For non-US citizens interested in purchasing a home, ITIN loans can serve as an effective option for achieving homeownership. These loans are specifically tailored for individuals who do not possess a Social Security number, including foreign nationals, expatriates, and DACA recipients who might struggle to qualify for conventional home loans.

One of the primary benefits of ITIN loans is their adaptability. With FICO scores starting at 640, loan-to-value (LTV) ratios up to 80%, and debt-to-income (DTI) ratios reaching 41%, a broader range of borrowers can meet the qualifications for these loans. Furthermore, applicants must have six months’ worth of reserves set aside; the minimum loan amount is $200,000 while the maximum limit reaches $850,000.

ITIN loans cater to both purchase transactions and rate/term refinancing options for primary residences, second homes, or investment properties—including single-family residences (SFR), planned unit developments (PUD), condominiums, and multi-unit buildings with two to four units. Through ITIN loans, individuals can fulfill their aspiration of owning a home even without a Social Security number.

In summary, ITIN loans present an accessible solution for non-US citizens aspiring to own property. With flexible conditions, competitive interest rates, and various eligible property types available for financing, ITIN loans create opportunities for homeownership that may not otherwise be achievable. If you’re keen on finding out more about ITIN loan options, reach out to EstaR Mortgage today.

*Please note that all guidelines may change at any time by our broker source lenders without prior notice.*