ITIN Tax ID Home Loan Program Breaking Down Barriers to Homeownership for Non-Us Citizens who live and work in the United States. Many of our immigrant population do not have a Social Security number and most have limited credit history which often disqualifies them from obtaining a mortgage loan or offering high interest rates and unfavorable terms.Without access to affordable financing, the benefits of homeownership remains an out-of-reach. At 1st Florida Lending, we offer an affordable ITIN mortgage lending program that allows potential homeowners with an ITIN (Individual Tax Identification number) instead of a Social Security number to purchase there dream home.All of the loans originated through the program are in good standing, proving that offering affordable, responsible financing options to those who are currently unserved or underserved by today’s traditional banking and lending institutions can result in a high quality loan portfolio.Program Highlights•Loan Amounts up to $600,000 / Min. Loan is $150,000•Up to 90% LTV with traditional credit and 620+ Fico Score•Up to 75% LTV with non-traditional credit and No Fico Score•SFR, PUD, Townhouse, Condo (Warrantable only)•New purchases, refinance and cash-out available•No pre-payment penalties•No mortgage insurance•Owner Occupied OnlyNo Credit Score ? No Problem If you have an ITIN tax number and have not established a credit score with 3 or more trade-lines, you can establish a 620 score by providing us with 12 months of on-time payments for 3 alternative sources (rent, utilities, cell, insurance, etc.).IncomeYou income must be generated in the USA – no overseas incomeW-2 income for wage earners and/or last two year tax returns for non w-2 wage earners and self-employed – OK24 months statements optional for (self-employed only)US Bank Account?Don’t Have a US bank account? You will need to establish a bank account before you loan is closed.Gift Funds For Down Payment ? Family members can help with your down payment reducing the borrowers down payment to 5%If you're interested in applying for the ITIN loan program,Click Hereto complete a home purchase profile online!
Frequently Asked Questions about ITIN Home LoansQ. Do I need to have a perfect credit score to receive a mortgage?A. No, if you not have not established credit and pay your utilities, car payments, etc.. on time with good spending habits. We can establish the required credit score of 620 using your tradelines. Q. Can a person who is not a citizen, but who pays taxes with a ITIN number get a mortgage?A. Absolutely, in fact if you are paying taxes on time it will be easier to obtain an ITIN loan.Q. Will my information be reported to the United States Citizenship and Immigration Services?A. No, if you get a ITIN, it is only reported through the IRS and they don’t care if you are a resident or not, they just want to make sure you are paying taxes.