ITIN

An ITIN mortgage is a home loan option available to individuals who do not have a Social Security number and instead use an Individual Taxpayer Identification Number (ITIN) for tax purposes. This type of mortgage is primarily used by non-U.S. citizens, including foreign nationals.

ITIN mortgages are available to any individual with an ITIN, instead of a Social Security number. This includes foreign nationals working in the U.S. and other non-resident aliens who earn income in the U.S.

The documentation required for an ITIN mortgage typically includes a valid ITIN, proof of steady income and employment, credit history (or alternative credit documentation), and a down payment. The specific requirements can vary depending on the lender.

The key differences between an ITIN mortgage and a traditional mortgage include the use of an ITIN instead of a Social Security number, potentially higher down payments, higher interest rates, and sometimes more stringent documentation requirements.

Yes, ITIN mortgages can help individuals build their credit history in the United States, similar to how traditional mortgages impact credit scores.

Often, yes. Due to the perceived higher risk associated with ITIN mortgages, lenders may charge higher interest rates compared to traditional mortgages.

The required down payment for an ITIN mortgage can vary, but it is generally higher than that for conventional mortgages. It can range from 15% to 30% of the home’s purchase price, depending on the lender.

Yes, refinancing options are available for ITIN mortgages, but they depend on the lender’s policies and the borrower’s creditworthiness and financial stability.

While there aren’t many specific programs for ITIN mortgage borrowers, some non-profit organizations and local housing authorities may offer assistance or guidance. It’s advisable to explore local resources and housing assistance programs.

The risks of an ITIN mortgage include higher interest rates and down payments, which can lead to larger financial commitments. Borrowers should also be aware of their rights and any potential for predatory lending practices.

Generally, ITIN mortgages can be used to purchase various types of properties, but this can vary by lender. It’s important to check with the lender about any restrictions on property types.

The timeline of an ITIN mortgage can vary widely based on the lender, the completeness of the borrower’s documentation, and other factors. Generally, it might take longer than a conventional mortgage due to additional documentation and verification requirements.

No, the borrower must have an active visa as of the note date or be legally present in the U.S.

 No. FHA loans require a Social Security Number for all borrowers. Our ITIN program is a Non-QM solution that lets qualified borrowers finance a home using only an ITIN — no SSN required.

Borrowers qualify using a valid ITIN card or IRS ITIN letter plus a government-issued photo ID, documented income (full doc, and other income as well), and reserves. With as little as 3 months of reserves and CLTV up to 80% for owner-occupied, the path to purchase mirrors a standard Non-QM file.

Yes. An ITIN mortgage reports to the credit bureaus like a traditional mortgage, helping borrowers establish and build U.S. credit history through on-time payments.

Requirements: a valid ITIN, government-issued ID, min FICO 660 (Super Prime) / 700 (DSCR), and as little as 3 months of reserves. Rates are scenario-based and typically run above conventional pricing; use our Quick Pricer for a live ITIN mortgage rate scenario.