Traditional mortgage programs often require documentation that can make financing difficult for ITIN borrowers. ITIN mortgage programs may use different underwriting guidelines designed to evaluate a borrower’s actual ability to repay the loan. That can include reviewing:
Every loan is still subject to credit, income, property and underwriting approval.
An ITIN loan may be worth exploring if you:
Not sure if you fit the guidelines? That’s exactly what we’re here for.
One of the biggest advantages of our ITIN lending options is that there isn’t necessarily just one way to document income.
Depending on the program, income may be documented using items such as:
This can be especially helpful when traditional income documentation doesn’t tell the complete story.
Certain ITIN programs allow qualifying income to be documented using 1099 income along with supporting documentation.
Being self-employed doesn’t automatically mean you need to qualify using traditional tax-return income. Available ITIN options may include:
Qualifying income may be determined by analyzing eligible business or personal bank deposits and applicable business expenses.
Certain borrowers may qualify using a professionally prepared 12-month Profit & Loss statement along with supporting bank statements.
Self-employed borrowers may also qualify using tax returns and standard income documentation.
Alternative Credit
You don’t necessarily need years of traditional credit cards and loans to qualify for an ITIN mortgage.
Depending on the program, we may be able to document your payment history using non-traditional credit. Your rental history can be particularly important. Some ITIN options may even be available to borrowers who do not currently have a traditional credit score.
Examples can include:
There isn’t one answer for every ITIN borrower. Programs offer several possibilities depending on your credit profile, documentation and property.
Qualified borrowers may be eligible for financing with a down payment of approximately 10%, depending on the specific ITIN program. Requirements vary and are subject to underwriting approval.
Family members may be able to help with the funds needed to purchase your home.
Some ITIN options allow qualified borrowers to receive 100% of the required down payment from an eligible gift donor.
Other ITIN programs require the borrower to contribute a portion of the down payment personally before gift funds can be used. We’ll compare the available options rather than forcing your situation into one program.
ITIN mortgage credit requirements vary significantly based on the program, down payment and overall loan profile. Available options may include:
Don’t assume you can’t qualify. Some ITIN programs permit borrowers without a traditional credit score when sufficient alternative credit history can be documented.
ITIN programs are available across a wide range of loan amounts. Depending on the specific loan option, available loan amounts can range from approximately:
$130,000 to $999,999+
Loans above standard program limits may also be considered on a case-by-case basis. Your actual maximum loan amount will depend on your income, debts, credit profile, down payment, property and specific ITIN program.
Eligible properties can include:
Property and occupancy restrictions vary by program.
The home where you live.
A qualifying vacation or secondary residence.
Certain ITIN options allow financing for non-owner-occupied residential real estate.
ITIN mortgages aren’t limited to buying a home. Depending on your qualifications, financing may be available for:
Buy a new primary residence, qualifying second home or investment property.
Replace your existing mortgage to potentially change your interest rate, loan term or mortgage structure.
Qualified homeowners may be able to access a portion of their home’s equity through an ITIN cash-out refinance.
Although every loan is different, borrowers should generally expect to provide documentation such as:
DACA borrowers may also be eligible subject to applicable identification and program requirements.
Straight answers on ITIN eligibility, down payment, credit, income documentation, and occupancy.
Getting a mortgage without a Social Security number can feel complicated — but it doesn’t have to start that way. Instead of asking you to determine which ITIN program you qualify for, we’ll do that work for you.
We’ll review your:
Income → Credit → Down Payment → Employment → Property Goals
Then we’ll determine which ITIN financing options may make the most sense for your situation.
No obligation. We’ll help you understand your options and what the next step would be.