An ITIN, or Individual Tax
Identification Number, is a tax processing number assigned
by the IRS. An ITIN is a 9 digit number that will begin with
the number 9 and has a 7 or 8 as the fourth digit.
If you have two consecutive years tax returns (1040’s)
& two year work history, with three credit lines (traditional
or non-traditional), I can provide you with a home mortgage.
Credit lines can be a credit card, a car payment or something
as simple as a cell phone account.
Mortgages can be for a Single Family home, a Condo, a Planned
Unit Development or a 2 unit home up to $533,850.00. 30 year
fixed and adjustable mortgage loans, for purchase or rate
& term refinancing.
The ITIN Mortgage Programs are usually Full Documentation
loans, and can receive financing as high as 95%. These loans
usually require a credit report (if available), 2 years of
employment and income tax documentation.
ITINs have been used by major Banks across the country for
the past 5 years, to allow undocumented aliens to open savings
and checking accounts, and obtain credit cards.
You are a qualified borrower, if you
can provide:
Tax Payer Identity established by an ITIN or valid SSN
Two years Tax returns & two year work history
Three Credit Lines, Traditional or Non-traditional
Home Buyer Education certificate from approved non-profit (before
closing)
Although the IRS requires people to have an ITIN to to pay taxes,
they are now becoming popular as a method of obtaining mortgages,
for undocumented aliens. ITINs are acceptable forms of ID as
described by the Patriot Act.
ITIN Mortgage loans can be used for Single Family Homes, 2 Family
Homes, Condos and PUDs. Due to high risk for the lender, these
loans will usually have a higher rate then conventional financing.
For more information on our ITIN Mortgage Loan Program, please
contact us |
