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ITIN Loans in Commerce
Commerce's industrial workforce includes thousands of ITIN holders working in warehouses, logistics, and manufacturing. Most buy in adjacent residential areas where prices stay below LA's median.
Traditional lenders reject ITIN borrowers outright. But specialized non-QM lenders underwrite these deals daily—just with different documentation standards.
You need a valid ITIN, 24 months of filed tax returns, and credit history built through utilities or ITIN-reported tradelines. Most lenders want 640+ credit scores.
Income proof comes from tax returns or bank statements. Self-employed borrowers often qualify faster than W-2 earners since documentation requirements overlap.
Fewer than 30 wholesale lenders nationwide write ITIN loans. They fund deals local banks won't touch, but they price for the added compliance work.
Expect rates 6.5-8.5% depending on down payment and credit. Each lender has different ITIN documentation requirements—some accept matricula consular, others don't.
ITIN deals close when documentation tells a consistent story. Tax returns should match bank deposits within 10-15%. Gaps bigger than that trigger underwriter questions.
I see cleanest approvals from borrowers with three years of ITIN tax filings and established bank accounts. First-time filers face tougher scrutiny and higher rates.
Foreign National Loans don't require US tax history but demand 30-40% down. ITIN loans accept 15-20% down if you've filed taxes and built US credit.
Bank Statement Loans work for self-employed ITIN holders who can't document income through tax returns. You'll use 12-24 months of deposits instead.
Commerce itself is 95% commercial zoning. ITIN buyers here target Montebello, Pico Rivera, and East LA where $500-700K buys single-family homes near work.
Property appraisals move fast in these areas since comps are plentiful. But some zip codes see higher property tax assessments—factor that into your debt ratios.
Most lenders require 24 months of filed returns. A few accept 12 months with larger down payments—usually 25% minimum—but rates jump significantly.
Bank statement programs work better for this scenario. Lenders calculate income from deposits rather than tax return figures, often showing higher qualifying income.
Yes, but the donor needs paper trail documentation. Expect to provide gift letters and proof the funds came from acceptable sources like family members.
Plan for 45-60 days from application to closing. ITIN documentation review takes longer than conventional loans, and fewer underwriters handle these files.
Absolutely. Once you've built 12 months of payment history, you can refinance with the same lender or shop other ITIN programs for better terms.
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.