Question 1

Can I use an ITIN loan for a fixer-upper in Crescent City?

Accepted Answer

Most ITIN lenders require move-in condition properties. Major repairs need completion before closing. Renovation loans exist but add complexity and higher rates.

Question 2

Do ITIN loans require mortgage insurance in Del Norte County?

Accepted Answer

Only if you put down less than 20%. PMI rates run slightly higher than conventional loans. Expect 0.5-1.2% of the loan amount annually.

Question 3

How does fishing industry income affect ITIN loan approval?

Accepted Answer

Lenders average your last two years of tax returns. Seasonal swings are fine if the overall trend is stable or increasing. Document your work history clearly.

Question 4

Can I refinance an existing mortgage with an ITIN loan?

Accepted Answer

Yes. Same qualification rules apply as purchase loans. Rate-and-term refinances work best. Cash-out options exist but require stronger profiles.

Question 5

What down payment works best for ITIN loans in Crescent City?

Accepted Answer

20% down gets you the best rates and no PMI. If you have 15%, expect slightly higher pricing. Below 15% limits your lender options significantly.

ITIN Loans in Crescent City: Homeownership Without a Social Security Number