ITIN

Mortgage Loan

An ITIN Mortgage Loan Program uses an Individual Tax Identification Number (ITIN) instead of a Social Security Number to secure a mortgage loan.  

 

An ITIN number is issued to a qualifying foreign individual for taxpaying purposes who is not eligible for a social security number or is without proper documentation. ITIN Loan is not a government insured loan.

What qualifies an undocumented buyer for an

ITIN Mortgage Loan?

U.S. Government Card, Matricula Consular ID or a Passport

2 years of employment in the same or similar line of work. Can be salary or self-employed

2 years of tax returns on the ITIN number for self-employed borrowers

Credit Score reviewed by case by case basis

10%-25% down payment on a case by case basis

How does the

ITIN Mortgage Loan Work?

The loan can be use for a Single Family Home, Townhome, Condo and 2-4 units residential

The property can be used as a primary residence, second home, or even an investment/rental property

Use this loan for a purchase, refinance or cash-out refinance

43%-50% debt ratio subject to compensating factors

Up to 50% of gift funds allowed for downpayment

DACA

Mortgage Loan

You want to buy a home, but the bank denied your mortgage application because you’re in the Deferred Action for Childhood Arrivals (DACA) program. 

 

Don’t give up on your dream of home ownership.

You can get a mortgage if you’re in the DACA program. DACA recipients are eligible for conventional loans.

Documents

Social Security Number

 

Current Employment Authorization Document (EAD card) issued by the U.S. Citizenship and Immigration Services (USCIS) with C33 category

Previous expired EAD Card. Lenders will assume that the USCIS will continue to renew your residency status.

Requirements

A 620 minimum credit score

 

Stable employment and income

 

3% down payment for a single family home, condo, or townhome