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Reedley's agricultural economy creates steady demand for ITIN mortgages. Farm workers and small business owners here often earn strong income but lack traditional documentation.
Most conventional lenders walk away from ITIN borrowers. That's a mistake — we work with lenders who underwrite to tax returns and verified income, not SSN status.
The Central Valley housing market rewards borrowers who can move quickly. ITIN loans close in 30-45 days when you work with the right lender network.
You need 15-20% down minimum. ITIN lenders require larger down payments than conventional loans because they can't sell these mortgages to Fannie Mae.
Credit scores start at 620, but 680+ gets better rates. Two years of ITIN tax returns prove income stability — lenders want to see consistent filing history.
Property must be owner-occupied or second home. Investment properties need 25-30% down and higher rates. Some lenders cap loan amounts at $1.5 million in Fresno County.
Only about 15 lenders in our network of 200+ handle ITIN mortgages. These are portfolio lenders who keep loans on their books instead of selling them.
Rates run 0.5-1.5% higher than conventional mortgages. That premium reflects the lender's risk and the fact these loans can't be securitized.
Some lenders require full mortgage insurance even with 20% down. Others waive it at 25% equity. Shopping across lenders on this detail alone can save $150-300 monthly.
Reedley borrowers often have cash savings but irregular W-2 income. Bank statement loans sometimes work better than ITIN loans if you have 12-24 months of consistent deposits.
Get your tax returns translated by a certified translator if filed in Spanish. Lenders need English versions, and waiting for translation at underwriting kills deals.
Many ITIN borrowers fear deportation risk with mortgage applications. Your immigration status is not reported to federal agencies through the mortgage process — lenders verify income, not visa status.
Foreign National Loans work if you live outside the US but want Reedley investment property. They require 30-40% down but don't need US tax returns.
Bank Statement Loans verify income through deposits, not tax returns. Self-employed borrowers with lower reported income often get better terms this way.
Asset Depletion Loans calculate income from your investment accounts. If you have $500k liquid assets but minimal tax return income, this route works better than ITIN.
Reedley's median home prices run significantly below Fresno metro averages. ITIN borrowers here typically need $30k-50k down payment for starter homes.
Agricultural income fluctuates seasonally. Lenders average your two-year tax returns to smooth out harvest-driven spikes. Show consistent gross income across both years for cleanest approval.
Fresno County appraisals sometimes come in low on rural properties. ITIN deals rarely survive appraisal gaps because you're already at max down payment — negotiate inspection-based price reductions before appraisal.
No. Every ITIN lender requires two years of tax returns filed with your ITIN. They need to see consistent income history before approving the loan.
Depends on the lender and down payment. Some require MI until 25% equity, others waive it at 20% down. This is negotiable when shopping lenders.
Rates vary by borrower profile and market conditions. Expect 0.5-1.5% above conventional rates — typically 7.5-9% in current market conditions.
No. Lenders verify income and creditworthiness only. Your immigration status is not reported to USCIS, ICE, or any federal immigration agency.
Yes, but expect 25-30% down and higher rates. Most ITIN lenders price investment properties 1-2% above owner-occupied rates.
ITIN Loans in Reedley