Loading
Loading
Novato's housing market doesn't care whether you have a Social Security number. Your ability to pay does. ITIN loans let tax-paying immigrants buy homes using their Individual Taxpayer Identification Number instead of an SSN.
Marin County properties require significant down payments regardless of loan type. ITIN borrowers here typically need 15-20% down, sometimes more depending on the lender and property type.
Most ITIN buyers in Novato work in healthcare, construction, or service industries across Marin and Sonoma counties. Steady income documentation matters more than citizenship status for these loans.
ITIN Loans in Novato
You need an active ITIN, two years of tax returns filed with that ITIN, and verifiable income. Credit score requirements start around 620, though some lenders go lower with larger down payments.
Bank statements, pay stubs, or 1099s prove your income. If you're paid in cash, you'll need two years of consistent tax filings showing that income. Lenders verify employment directly with employers.
Down payment funds must be sourced and seasoned for 60 days in most cases. Gift funds from family members are allowed but require proper documentation and a gift letter.
Local decision guide
Use this guide to connect itin loans eligibility, lender expectations, and local market factors before comparing payment options in Novato.
Novato's housing market doesn't care whether you have a Social Security number. Your ability to pay does. ITIN loans let tax-paying immigrants buy homes using their Individual Taxpayer Identification Number instead of an SSN.
Marin County properties require significant down payments regardless of loan type. ITIN borrowers here typically need 15-20% down, sometimes more depending on the lender and property type.
Most ITIN buyers in Novato work in healthcare, construction, or service industries across Marin and Sonoma counties. Steady income documentation matters more than citizenship status for these loans.
About 15-20 lenders in our network offer ITIN loans. Each has different overlays on credit, down payment, and documentation. Some cap loan amounts at $1.5 million, others go higher for Marin properties.
Rates typically run 0.75-1.5% above conventional loans. You're paying for the added underwriting complexity and smaller secondary market for these loans.
Portfolio lenders offer more flexibility on income documentation than those selling loans to aggregators. If your income is variable or seasonal, portfolio options often work better.
The biggest mistake ITIN borrowers make is not filing taxes consistently. If you skipped a year or filed late, expect delays or denials. Lenders want to see a clean two-year track record.
Start banking your down payment now if you're paid in cash. Depositing $3,000 cash every month for six months looks better than depositing $18,000 right before you apply.
Novato condos can be tricky with ITIN loans. Some HOAs have stricter financing requirements, and not all lenders approve warrantable condos for ITIN borrowers. Check before you make an offer.
Foreign National loans require 30-40% down and treat you as a non-resident. ITIN loans recognize you live and work here, requiring less down and offering better rates.
Bank Statement loans work if you're self-employed with an ITIN, but they analyze your deposits instead of tax returns. That can help if your write-offs reduce your taxable income significantly.
Asset Depletion loans let you qualify using savings instead of income. If you have $500,000 in the bank but modest reported income, that path might offer better loan amounts.
Novato sits at Marin's north end where home prices dip below the county average. A $900,000 purchase with 20% down means a $720,000 loan, which most ITIN lenders handle without jumbo pricing.
Competition from conventional buyers is fierce. Your ITIN loan pre-approval needs to show full underwriting, not just a rate quote. Sellers want proof you can close in 30 days.
Hamilton neighborhood and Bel Marin Keys have active ITIN buyer activity. Both areas offer single-family homes and townhomes in price ranges that work with 15-20% down payments.
Primary residences work best. Some lenders restrict condos or manufactured homes, and investment properties require 25%+ down with fewer lender options available.
You won't qualify until you file and establish a two-year history. File now, then reapply in two years with consistent returns showing your income.
No. These are non-QM loans without PMI requirements. Your higher down payment and interest rate compensate lenders for the additional risk instead.
Yes. You can co-borrow together. The lender underwrites both incomes, and having an SSN co-borrower sometimes improves your rate or terms slightly.
Expect 30-45 days from application to closing. ITIN loans require additional documentation review, making them slower than conventional loans which close in 21-30 days.
Rates vary by borrower profile and market conditions. Currently expect 1-1.5% above conventional rates, so if conventional is 7%, you're looking at 8-8.5% range.