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ITIN Loans in Torrance
Torrance has a substantial immigrant community where ITIN loans fill a critical gap. Many residents here earn strong income but lack Social Security numbers.
South Bay real estate moves fast. ITIN borrowers compete with conventional buyers, so pre-approval with a serious lender matters.
We've closed ITIN loans across Torrance—from older homes in North Torrance to newer builds in the Hollywood Riviera. This program works citywide.
You need a valid ITIN, verifiable income, and 15-20% down minimum. Credit scores typically start at 640, though some lenders go to 620.
Income proof comes from tax returns, W-2s, or 1099s filed with your ITIN. Two years of consistent earnings strengthens your file.
Reserves matter more than with conventional loans. Expect lenders to want 6-12 months of housing payments in the bank after closing.
Not every lender touches ITIN loans. We work with about 15 of our 200+ wholesale partners who actively fund these deals.
Rates run 0.75-1.5% higher than conventional mortgages. You're paying for specialized underwriting and portfolio lending risk.
Some lenders cap loan amounts at $1.5M. Others go higher but tighten credit requirements. Shopping lenders matters significantly here.
Most ITIN borrowers we see have excellent payment history but thin credit files. Building tradelines before applying improves your rate.
Employment gaps kill ITIN deals faster than credit issues. Lenders want stability—same job or industry for two years minimum.
I route Torrance ITIN deals to three specific lenders based on property type and down payment. One excels at condos, another at jumbos, the third at tight credit.
Foreign National Loans allow non-resident financing but require 30-40% down. ITIN loans need less cash if you live and work here.
Bank Statement Loans work for self-employed ITIN holders who can't show tax returns. Expect higher rates and 20% down minimum.
Asset Depletion Loans let you qualify on savings instead of income. Useful if you're semi-retired but still filing ITIN tax returns.
Torrance condo complexes require lender approval. Some ITIN lenders reject warrantable condos that conventional lenders approve—verify before writing offers.
Property taxes here run 1.1-1.2% annually. Combined with ITIN loan rates, budget for total housing costs around 30% higher than rent.
North Torrance offers better entry pricing. Newer construction south of Sepulveda pulls lenders toward jumbo ITIN programs with stricter terms.
Some lenders go to 15% down if credit exceeds 680 and reserves are strong. Most require 20% for borrowers below 680 credit.
Yes, both borrowers need valid ITINs and provable income. Combining income helps qualify for higher Torrance home prices.
Rates vary by borrower profile and market conditions. Current ITIN rates typically run 1-1.5% above conventional 30-year fixed mortgages.
Absolutely. Once you obtain a SSN, you can refinance into conventional financing for better rates and terms.
Sellers care about approval strength, not loan type. A solid pre-approval from an experienced ITIN lender competes fine.
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.