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ITIN Loan program

Key features:

  • Suitable for individuals without Social Security Numbers or work permits/visas

  • 10% minimum down payment

  • 600 credit score minimum

  • No reserves required with a 20% down payment

Two Options

10% Down Payment

  • Minimum FICO of 620

  • No gift funds allowed.

  • No bankruptcy, forclosure, deed-in-lieu in last four years.

  • 3 months reserves (monthly mortgage payment + property taxes + insurance)

20% Down Payment

  • Minimum FICO of 600

  • For FICO 600-640, six months of housing history required.


What is an ITIN Mortgage Loan?

It is a mortgage program that AsertaLoans offers to individuals who do not have a Social Security Number, but have an ITIN Number (Individual Taxpayer ID Number).


Who should get an ITIN Mortgage Loan?

An individual whose status is a Non-Permanent Resident Alien. If the individual is not a US Citizen, but their status is a Permanent Resident Alien (or they have a Green Card), then they should be eligible for an FHA Loan, which has a much lower down payment of 3.5%.

Benefits of an ITIN Mortgage Loan

  1. Gives access to homeownership to those who don't qualify for a Social Security Number.

  2. Lower rates than a Hard Money Loan.

  3. Build credit with an ITIN Loan.

Disadvantages of an ITIN Mortgage Loan

  1. Rates are higher than a Conventional or FHA mortgage, typically double.

  2. Higher down payment (15-20%) than a Conventional or FHA (3.0-3.5%).

  3. Very few lenders offer them.

What do I need to qualify for an ITIN Mortgage Loan?

The minimum documents to get started would be the following:

  • US Citizenship and Immigration Services (USCIS) photo ID (example: Employment Authorization card).

  • Tax Returns for the last two years.

  • Pay Stubs for the last 30 days.

  • W2 tax statement for the last two years (if employed).

  • Bank Statements for the last two months (12 months if self-employed).

Next Steps

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