Can I Get A Mortgage Loan Using My ITIN?

Blog Post Image

The answer is yes! Individual Tax Identification Numbers are issued to both resident and nonresident immigrants for tax reporting purposes.  For people who are not eligible for social security numbers applying for an ITIN number is a good case of undocumented immigrants contributing to our communities and economies.  Owning a home is a big dream for documented and undocumented immigrants and ITIN Loans make this dream possible.  We at Key City Lending specialize in ITIN Loans and our goal is to bring our expertise and knowledge to help everyone eligible to become a homeowner.

What property can I purchase with an ITIN Mortgage Loan?

This loan is like any other conventional loan, so they are available for a single-family home, townhome, condo and even a 2-4 unit residential building.  This includes your primary residence, second home or investment property.  Just as a conventional loan the closing process can take less than 30 days but because of the bigger risk a lender takes the rates may be higher.  There are no laws or restrictions when it comes to ITIN Loans but not every lender offers ITIN Mortgage Loans.  Key City Lending has great relationships with lenders who offer and have a vast understanding of these types of loans, therefore, the closing process is faster, and the documents are straightforward. 

What makes me qualify for an ITIN Mortgage Loan?

You will need to show two years of tax returns filed under your ITIN number.  With that, we need to see a two-year employment history, it does not have to be in the same company but in the same line of work and along with that the last 30 days of pay stubs. A minimum credit score of 580 is needed to qualify and a borrower needs to contribute at least a 15% down payment.

There are a few more qualifications for a client but we understand that every situation is unique so please call us with any questions.  We will evaluate your situation and advise you on the best steps forward in becoming a homeowner.  We at Key City Lending believe in not only providing the best service, but making those dreams of owning a home for you and your family a reality.

Back to Blog