Question 1

Can I get an ITIN loan with less than 20% down in Torrance?

Accepted Answer

Some lenders go to 15% down if credit exceeds 680 and reserves are strong. Most require 20% for borrowers below 680 credit.

Question 2

Do ITIN loans in Torrance allow co-borrowers?

Accepted Answer

Yes, both borrowers need valid ITINs and provable income. Combining income helps qualify for higher Torrance home prices.

Question 3

What interest rate should I expect on a Torrance ITIN loan?

Accepted Answer

Rates vary by borrower profile and market conditions. Current ITIN rates typically run 1-1.5% above conventional 30-year fixed mortgages.

Question 4

Can I refinance an ITIN loan later if I get a Social Security number?

Accepted Answer

Absolutely. Once you obtain a SSN, you can refinance into conventional financing for better rates and terms.

Question 5

Do Torrance sellers accept offers from ITIN borrowers?

Accepted Answer

Sellers care about approval strength, not loan type. A solid pre-approval from an experienced ITIN lender competes fine.

ITIN Loans in Torrance: Home Financing Without a Social Security Number