Question 1

Can I qualify with just an ITIN and no Social Security number?

Accepted Answer

Yes, ITIN loans specifically serve borrowers using Individual Taxpayer Identification Numbers. You need documented income and credit history, but citizenship isn't required.

Question 2

What interest rate should I expect on an ITIN loan in Lafayette?

Accepted Answer

Rates typically run 0.5-1.5% above conventional loans. Your exact rate depends on credit score, down payment, and which lender's program you qualify for.

Question 3

How much do I need for a down payment?

Accepted Answer

Most ITIN programs require 15-20% down minimum. Larger down payments can offset lower credit scores or higher debt ratios.

Question 4

Do I need to file taxes to qualify for an ITIN loan?

Accepted Answer

Yes, lenders require two years of tax returns filed with your ITIN. Consistent tax filing history strengthens your application significantly.

Question 5

Can I buy investment property with an ITIN loan?

Accepted Answer

Some lenders allow investment properties, but most ITIN programs focus on primary residence purchases. Investment properties typically require 25-30% down.

ITIN Loans in Lafayette: Homeownership Without a Social Security Number