ITIN Loans
ITIN Loans are specialized mortgage options designed for individuals who do not have a Social Security Number (SSN) but do have an Individual Taxpayer Identification Number (ITIN). These loans make homeownership accessible for non-citizens residing in the U.S. Here’s an easy-to-understand overview:
Key Features:
- Down Payment: Typically requires 10% to 20% of the home’s purchase price as a down payment.
- Fixed-Rate Terms: Choose from 15 or 30-year fixed-rate terms, ensuring that your interest rate remains stable over the life of the loan.
- Loan-to-Value (LTV): You can finance up to 90% of your home’s value with this loan.
- Loan Amounts: The minimum loan amount starts at $135,000, and you can borrow up to $3 million depending on your qualifications.
Who Can Apply?
- Minimum Credit Score: You need a credit score of at least 680 to qualify.
- Eligibility: Available to non-citizens who have an ITIN and meet the other financial requirements.
Benefits of ITIN Loans:
- Homeownership for Non-Citizens: ITIN loans provide a pathway to buying a home for those without an SSN.
- Build Credit: Successfully managing an ITIN loan can help improve your credit score over time.
- Flexible Property Types: You can use an ITIN loan to buy a variety of property types, including single-family homes and condos.
How to Get Started?
Contact me today to discuss your financial situation and see if a conventional loan is the right fit for you.
If you’re interested in applying or want more details, please fill out your name and preferred contact method below, and I’ll get in touch to help you take the next steps:
ITIN loans open the door to homeownership for non-citizens, offering a chance to secure your own home and build a stable future in the U.S.
