ITIN Loan Programs

ITIN loan program offers the opportunity to apply for a mortgage even if the borrower doesn't have a social security number. However, the borrower must have an Individual Taxpayer Identification Number (ITIN). ITIN is issued by the Internal Revenue Service (IRS) to individuals who are not eligible for a Social Security number (SSN). ITIN loans typically require a high credit score and a down payment of 20% or more.

We offer mortgage loan programs specifically designed for individuals with ITIN numbers, allowing them to fulfill their homeowners hip dreams. Especially it helps non-U.S. citizens secure a loan who face unique challenges in qualifying for traditional mortgages.

Eligibility for an ITIN Mortgage Loan Program

• A valid Individual Taxpayer Identification Number (ITIN)
• Proof of a steady income and employment history
• Credit documentation
• Meet our debt-to-income ratio requirements
• 20% down payment
• Proof of residency and intent to continue living in the US

Advantages of ITIN mortgages for non-residents

• Homeowners hip: One of the most significant advantages of ITIN loan is that it enables non-US citizen to have a home in the United States.
• Flexible Qualification Requirements: Compared to conventional loans ITIN loans offer flexible qualification requirements. Lenders often consider factors beyond just credit scores, including a borrower's payment history, work stability, and overall financial situation.
• Higher debt-to-income ratio: Many lenders also allow for a higher debt-to-income ratio, which can be particularly beneficial for borrowers with fluctuating incomes.
• Wide range of property types: Non-U.S. citizens can secure loan for various types of properties, including single-family homes, condos, and townhouses.
• Better Rates than Renting: In many cases, monthly mortgage payments can be lower than rent for comparable properties, allowing borrowers to build equity instead of paying a landlord.
• Tax Benefits: Homeowners may be eligible for certain tax deductions related to mortgage interest and property taxes.
• Competitive Interest Rates: While rates may vary depending on individual circumstances and market conditions, ITIN loans can offer competitive interest rates.
• No credit history required: The ITIN Mortgage Program does not require non-US citizen borrowers to have a credit history in the U.S.

Key Features of Fannie Mae's ITIN Program

The ITIN mortgage program is offered by Fannie Mae, a government-sponsored enterprise that provides access to affordable mortgage financing. Here are some of the key features of Fannie Mae's ITIN Program:

• Available for primary residences
• Fannie Mae's ITIN Program offers both fixed-rate and adjustable-rate mortgage options to borrowers.
• Borrowers are required to make a down payment of at least 10% of the purchase price of the home.

Are you a non-US citizen interested in having home in the United States? Call our loan advisor at 877 123 XXXX or click the button below to request a free consultation with one of our mortgage advisors.

Free Consultation Request