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ITIN Loans in Arcadia
Arcadia's housing market attracts international buyers and foreign-born residents who haven't obtained Social Security numbers. ITIN loans let you buy using your Individual Taxpayer Identification Number.
Many Arcadia neighborhoods have established immigrant communities who've built equity through ITIN financing. These loans work for primary residences and investment properties in the city.
You need a valid ITIN from the IRS and ability to prove income. Most lenders want 15-20% down minimum, though 20-25% down gets better rates.
Income documentation typically means two years of tax returns or 12-24 months of bank statements. Credit history matters—you can use international credit reports if you lack U.S. credit.
ITIN loans come from specialized non-QM lenders, not Chase or Wells Fargo. Rates run 1-2% higher than conventional loans due to portfolio lending risk.
Each lender sets their own guidelines. Some accept ITIN applicants with one year in the U.S., others want longer history. We shop across lenders who actually close these deals in Los Angeles County.
Most Arcadia ITIN borrowers we work with are self-employed or receive income from overseas sources. Bank statement programs work better than tax return programs if you write off significant business expenses.
The biggest mistake is waiting until you find a house to start the process. ITIN loan underwriting takes 45-60 days minimum. Get pre-approved early with actual documentation reviewed.
Foreign National loans need larger down payments but accept income earned outside the U.S. ITIN loans work better if you're earning U.S. income and paying U.S. taxes.
Bank Statement loans and ITIN loans overlap—many ITIN borrowers use bank statement documentation. Asset Depletion makes sense if you have significant liquid assets but limited reportable income.
Arcadia's median home price requires jumbo ITIN financing for most purchases. Not all ITIN lenders go above conforming limits—finding a lender who does jumbo ITIN loans narrows your options significantly.
Los Angeles County recording fees and California's high property taxes affect how much you need at closing. Budget an extra 2-3% beyond your down payment for closing costs on ITIN transactions.
Yes. ITIN loans don't require a Social Security number or U.S. citizenship. You need valid ITIN documentation and ability to prove income through tax returns or bank statements.
Most lenders want 15-25% down for ITIN loans. Larger down payments get better rates, and some lenders require 20% minimum for Los Angeles County properties.
ITIN loans typically run 1-2% higher than conventional rates. These are non-QM loans with higher lender risk, which gets priced into the interest rate.
Expect 45-60 days minimum from application to closing. ITIN loans require more documentation review than conventional loans, and underwriting takes longer.
U.S. credit helps but isn't always required. Many ITIN lenders accept international credit reports or alternative credit documentation like rent payment history.
Yes. ITIN loans work for primary residences and investment properties. Expect higher rates and larger down payments for non-owner-occupied purchases.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.