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ITIN Mortgage Loan
The Individual Tax Identification Number (ITIN) program offers loans to individuals in the United States who do not possess a Social Security number. If borrowers have an ITIN card, they may qualify for a home loan as long as they meet the eligibility requirements. This type of loan is a full-documentation, non-qualified mortgage (non-QM) that grants more flexibility to individuals residing in the United States.
Credit scores starting at 600
Maximum LTV 75%
Program Highlights:
Loans up to $2.5 million, Minimum loan of $125,000
One year seasoning for foreclosure, short sale or deed-in-lieu
Two years seasoning for bankruptcy
Primary home only
Up to 50% DTI
Non-warrantable condos allowed
One unit only
Purchase and cash-out or rate-term refinance
Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained