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ITIN Loans in Long Beach
Long Beach has a large immigrant population that built businesses and raised families here without traditional documentation. ITIN loans exist because you pay taxes, have income, and deserve access to homeownership.
Most conventional lenders won't touch ITIN borrowers. That's where wholesale non-QM lenders fill the gap—they underwrite differently and focus on payment history over SSN status.
You need a valid ITIN, proof of income through tax returns or bank statements, and typically 15-20% down payment. Credit history matters—alternative credit like rent and utility payments can substitute for traditional scores.
Most lenders want 620+ credit scores, but some programs accept 580 if compensating factors exist. Two years of tax filing history helps, though some lenders approve with one year plus strong reserves.
About 20-30 of our 200+ wholesale lenders offer ITIN programs, and their requirements vary significantly. Some want W-2 income only, others accept 1099 or business revenue through bank statements.
Rate premiums run 0.5-1.5% above conventional loans because of portfolio risk. We shop across lenders to find the tightest pricing for your specific income documentation and down payment.
ITIN borrowers often have cleaner financials than W-2 earners—they know every tax filing gets scrutinized. The challenge is matching your documentation type to the right lender's program, not proving you can pay.
Long Beach properties in the $500K-$700K range work well for ITIN loans. Higher prices strain debt ratios with the rate premium, and sub-$400K deals often get better terms through community lending programs.
Foreign National loans don't require U.S. tax history but need 30-40% down. ITIN loans reward your years of filing by accepting 15-20% down and better rates.
Bank Statement loans work if you're self-employed with an ITIN—12-24 months of deposits replace tax returns. Asset Depletion loans let retirees with significant savings qualify on assets instead of income.
Long Beach neighborhoods like Central, West Side, and North Long Beach have active ITIN buyer markets. Appraisers familiar with these areas help—some underwriters flag properties they don't understand as higher risk.
Los Angeles County transfer taxes and fees add to closing costs. Budget 2.5-3% of purchase price for closing, slightly higher than conventional loans due to lender fees on non-QM products.
Yes, through alternative credit—12 months of rent, utilities, phone, and insurance payments establish payment history. You'll need documentation like cancelled checks or bank statements.
Most programs want 1-2 years of tax returns filed with your ITIN. Bank statement programs exist if you're self-employed and prefer not to use tax returns for qualifying income.
Expect 0.5-1.5% above conventional rates. Your down payment, credit score, and income documentation type affect pricing—rates vary by borrower profile and market conditions.
Yes, both rate-term and cash-out refinances work. You need 20% equity minimum for cash-out, 15% for rate-term, plus the same income documentation as purchase loans.
Non-QM underwriting runs 3-5 weeks versus 2-3 weeks for conventional. Allow extra time for alternative credit verification and manual income calculation from tax returns or bank statements.
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.