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ITIN Loans in West Hollywood
West Hollywood's dense 1.9 square miles attract international buyers, entrepreneurs, and creatives who often lack Social Security numbers. ITIN loans fill the gap for qualified borrowers with Individual Taxpayer Identification Numbers.
Properties here range from $600K condos near Santa Monica Boulevard to $3M+ homes in the hills. ITIN financing works across this spectrum when you document income properly.
You need a valid ITIN, 15-20% down payment minimum, and proof of income through tax returns or bank statements. Credit scores start at 680 but some lenders accept 620 with compensating factors.
Lenders verify employment and income through alternative documentation. Two years of tax returns filed with your ITIN work best. Bank statement programs exist for those without traditional tax filings.
About 30 of our 200+ wholesale lenders offer ITIN programs. Each has different credit floors, down payment requirements, and documentation standards. Rate spreads vary by 0.5-1% depending on lender risk appetite.
Some lenders cap loan amounts at $2M. Others go higher but require larger down payments above conforming limits. West Hollywood's pricing often pushes into these thresholds.
Most ITIN borrowers in West Hollywood succeed with one of three profiles: employed creatives with W-2 income, business owners using tax returns, or high-net-worth buyers using asset depletion. Match your documentation to the right lender from the start.
The biggest mistake is waiting until you're in contract to sort out paperwork. ITIN loans take 30-45 days to close. Get pre-approved with actual documentation reviewed, not a conditional pre-qual letter.
Foreign National loans require larger down payments (30-40%) but accept offshore income. ITIN loans need less down but require U.S. income documentation. Bank Statement loans work for ITIN holders who don't file traditional tax returns.
Asset Depletion makes sense if you have significant liquid assets but minimal income documentation. We often compare all four options when West Hollywood buyers have complex income situations.
West Hollywood's condo market requires lender approval of HOA documentation. ITIN lenders are pickier about association financial health than conventional programs. Get HOA docs reviewed early.
Rent control applies to buildings built before 1995. ITIN investment property buyers need to understand how this affects cash flow calculations. Lenders underwrite rental income conservatively here.
Yes, but expect 20-25% down minimum. Lenders underwrite rental income conservatively, especially with rent control on older buildings.
Rates vary by borrower profile and market conditions. Typically 0.5-1.5% above conventional rates depending on credit, down payment, and documentation strength.
No. ITIN loans are designed for borrowers without Social Security numbers. Co-borrowers can have SSN or ITIN.
Plan for 30-45 days from application to closing. Documentation review takes longer than conventional loans due to alternative income verification.
Yes. You can refinance into another ITIN loan for better rates or into conventional financing if you later obtain a Social Security number.
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.