ITIN Mortgage Loan
For Borrowers who do not have a Social Security number
- 12 or 24-Month Bank Statement Options
- Full Documentation Option
- Purchase or Rate & Term Available: Up to $750,000
- Cash-Out Refi Available: Up to $550,000 with 75% LTV and 680 FICO
- Maximum DTI: 50% Purchase or Rate & Term / Maximum DTI: 43% Refi Cash Out
- SFR, PUD, Townhomes, Duplexes, and Warrantable condos only (9 stories or less)
- Primary Residences Only
- Terms Available: 30 year or 15 year fixed
- 3 Months Reserves
- Gifts allowed (up to 50% of downpayment)
- No Escrow Waivers. No Interest Only
Min Fico
640
Max LTV
80%
Individual Tax Identification Number (ITIN) loans are for borrowers who do not have Social Security numbers. Borrowers with ITIN cards can qualify for a mortgage as long as they meet the eligibility requirements. This loan product is a full doc non-QM mortgage offering flexibility for individuals residing in the United States.
FAQ's
What is the benefit to originators who use non-QM loan products?
Originators who utilize non-QM offer a service that their competition may not offer. They become an expert and go-to for the non-QM borrower. The benefit is increased referrals and business growth despite changes in the market. Continue to increase your volume each year regardless of fluctuating interest rates, tighter Agency guidelines, and a slowing refinance market.