8419 Emmett F Lowry Expy, Texas City, TX 77591
346-842-4782

Non-Permanent Resident/ITIN

Our Services

ITIN Mortgage Loan

These loans are designed to assist non-U.S. citizens in purchasing a home, giving access to the American dream of homeownership to more buyers.
GET PREQUALIFIED
Benefits
  • Opportunity for non-U.S. citizens to buy a home
  • No social security number required
  • No visa required
  • Can use gift funds for down payment & closing costs
Eligibility
  • A valid ITIN card or a letter from the IRS that clearly shows your ITIN number is required
  • Minimum down payment of 15%
  • Minimum credit score of 660
  • Applicants should have a two-year employement history

What are ITIN Loans?

An ITIN mortgage loan is also known as an ITIN loan and is a unique path toward homeownership for individuals who hold an Individual Taxpayer Identification Number (ITIN) but do not possess a Social Security number. These loans are designed to assist non-U.S. citizens in purchasing a home, facilitating access to the American dream of homeownership for a broader range of individual

Understanding ITIN Loans

An ITIN number is a tax processing identifier issued by the Internal Revenue Service (IRS) for individuals who require a U.S. taxpayer identification number but are ineligible to obtain a Social Security Number (SSN)​. ITIN mortgage loan programs are specially crafted to make homeownership more accessible, allowing individuals with an ITIN number to apply for a mortgage loan, even if they lack a Social Security number​.

How A ITIN Mortgage Loan Works

Mortgage loans with an ITIN number function similarly to traditional mortgage loans. You apply for the loan, provide the necessary documentation, and undergo a credit check. However, you provide your ITIN number instead of a Social Security number, which is used for all tax-related purposes associated with the loan​​.

Benefits of an ITIN Mortgage Loan

  • Opportunity for Non-U.S. Citizens: ITIN loans offer non-U.S. citizens the opportunity to purchase a home and invest in their future​​.
  • No Social Security Number Required: The loan application process does not require a Social Security number, which is a significant barrier for non-U.S. citizens seeking home loans.
  • Potential for Refinancing: You can refinance your ITIN mortgage loan, potentially securing a lower interest rate, reducing your monthly payments, or changing your loan term​​.
  • Acceptance of Gift Funds: ITIN loan programs allow gift funds to be used towards the purchase of a home.

Eligibility Requirements for ITIN Loans

  • Valid ITIN Card or IRS Letter: A valid ITIN card or a letter from the IRS that clearly shows your ITIN number is required​​.
  • Minimum 15% Down Payment:* Applicants must have a minimum down payment of 15% of the home’s purchase price​​.
  • Minimum Credit Score of 660: A minimum credit score of 660 is generally required to qualify for an ITIN mortgage loan​.
  • Two-Year Employment History: Applicants should have a stable employment history for at least the past two years​.
Please note, each lender may have additional requirements or variations on these basic eligibility criteria.

ITIN Loan Program Guidelines

  • FM Lending’s ITIN loan program guidelines are designed to help borrowers living and working in the U.S. with an ITIN number but no Social Security number. Both full and alternative documentation are accepted, and the program allows:

  • *Remember, other program requirements may apply, and it’s always a good idea to reach out to potential lenders to understand their specific requirements for ITIN mortgage loans.*

  • LTV up to 85%
  • DTI up to 55%
  • 12 Months Income Documentation
  • Most Property Types Accepted
  • Gift Funds Allowed
  • No Visa Required
  • Valid ID
  • Cash-Out Refinance Available up to 75% (Not available in TX or with Credit score < 640).

ITIN Mortgage Loan Rates

It’s important to note that ITIN mortgage loan rates can vary based on several factors, including your credit score, the amount of the loan, and the term of the loan. The interest rates for these loans are typically a few percentage points higher than those for conventional loan products, due to the perceived risk associated with lending to individuals who may not have a traditional credit history or Social Security number.

Take the Next Step with FM Lending

When it comes to securing your ITIN mortgage loan, selecting a mortgage lender with a strong track record in ITIN home financing is crucial. At FM, we understand the intricacies of ITIN mortgage loans and are committed to guiding you through every step of the process, ensuring a smooth, stress-free journey toward homeownership for everyone. Don’t wait another day to make your dream home a reality! Contact a mortgage expert at JVM Lending to get started.
Talk to a Specialist