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ITIN Loans in Los Banos
Los Banos has a significant agricultural workforce, many without Social Security numbers. ITIN loans let you buy property using your Individual Taxpayer Identification Number instead.
These Non-QM loans work well in Central Valley markets where traditional employment verification doesn't fit the borrower profile. Expect higher rates than conventional loans but competitive terms among alternative products.
You need a valid ITIN, 12-24 months of tax returns or bank statements, and usually 15-20% down. Credit scores typically start at 620, though some lenders go lower with larger down payments.
Income documentation varies by lender. Most accept tax returns, but bank statement programs work if you're self-employed or paid in cash. Two years of stable income history matters more than how you prove it.
Not every wholesale lender offers ITIN programs. We work with about 15 who specialize in them, each with different underwriting standards and rate structures.
Some lenders want full tax returns. Others prefer bank statements for self-employed borrowers. A few will approve with just 12 months of payment history if your down payment exceeds 25%.
Most Los Banos ITIN borrowers we close are dairy workers, farm managers, or small business owners. Their income is verifiable but doesn't fit Fannie Mae boxes.
The biggest mistake is going straight to a bank that doesn't understand these loans. They'll decline you based on lack of SSN before looking at your actual creditworthiness. Brokers with Non-QM access get you approved faster.
Foreign National Loans don't require U.S. tax history but need 30-40% down. ITIN loans work better if you've filed returns and want lower down payments.
Bank Statement Loans overlap with ITIN programs—many lenders offer both. If you're self-employed with an ITIN, bank statements often get you better pricing than tax returns showing business write-offs.
Los Banos properties under $400K move fast and appraise consistently. ITIN buyers face the same competition as everyone else—have your pre-approval ready before you offer.
Merced County has straightforward title and escrow processes. The challenge isn't the market—it's finding a lender who won't waste 30 days before telling you they can't close an ITIN loan.
Yes. ITIN loans are designed for borrowers without Social Security numbers. You'll need 15-20% down, credit history, and proof of income through tax returns or bank statements.
Rates run 1-2% above conventional loans depending on credit and down payment. Rates vary by borrower profile and market conditions—shopping across lenders is critical.
Not with the right lender. Expect 30-45 days, same as most purchase loans. Delays happen when lenders aren't familiar with ITIN underwriting.
Most ITIN lenders accept bank statements, especially for self-employed borrowers. Twelve to twenty-four months of statements typically required depending on down payment size.
Most lenders start at 620. Some approve at 600 or lower if you put 25%+ down and show strong payment history on rent or other accounts.
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.