Loading
ITIN Loans in San Dimas
San Dimas has a significant immigrant population building equity through real estate. ITIN loans let you qualify with tax records instead of a Social Security number.
Most ITIN borrowers here buy single-family homes in the $600K-$900K range. These are non-QM loans, so expect different underwriting than conventional mortgages.
San Dimas sits in the eastern San Gabriel Valley with strong school districts. That attracts ITIN buyers looking for stable family neighborhoods, not just investment properties.
You need a valid ITIN, 2 years of tax returns, and typically 15-20% down payment. Credit scores start at 620, but 660+ gets better rates.
Lenders verify income through tax returns filed with your ITIN. Self-employed borrowers often use this program since they already file taxes this way.
Expect higher rates than conventional loans—usually 1-2% above conforming rates. The trade-off is you can buy without immigration status requirements.
Only specialized non-QM lenders offer ITIN loans. Your local bank won't touch these—they sell to Fannie Mae, which requires Social Security numbers.
We work with a dozen lenders who actively fund ITIN mortgages. Each has different overlays on credit, reserves, and property types.
Some lenders cap at $1M. Others go higher but want 6-12 months reserves and larger down payments. This is where broker access matters.
The biggest mistake I see is borrowers assuming they need a huge down payment. 15% works with strong credit and tax history.
Your tax returns need to show consistent income. One-year spikes don't help—lenders average the two years and use the lower figure.
San Dimas buyers often combine ITIN loans with family help for down payments. Gift funds work fine, but you'll need a gift letter and proof of transfer.
Bank Statement Loans don't require tax returns, but they cost more. If you file taxes with your ITIN, use those—rates will be lower.
Foreign National Loans work for non-residents, but require 25-30% down. ITIN loans beat that if you live and work in the U.S.
Some borrowers qualify for both ITIN and conventional loans if they have work authorization. Always check conventional first—rates are cheaper.
San Dimas home prices mean you're usually borrowing $500K-$800K. That down payment represents real money—plan for $90K-$160K at closing.
The city has pockets of older homes and newer developments. Lenders treat them the same, but appraisals matter more on fixer properties.
Most San Dimas ITIN buyers work in construction, landscaping, or restaurant businesses across LA County. Stable work history in these fields underwrites well.
Not from our lenders. You need a 620 minimum credit score, built through credit cards, auto loans, or other tradelines reporting to credit bureaus.
No. These loans don't check immigration status—only your ability to repay based on tax returns and credit history.
30-45 days typically. Longer if your tax returns are complex or you're self-employed with multiple income sources.
Yes. Most borrowers refinance to conventional loans once they get Social Security numbers through immigration status changes.
Lenders average both years. If one shows a loss, the average might still qualify, but expect conservative income calculations.
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.