Question 1

Can I get an ITIN loan with less than 20% down in Alameda?

Accepted Answer

Yes, several lenders approve 15% down for strong credit and income profiles. Lower down payments mean higher rates and stricter income documentation requirements.

Question 2

Do ITIN loans work for investment properties in Alameda?

Accepted Answer

Most ITIN lenders require owner occupancy for 12 months minimum. Pure investment purchases typically need 25-30% down with significantly higher rates.

Question 3

How long does ITIN loan approval take compared to conventional?

Accepted Answer

Expect 45-60 days versus 30-45 for conventional loans. Tax transcript verification and non-QM underwriting add 2-3 weeks to standard timelines.

Question 4

What if my ITIN tax returns show low income but I earn more?

Accepted Answer

Bank Statement Loans let you use 12-24 months of deposits instead of tax returns. You'll pay higher rates but qualify based on actual cash flow.

Question 5

Can I refinance an existing Alameda property with an ITIN loan?

Accepted Answer

Yes, cash-out and rate-term refinances both work with ITIN. Lenders treat refinances the same as purchases for qualification purposes.

ITIN Loans in Alameda — Homeownership Without a Social Security Number