Question 1

Can I use an ITIN loan if my spouse has a Social Security number?

Accepted Answer

Yes. We structure the loan under your ITIN and include their income for qualification. This often gets better terms than solo ITIN applications.

Question 2

What if I only filed one year of tax returns?

Accepted Answer

Most lenders require two years filed. Some accept one year if you have 25% down and strong reserves. Expect higher rates and stricter review.

Question 3

Do ITIN loans work for investment properties in Covina?

Accepted Answer

Limited lenders offer ITIN investor loans. You'll need 25-30% down and strong rental income documentation. Primary residence loans are far more common.

Question 4

How long does ITIN loan approval take?

Accepted Answer

Plan for 45-60 days from application to closing. Manual underwriting and tax transcript verification add time compared to conventional loans.

Question 5

Can I refinance later to a conventional loan?

Accepted Answer

Yes, if you obtain a Social Security number and meet conventional guidelines. Many ITIN borrowers refinance within 2-3 years after gaining work authorization.

ITIN Loans in Covina: Homeownership Without a Social Security Number