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ITIN Loans in La Canada Flintridge
La Cañada Flintridge draws foreign nationals and ITIN holders who want stable neighborhoods and top-tier schools. These buyers often bring significant assets but lack traditional credit histories.
ITIN loans work here because many buyers have verifiable income through tax returns or business documentation. The foothill location and school district make properties worth the extra underwriting effort.
You need a valid ITIN, filed tax returns for the past two years, and typically 15-25% down. Credit history comes from alternative sources like rent payments and utility bills.
Most lenders require 620+ credit scores built from non-traditional tradelines. Expect higher rates than conventional loans — usually 1-2% above prime — because fewer lenders compete in this space.
About 30 of our 200+ lenders offer ITIN programs. These are non-QM lenders who price for individual risk rather than agency guidelines.
Rate spreads between lenders can hit 1.5% on identical borrower profiles. Shopping matters more here than anywhere else because each lender weights income documentation differently.
ITIN borrowers in La Cañada Flintridge often have complex income — business ownership, foreign income, or asset liquidation. One lender might require full documentation while another accepts 12 months of bank statements.
The biggest mistake is applying direct to a single lender. You need a broker who knows which lenders accept which income types and can structure your application to highlight strengths.
Foreign National Loans work if you live abroad and want US property. ITIN loans fit better when you live and work in California but lack a Social Security number.
Bank Statement Loans overlap with ITIN programs but focus on self-employed income verification. Asset Depletion Loans let you qualify based on investment accounts rather than earned income.
La Cañada Flintridge properties often exceed $1.5 million. ITIN loans cap around $2-3 million depending on down payment and lender appetite for jumbo non-QM.
Appraisals matter more in non-QM. If the property needs work or has unusual features, some lenders walk away. Choose homes with broad appeal to avoid underwriting friction.
Yes. Bank statement programs let you qualify on deposits rather than tax returns. Most lenders average 12-24 months of personal or business account activity.
Minimum 15% for properties under $1M. Expect 20-25% above that threshold. Higher down payments unlock better rates and more lender options.
Pre-approval runs 3-5 business days once we submit to the right lender. Full underwriting and closing takes 45-60 days depending on documentation complexity.
Some do. Penalties typically last 1-3 years and range from 1-5% of the loan balance. We prioritize lenders with no penalties or shorter terms.
Yes. Many borrowers refinance into conventional loans after obtaining permanent residency. You can also refinance into another ITIN loan for better rates.
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.