Question 1

Can I buy in Carmel with just an ITIN?

Accepted Answer

Yes. ITIN loans are designed for exactly this. You don't need an SSN to get a mortgage in California.

Question 2

What credit score do ITIN lenders want?

Accepted Answer

Most ITIN lenders want a 620 or higher. Some accept alternative credit like rent and utility history if you lack a scored profile.

Question 3

How much do I need for a down payment?

Accepted Answer

Plan on 20-25% down for most ITIN programs. Some lenders require more depending on the property type or loan size.

Question 4

Will Carmel's unique properties cause problems?

Accepted Answer

They can. Nonconforming cottages or mixed-use structures need lender approval before you get attached to a specific property.

Question 5

How long does an ITIN loan take to close?

Accepted Answer

Expect 30-45 days. Non-QM underwriting takes longer than conventional. Start your documentation early.

ITIN Home Loans in Carmel By The Sea