Question 1

Can I buy a home in Norwalk with only an ITIN?

Accepted Answer

Yes. ITIN loans specifically serve borrowers who lack Social Security numbers but file taxes regularly. You'll need two years of tax returns and sufficient down payment to qualify.

Question 2

How much down payment do ITIN loans require in Norwalk?

Accepted Answer

Most programs require 15-25% down payment. Larger down payments often unlock better interest rates and more favorable terms from lenders.

Question 3

Do ITIN borrowers pay higher interest rates?

Accepted Answer

Rates vary by borrower profile and market conditions but typically run higher than conventional loans. The difference reflects specialized underwriting and program costs.

Question 4

Can I refinance my ITIN loan later?

Accepted Answer

Yes. After building payment history and home equity, you can refinance to potentially better terms or switch to different loan programs as your situation evolves.

Question 5

What income documents do ITIN lenders accept?

Accepted Answer

Tax returns are primary, but lenders also review W-2s, 1099s, or bank statements. Self-employed borrowers may qualify using business bank deposits instead of tax returns.

ITIN Home Loans in Norwalk: Homeownership Without a Social Security Number