ITIN Loans

What is an ITIN and who has one?

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to individuals who are required to have a U.S. taxpayer identification number but are not eligible for a Social Security Number. ITINs are issued regardless of immigration status and are used to file federal tax returns and report income.

What documentation do I need for an ITIN loan?

You will need your valid ITIN, two years of tax returns filed with your ITIN, proof of income (pay stubs, bank statements, or tax returns), identification (passport or consular ID), proof of residence, and funds for the down payment and closing costs. Requirements may vary, but our loan officers will guide you through exactly what is needed.

What credit history is needed if I do not have a traditional credit score?

Many ITIN borrowers can qualify using non-traditional credit references. These include 12 months of on-time rent payments, utility payment history, phone bill payment history, insurance payment records, and other regular financial obligations. We work with specialized credit reporting to build a credit profile from these alternative sources.

How much down payment is required?

ITIN loans typically require a minimum down payment of 15-20%. The exact requirement depends on the loan amount, property type, and your overall financial profile. Down payment funds can come from your own savings, and gift funds from family members may also be accepted with proper documentation.

Are ITIN loan rates competitive?

ITIN loan rates are typically slightly higher than conventional rates, usually in the range of 1-2% above market rates. While the rates reflect the specialized nature of the program, they are competitive within the ITIN lending space and provide access to homeownership that would otherwise not be available.