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ITIN Mortgage Lenders



ITIN Mortgage Pre Approval Document Checklist

Eligible INTIN Mortgage Applicants /INTIN Mortgage Applicants
• Minimum Loan Amount $150,000
• DACA eligible with ITIN / SSN

If multiple INTIN Mortgage Applicants, one INTIN Mortgage Applicants must have ITIN
• INTIN Mortgage Applicants Identification
• Required documentation of the INTIN Mortgage Applicants identity at time of loan submission with final verification of
identification to be completed prior to loan funding.

The following are required on all loans:
1. Unexpired government photo ID (i.e. driver’s license)
2. Unexpired Passport from country of origin
3. Supplemental documentation: ITIN card or letter from IRS
Checking and Savings Accounts
• The two (2) most recent, consecutive months’ statements for each account are required.
• Large deposits inconsistent with monthly income or other deposits must be verified.
Tradeline Requirements:
• 2 tradelines reporting for 12+ months with activity in last 12 months or 1 tradeline reporting for 24+ months
with activity in last 12 months
1. Minimum FICO 660
2. Housing 0x30x12
3. BK (Chap 13 Discharge) 36 Mo
4. BK (Other) 36 Mo
5. Foreclosure / NOD 36 Mo
6. Short Sale / DIL / Loan Mod. 36 Mo

Credit – Housing History
• 12 months housing history is required.
If a INTIN Mortgage Applicants mortgage or rental history is not reported on the credit report, alternative documentation
showing the most recent 12-month history
• (cancelled checks, mortgage/rental statements including payment history, etc.) must be provided.
• Private landlord VORs may be considered on a case by case basis.
• LOE or rent free letter is required when a 12 month housing history is not applicable
• Private party promissory notes must be provided.

Escrow Waivers Impounds are required

Housing History Requirements
• 12 months housing history is required.

If a INTIN Mortgage Applicants mortgage or rental history is not reported on the credit report, alternative documentation
showing the most recent 12-month history
• (cancelled checks, mortgage/rental statements including payment history, etc.) must be provided.

ITIN Mortgage Lenders – Assets in Foreign Accounts

Assets in foreign accounts must meet the following requirements:
Must be verified in U.S. Dollar equivalency at the current exchange rate via or the Wall Street Journal conversion table.
• Sufficient funds to close must be on deposit at a domestic bank three (3) days prior to any
closing date.
• A copy of the two (2) most recent bank statements of the foreign account. If the funds are
not seasoned a minimum of sixty (60) days, a letter of explanation is required along with the
information to comprise a sixty (60) day chain of funds.

ITIN Mortgage Lenders Eligible Properties – 

  • Single Family Residence (SFR)
  • Planned Unit Development (PUD)
  • Low & High-Rise Condo
  • Duplex, Triplex, & Fourplex (2-4 units)

ITIN Mortgage Lenders Identification Documentation

  • US Government issued valid ID. • Copy of ITIN assignment document
  • Individual tax identification number ( ITIN) loans are for  mortgage applicants who are not eligible for Social Security numbers. ( ITINs are issued to both resident and nonresident aliens for tax-reporting purposes.) Historically, the biggest market for these types of  mortgage loans is illegal immigrants. Because of the potential for controversy around these loans, it is difficult to find many  mortgage lenders who will do them.
  • Appraisal – ITIN Mortgage Lenders Review Product • Required for certain loans – See – ITIN Mortgage Lenders guidelines for details
  • Property Types – ITIN Mortgage Lenders Approved Property types include: Single family • Townhomes • Condominiums (Non-Warrantable considered – see guidelines) • 2-4 Unit • Rural Properties • Log Homes • Modular Homes • Consideration will be given for flips within 6 months if supported comps.
  • Assets – ITIN Mortgage Lenders • Assets sourced or seasoned for 60 days
  • Cash Out – ITIN Mortgage Lenders – Cash out OK!
  • Compliance– ITIN Mortgage Lenders • Escrows required for taxes and insurance • Fully documented ability-to-repay • Compliance with all applicable federal and state regulations • No section 32– ITIN Mortgage Lenders or state high cost ITIN Mortgage.
  • Credit – ITIN Mortgage Lenders • If applicant has trade lines and a score the minimum score is 580 • If one INTIN Mortgage Applicants has scores and the co-INTIN Mortgage Applicants does not a 620 score will be used and the two scores will be averaged.
  • Reserves– ITIN Mortgage Lenders Reserves can be used as compensating factors for loan exceptions
  • Credit/Loan To Value ITIN Mortgage Lenders• 85% LTV (80% CA & IL): Primary applicant credit history must include 5 trade lines. At least 4 of these trade lines must have a 12 mo. or greater history and at least one trade line must have a 24 mo. or greater history. At least one of these trade lines must have a minimum $3,000 credit limit. One trade line can be housing history • If more than one applicant, primary applicant must have a 680 or greater credit score when using a blended score. If only one applicant, they must have a 700 or greater
  • Occupancy ITIN Mortgage Lenders • Primary Residence, Second Homes, and Investment Properties
  • Seller Concessions for ITIN Mortgage Lenders • Up to 6% towards closing mortgage offers portfolio loans to Foreign National INTIN Mortgage Applicants. No credit scores required. Max LTV 50%, minimum loan amount $300K to a maximum of of $10M. No restrictions from our regular expanded types, nor underwriting features. Investment properties for  foreign national INTIN Mortgage Applicants considered on a case-by-case basis. 

 ITIN Mortgage Lenders Explained

ITIN mortgage lenders program include No credit scores required. LTVs up to 80%.  property types include investment property, 2nd home, owner-occupied single-family, condos, duplexes, townhouses, etc. Loans are fixed rate. 

An Individual Taxpayer Identification Number ( ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine digit number that always begins with the number 9 and has a 7 or 8 in the fourth digit, example 9XX-7X-XXXX.

The IRS issues  ITINs to individuals who are required to have a U.S. taxpayer identification number but who donot have, and are not eligible to obtain, a Social Security Number (SSN) from the Social Security Administration (SSA).

 ITINs are issued regardless of immigration status because both resident and nonresident aliens may have return and payment responsibilities under the Internal Revenue Code.

Individuals must have a filing requirement and file a valid federal income tax return to receive an  ITIN, unless they meet an exception.

What is an  ITIN?

What is an ITIN used for?  ITINs are for federal tax reporting only, and are not intended to serve any other purpose. An ITIN does not authorize work in the U.S. or provide eligibility for Social Security benefits or the Earned Income Tax Credit.  ITINs are not valid identification outside the tax system.

The IRS issues ITINs to help individuals comply with U.S. tax laws and to provide a means to efficiently process and account for tax returns and payments for those not eligible for Social Security Numbers.

Who needs an ITIN?

The IRS issues ITINs to foreign nationals and others who have federal tax reporting or filing requirements and do not qualify for SSNs. A non-resident alien not eligible for an SSN, who is required to file a U.S. tax return only to claim a refund of tax under the provisions of a U.S. tax treaty, needs an ITIN.

Examples of individuals who need  ITINs include:

Non-resident aliens filing a U.S. tax return and not eligible for an SSN.

U.S. resident aliens (based on days present in the United States) filing a U.S. tax return and not eligible for an SSN.

Dependent or spouse of a U.S. citizen/resident alien.

Dependent or spouse of a non-resident alien visa holder.

How do I know if I need an  ITIN? If you do not have an SSN and are not eligible to obtain an SSN, but you have a requirement to furnish a federal tax identification number or file a federal income tax return, you must apply for an  ITIN By law, an alien individual cannot have both an  ITIN and an SSN.

The IRS processes returns showing SSNs or  ITINs in the blanks where tax forms request SSNs. The IRS no longer accepts, and will not process, forms showing “SSA205c,” “applied for,” “NRA,” blanks, etc.

Are ITINs valid for identification?

No.  ITINs are not valid identification outside the tax system. Since ITINs are strictly for tax processing, the IRS does not apply the same standards as agencies that provide genuine identity certification.

 ITIN applicants are not required to apply in person, and the IRS does not further validate the authenticity of identity documents.  ITINs do not prove identity outside the tax system, and should not be offered or accepted as identification for non-tax purposes.

Are ITINs valid for work purposes? No.  ITINs are for federal income tax purposes only.