is a parent or child relationship
**Additional Guidelines Apply. Ask For More Details.
