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ITIN Loans in Beverly Hills
Beverly Hills attracts international buyers and entrepreneurs who don't have Social Security numbers. ITIN loans fill that gap.
Most traditional lenders reject ITIN borrowers outright. This creates opportunity for prepared buyers with strong financials.
With median home prices in Beverly Hills often exceeding $3 million, ITIN borrowers need jumbo-level documentation. Think 12-24 months of bank statements and larger down payments.
The loan works for self-employed professionals, foreign nationals establishing US residency, and business owners operating on ITINs.
You need an active ITIN and 12-24 months of personal or business bank statements showing consistent deposits. Lenders calculate income from average monthly inflows.
Credit scores above 680 get the best pricing. Below 640, expect higher rates and 25% down.
Most lenders want two years in the same line of work. Job-hopping raises flags even with strong deposits.
Down payments start at 15% for primary residences. Investment properties and luxury homes often require 20-30% down.
Only non-QM lenders offer ITIN loans. Your local bank won't help. This requires specialty lenders who price risk differently.
Beverly Hills deals often involve jumbo amounts. Not every ITIN lender goes above $1 million. Finding one that does and offers competitive rates takes shopping.
Each lender has different income calculation methods. One might average 12 months of deposits. Another uses 24 months and applies haircuts for business expenses.
Brokers access 10-15 ITIN lenders instead of one. That spread can mean 0.5-0.75% better rates on a $2 million loan.
ITIN borrowers in Beverly Hills often have complex income streams. Restaurant owners, real estate investors, consultants. The lender that works for one won't work for another.
I see clients get declined for messy bank statements. Large irregular deposits without clear sourcing kill deals. Clean up your statements three months before applying.
Foreign nationals often confuse ITIN loans with Foreign National loans. Different programs. ITIN requires US credit history. Foreign National doesn't but has stricter terms.
The biggest mistake is waiting until you find a house. Get pre-approved first. ITIN underwriting takes longer than conventional loans.
Foreign National loans require larger down payments (30-40%) but skip US credit requirements. ITIN loans need established US credit but accept lower down payments.
Bank Statement loans work for US citizens with ITINs who have irregular income. Similar documentation but sometimes better rates.
Asset Depletion loans let you qualify using investment accounts instead of income. Works for ITIN holders with substantial liquid assets.
If you're buying investment property, some portfolio lenders offer better terms than standard ITIN programs.
Beverly Hills deals involve high-value properties. That means jumbo ITIN loans. Not every lender handles amounts above $2 million on ITIN credit.
International buyers love Beverly Hills. The ITIN loan works best when you have US business operations and established banking history here.
HOA buildings in Beverly Hills sometimes have stricter lending requirements. Confirm your lender is approved for your specific building before going under contract.
Property taxes run higher here. Lenders factor that into debt-to-income ratios. A $3 million home carries $30,000+ annual property taxes.
Yes, if you have 12-24 months of bank statements, US credit history, and 15-25% down payment. No Social Security number needed.
680+ gets competitive rates. Below 640, expect higher rates and larger down payments. Some lenders go as low as 600 with 25% down.
15% minimum for primary residences under $2 million. Expect 20-30% down for higher-priced homes or investment properties.
Yes, typically 1-2% higher. Non-QM loans carry premium pricing. Rate varies by credit, down payment, and property type.
Plan for 45-60 days from application to closing. Documentation review takes longer than conventional loans. Start early.
Yes, if you own the business. Lenders apply expense ratios to gross deposits. Personal statements usually get better treatment.
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.