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ITIN Loans in Temple City
Temple City's tight housing market doesn't stop for documentation status. ITIN loans open the door for borrowers who file taxes with an Individual Taxpayer Identification Number but lack a Social Security number.
Most ITIN borrowers we work with in Temple City are self-employed or work in family businesses. The loan structure accounts for that reality with flexible income documentation requirements.
You need a valid ITIN, typically 15-20% down, and credit scores starting around 620. We verify income through tax returns, bank statements, or a combination of both depending on how you earn.
Lenders want to see two years of US tax filing history with your ITIN. If you've been filing consistently and can document steady income, you clear the biggest hurdle most ITIN borrowers face.
ITIN loans sit in the non-QM space, which means fewer lenders and more variation in terms. We work with about 15 lenders who actively fund ITIN mortgages in California, and their pricing can swing 1-2% based on your profile.
The lenders who do this well understand immigrant borrowers. They don't panic over foreign credit history or unconventional income sources. Finding the right match matters more here than with conventional loans.
Most ITIN borrowers overpay because they use the first lender who says yes. We see this constantly. One lender quotes 8.5%, another offers 6.75% for the identical borrower profile.
The strongest ITIN applications show stable housing history and consistent income over time. If you've rented the same place for years and your tax returns show steady earnings, approval odds jump significantly.
Foreign National Loans work if you live abroad but want US property. ITIN loans fit US residents without Social Security numbers. Bank Statement Loans skip tax returns entirely if that documentation creates problems.
ITIN loans typically cost less than Foreign National products but more than conventional mortgages. You're paying a premium for flexibility, usually 1-2% above conventional rates.
Temple City has strong immigrant communities where ITIN lending makes sense. Properties here attract multi-generational buyers who pool income from family members, which ITIN programs can accommodate.
Los Angeles County recording fees and transfer taxes apply the same regardless of borrower documentation. Budget for standard California closing costs plus slightly higher lender fees given the non-QM structure.
Yes, with 15-20% down and verifiable income through tax returns or bank statements. We need two years of ITIN tax filing history and credit scores around 620 minimum.
ITIN rates typically run 1-2% higher than conventional mortgages. Rates vary by borrower profile and market conditions, but expect 6-9% depending on credit and down payment.
Most accept federal tax returns filed with your ITIN. Some lenders also consider bank statements if you're self-employed with limited tax write-offs.
You need some US credit scoring above 620. Lenders can sometimes use alternative credit like rental and utility payment history if traditional credit is thin.
Plan for 30-45 days from application to closing. Income documentation review takes longer than conventional loans since underwriters verify ITIN tax filings manually.
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.