MortgagesNewsJan 29, 2024

How To Get An ITIN Mortgage Loan?

The US has the most developed financial sector in the world, with an estimated worth of around 3,6 trillion dollars. The sector offers an incredible amount of services, including ITIN mortgage loans. Apart from being the main topic of this article, ITIN mortgage loans are a specific type of non-qualified mortgage loans mainly aimed at helping ITIN card holders purchase their primary residence in the US (with very few exceptions). 

So, before we tell you more about ITIN mortgage loans and some of the main things to consider before applying for one, let’s first review some basic information about the ITIN number just to make sure we’re all on the same page.

Let’s start!

What Is ITIN?

ITIN or Individual Taxpayer Identification Number is a tax processing number the IRS issues to individuals who are not eligible to receive an SSN (Social Security Number) but still need to comply with US tax laws. ITIN is a nine-digit number that always begins with a “9”. Currently, there are more than 21 million ITIN users in the US, including:

  • Foreign nationals who are legally working in the US and need to file tax returns
  • Foreign nationals who own business in the US and need to file tax returns
  • Permanent US residents who do not have citizenship
  • Dependents of foreign nationals or resident aliens

We can help you get an ITIN!

What Are ITIN Mortgage Loans?

ITIN mortgage loans are non-QM loans, designed to help non-US citizens (who are not eligible for an SSN) purchase a home in the US. These loans can help resident aliens who work and live in the US and are otherwise ineligible for conventional mortgages to finance their future primary residence.  

ITIN mortgage loans can be used to purchase various types of properties, including:

  • Single-family homes
  • Condos
  • Townhouses
  • Unit or units in residential buildings 

The important thing to note about ITIN loans is that they are not really meant for investors (i.e., those who want to buy rental properties in the US). This means that ITIN mortgage loans should primarily be used by ITIN cardholders who wish to purchase a primary residence in the US, but that’s not always the case. There are certain ITIN mortgage lenders that will approve a loan for an investment property, although it’s far less common.

Now, if you’re an ITIN card holder and want to invest in US rental property, don’t get discouraged by this information. Due to the highly developed US financial sector, numerous financing options exist for foreigners who want to invest in US real estate. So, if you’re one of them, be sure to check out the linked article.

We can help you find ITIN mortgage lenders even if you don’t fulfill all the requirements. Book a call and see what we can do for you!

ITIN Mortgage Loans: 3 Main Things to Consider

Because ITIN mortgages are non-QM loans, the exact requirements for each application will be determined by individual ITIN mortgage lenders. This means that getting a home loan with ITIN number will be different for everyone. However, there are certain things that are commonplace and that you should definitely consider when applying for an ITIN mortgage loan. They are:

1. Your Budget

Your budget, when applying for ITIN mortgage loans, will have to consist of two main things:

  • Down payment (the amount of money you need to pay upfront)
  • Monthly payments (How much money can you afford to spend each month?)

The first one is pretty straightforward and will depend on the property price you’re interested in. ITIN mortgage lenders usually require a down payment of 20-25%. This means that for a property worth $200,000, you’ll need at least $40,000 to cover the down payment costs. The second part is where things get a bit more complicated because owning a house comes with its own associated costs. And you’ll have to think about that on top of paying off the ITIN mortgage loan. The main costs that you should expect to pay each month include:

  • Principal and interest rates for ITIN mortgage
  • Various real estate taxes (different for each state)
  • Homeowners Association (HOA) fees 
  • Home Insurance

The above list does not include repairs and maintenance costs that every homeowner pays, one way or the other. So, before you start applying for ITIN mortgage loans and sending in your application to different ITIN mortgage lenders, ensure you have enough room in your budget to cover both the down payment requirements and the monthly loan costs and costs associated with owning a home. 

2. Prepare the Documentation

Another critical thing to consider when applying for ITIN mortgage loans is all the documentation requirements. To make the process go as smoothly as possible, prepare all the documents before you even start the application process. Why? Because this will show ITIN mortgage lenders that you are a serious and responsible person. Just your attitude towards this will help lower the risk in the lender’s eyes and will allow you to get closer to your goal — getting your ITIN mortgage loan application approved

The best way to do this is to contact a specific lender and ask them about what sort of documents they would need from you to approve your application. Once you have that information, the next thing you should do is get all those documents. In most cases, ITIN mortgage lenders will require the following documentation:

  • Valid ITIN 
  • Copy of your passport;
  • Valid US Visa (It doesn’t always have to be a work Visa. In fact, there are a lot of cases where people without a Visa got approved for an ITIN loan.)
  • At least two years of employment history in the US
  • At least two years of verifiable residential history in the US (Meaning that you need to live in the US for at least two years before applying for an ITIN mortgage loan) 

3. Look For Pre-approval

Getting pre-approval for an ITIN mortgage loan before you start house hunting will make the process of purchasing a home much quicker once you find the property that best suits you. Getting pre-approved will immediately turn you into a serious buyer in the eyes of the seller and will allow you to make a bid for the property immediately after you’ve found it instead of waiting on the ITIN mortgage lender to approve your loan application (which could, even if everything is in order, take a couple of weeks). Or, to make things even simpler, getting pre-approved for an ITIN mortgage loan will give you more negotiating power when dealing with the house seller.

ITIN Mortgage Loans: Main Requirements 

The exact requirements for ITIN mortgage loans will depend on the specific lender you choose to go with. ITIN mortgage lenders have the right to set specific loan requirements. But, for the most part, to get a home loan with ITIN number, you’ll need to have the following:

  • Valid ITIN card — A mandatory requirement for ITIN mortgage loans.
  • Additional identification documents — Some ITIN mortgage lenders may require additional documents (besides the ITIN card) to prove your identity. They can require documents such as a driver’s license, passport, or similar.
  • Minimum credit score of 600 — Most ITIN mortgage lenders will require a US credit score of at least 600 to approve your application. However, some lenders will work with you if your credit score is lower than 600 or even if you don’t have a credit score or credit history in the US.
  • Proof of employment — ITIN mortgage lenders will require you to show proof of your employment and employment history for the previous two years. 
  • Tax returns — ITIN mortgage loans require you to have at least two years of tax returns.
  • Various financial documents — The exact type of documentation you’ll need will depend on the specific ITIN mortgage lender. But, for the most part, you will need documents showing your ability to make monthly payments to repay the ITIN mortgage loan. Some financial documents you might need for ITIN mortgage loans include bank statements, proof of assets or savings, income verification documents, etc.
  • Down payment — ITIN mortgage loans, more often than not, have a higher down payment requirement than conventional mortgage loans. When applying for one, most ITIN mortgage lenders will require you to have a 20-25% down payment. 
  • Interest rate — As of 2023, ITIN mortgage loan interest rates are between 6,5-7,5%. However, it’s important to note that interest rates can vary between each individual case and ITIN mortgage lender. They will usually depend on several factors, including credit score, the amount of loan, down payment percentage, and more.

Main Benefits of Having an ITIN

The main reason for getting an ITIN is that it allows foreigners to file tax forms in the US. However, having an ITIN can be beneficial for many other reasons, including:

  • ITIN allows foreigners and resident aliens to legally open a personal bank account in the US that can be used to deposit or take out cash, pay bills, pay taxes, and more.
  • With ITIN, you can open a US PayPal account, which has lower fees and makes doing business in the US much more accessible. It’s a good option for foreigners who want to invest in US real estate or do some other type of business in the States.
  • ITIN can help foreigners build their US credit score and history. With a good US credit score, it’s possible to get more favorable terms on mortgage loans for nonresidents.
  • ITIN can help residents without US citizenship to get residency papers and become legal US residents.
  • ITIN can help nonresidents and resident aliens obtain a valid US driver’s license, which can serve as an official identification document in certain US states (California, New York, Colorado, etc.)
  • Foreigners and resident aliens can get a home loan with ITIN number and can get access to homeownership, helping them establish roots in the US.


Is SSN the same as ITIN?

No, the Social Security Number (SSN) is not the same as ITIN. According to the IRS, ITIN is reserved for people who don’t fulfill all the requirements needed to get an SSN.

Can I get an SSN if I have ITIN?

Yes, if you have an ITIN, you can get an SSN. However, it’s important to note that having an ITIN won’t necessarily help you get an SSN. But, it can help you build your credit score in the US, purchase a home, and regularly pay taxes, which can help you get an SSN. 

Can you get a home loan with ITIN?

Yes, you can. There is a specific type of mortgage loan that you can get with ITIN, called ITIN mortgage loans. These loans are a type of financial service available in the US and are provided by ITIN mortgage lenders. The main purpose of ITIN mortgage loans is to help ITIN cardholders purchase homes in the US. If you want to learn how to open ITIN number for nonresident, read our guide or reach out for help.

Want to Get an ITIN Mortgage Loan Or Need Help Getting an ITIN?
NRI is a one-stop solution for foreigners who want to buy US property and get nonresident mortgage loans. We provide various services throughout the entire purchasing process and can help you apply for and get an ITIN mortgage loan. We’ll connect you with various ITIN mortgage loan lenders, get you multiple offers, and help you sort through those offers until we find you the best one. We’ll also ensure that all accompanying and tax-related documents are done according to US law.   Book a free call and start your application for ITIN mortgage loans now!


Founder & CEO
Luka Malkovich is a serial entrepreneur with years of experience in international real estate investing. As the CEO of Nonresident Investor, Luka’s mission is to educate foreign nationals about the US real estate market and help them secure funding and buy property in America. That’s why he’s using his expertise to turn the NRI blog into a knowledge hub for anyone interested in learning about US real estate. This article was written by a professional content writer in conjunction with Luka Malkovich. Luka has thoroughly reviewed this article and has given his final approval before publishing.

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