Question 1

Can I buy a home in Madera with just an ITIN?

Accepted Answer

Yes. ITIN loans are designed for this. You need your ITIN, two years of tax returns, and a qualifying down payment.

Question 2

Do I need to be a US citizen to qualify?

Accepted Answer

No. ITIN loans do not require citizenship or permanent residency. Legal presence in the US is typically required.

Question 3

What down payment do ITIN loans require?

Accepted Answer

Most lenders require 15-25% down. The exact amount depends on your credit profile and the lender program.

Question 4

What if I have no credit score?

Accepted Answer

Some ITIN lenders accept non-traditional credit. Rent history, utility bills, and insurance payments can substitute for a FICO score.

Question 5

Are ITIN loan rates higher than conventional rates?

Accepted Answer

Yes, typically. ITIN loans are non-QM products and carry a rate premium. Rates vary by borrower profile and market conditions.

Question 6

Can self-employed ITIN borrowers qualify in Madera?

Accepted Answer

Yes. Many ITIN borrowers in Madera are self-employed. Lenders want two years of tax returns showing consistent income.

ITIN Home Loans in Madera, CA