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ITIN Loans in Azusa
Azusa's housing market serves a significant population of borrowers who file taxes with an ITIN. These loans exist because traditional lenders can't process applications without a Social Security number.
ITIN loans aren't government-backed. You're working with private lenders who price risk differently than Fannie Mae or FHA. Expect rates 1-2 points higher than conventional programs.
You need a valid ITIN, two years of tax returns filed with that ITIN, and typically 15-20% down. Credit scores above 680 get better terms, but some lenders go as low as 620.
Bank statement programs stack well with ITIN loans. If you're self-employed without W-2s, we verify income through 12-24 months of deposits instead of tax returns.
About 15 of our 200+ wholesale lenders offer ITIN programs. Not every broker has access to this network. Many retail banks won't touch these deals at all.
Rate shopping matters more here than with conventional loans. We've seen 1.5% rate differences between lenders on identical borrower profiles. The wholesale channel gives us pricing most borrowers can't access directly.
ITIN borrowers often get steered toward predatory hard money when a legitimate mortgage exists. These aren't bridge loans with 9% rates. You're getting a 30-year fixed mortgage with market-based pricing.
Documentation kills more ITIN deals than credit. Lenders want clean tax transcripts from the IRS, not just your filed returns. We request transcripts before submitting to avoid delays.
Foreign National loans require larger down payments—usually 30-40%—but accept passport-based documentation. If you lack U.S. tax history, that's your path. ITIN loans need established U.S. filing records.
Bank Statement loans overlap with ITIN when you're self-employed. Some lenders combine both into one approval. Asset Depletion works if you have significant savings but irregular income documentation.
Azusa's proximity to both downtown LA job centers and the San Gabriel Valley creates demand from ITIN borrowers working in construction, hospitality, and small business sectors. These are the exact employment profiles ITIN loans were designed for.
Los Angeles County appraisals can slow closings by 2-3 weeks compared to outlying counties. Plan 45-60 days from application to closing, not the 30-day timeline conventional loans sometimes hit.
A few lenders go to 10% down with 700+ credit and compensating factors like big reserves. Most programs floor at 15% regardless of profile strength.
No, ITIN requirements are lender-specific, not geography-based. You need the same IRS transcripts and bank statements whether you're buying in Azusa or anywhere else.
Bank statement programs work better here. We verify income through deposits, not what you reported to the IRS for tax purposes.
Rates vary by borrower profile and market conditions. Expect 1-2 percentage points above conventional rates, sometimes more with lower credit or higher loan-to-value ratios.
Yes, rate-and-term refinances work the same as purchases. Cash-out refinances have tighter restrictions and may require 25% equity remaining after closing.
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.