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Lafayette's stable housing market attracts ITIN borrowers building equity in Contra Costa County. Most local lenders don't advertise ITIN programs, but specialty lenders fund these deals regularly.
You need documented income and decent credit, just like traditional loans. The difference is you use an ITIN instead of a Social Security number for qualification.
ITIN Loans in Lafayette
Most ITIN lenders require 15-20% down payment minimum. Credit scores typically need to hit 620 or higher, though some programs accept 600.
You'll provide two years of tax returns filed with your ITIN. Pay stubs, W-2s, or 1099s verify current income. Employment history matters more than citizenship status.
Debt-to-income ratio caps around 43-50% depending on the lender. Larger down payments and reserves can offset weaker credit or higher debt ratios.
Local decision guide
Use this guide to connect itin loans eligibility, lender expectations, and local market factors before comparing payment options in Lafayette.
Lafayette's stable housing market attracts ITIN borrowers building equity in Contra Costa County. Most local lenders don't advertise ITIN programs, but specialty lenders fund these deals regularly.
You need documented income and decent credit, just like traditional loans. The difference is you use an ITIN instead of a Social Security number for qualification.
Most ITIN lenders require 15-20% down payment minimum. Credit scores typically need to hit 620 or higher, though some programs accept 600.
Big banks won't touch ITIN loans. You're shopping among portfolio lenders and non-QM specialists who keep these loans on their books.
Rates run 0.5-1.5% above conventional mortgage rates. That spread reflects the lender's risk, not your creditworthiness.
We access 15+ lenders offering ITIN programs with different overlays. One might require 20% down but accept 600 credit. Another wants 680 credit but only 15% down.
Lafayette ITIN buyers usually work in tech, healthcare, or local businesses. Many have strong income but lack immigration status required for conventional loans.
The deals that close fastest have clean tax returns and six months reserves. Lenders get nervous when your tax returns show minimal income but bank statements look healthy.
Expect 45-60 day closings. ITIN loans need extra documentation review and manual underwriting. Rush closings rarely work with these programs.
Foreign National Loans work if you live overseas and want California investment property. ITIN loans serve U.S. residents without Social Security numbers.
Bank Statement Loans verify income through deposits instead of tax returns. That works if you're self-employed showing lower taxable income than actual earnings.
Asset Depletion Loans qualify you based on liquid assets rather than employment. Better fit if you have substantial savings but irregular income documentation.
Lafayette's median prices exceed $1.5 million in most neighborhoods. You need strong income documentation to qualify for loan amounts here.
Smaller homes and condos near downtown occasionally list under $900K. These entry points work better for first-time ITIN borrowers building initial equity.
Property taxes in Contra Costa County run around 1.1% annually. Factor that into your debt ratio calculations alongside the mortgage payment.
Yes, ITIN loans specifically serve borrowers using Individual Taxpayer Identification Numbers. You need documented income and credit history, but citizenship isn't required.
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.
Most ITIN programs require 15-20% down minimum. Larger down payments can offset lower credit scores or higher debt ratios.
Yes, lenders require two years of tax returns filed with your ITIN. Consistent tax filing history strengthens your application significantly.
Some lenders allow investment properties, but most ITIN programs focus on primary residence purchases. Investment properties typically require 25-30% down.